EU – Baltic States, Good for Business, Investments, Latvia, Real Estate

Kairans explained that the total amount of investment is constituted by large housing estates, development land and does not include apartment transactions by individuals, writes LETA.

Particularly rapid development cannot be predicted this year, since there are only few new projects. Their developers are still cautious and thoroughly assess both internal and eurozone risks. Nevertheless, development will speed up, if not this year, then in 2013, or definitely in 2014, said Kairans.

In 2011, office market transactions amounted to EUR 50 million (LVL 35 million), trade premises transactions – EUR 20 million (LVL 14 million), industrial and warehouse deals – EUR 10 million (LVL 7 million), hotel transactions – EUR 60 million (LVL 42 million).