Latio Real Estate

Lease option of this seaside property is available for legal entities as well! Read more: https://lnkd.in/gfeafYdx

🔔 What's new in the housing market? 🔸 The pace of transactions has slowed down noticeably in August due to the holidays. There is also no rush on the sellers' side, with owners adding new listings to the market less frequently. As Latio Real Estate agents have observed, the Euribor factor is playing a less and less important role among home buyers. As people have adapted to the market situation, they have also accepted property prices and are more realistic about the mortgage options available to them - especially for amounts up to EUR 100 000. At the same time, buyers continue to take thoughtful pauses before deciding to buy - especially those considering new projects. Traditionally, August also sets the rental market in motion as students look for accommodation for the new academic year, and this year has been no exception. 💡 Trends in the housing market in the last month of summer are summarised in the latest "Homebuyer Confidence Index". Read more below:

🏢 Exciting news for the Baltic real estate market! Three leading companies from Baltics - Inreal Grupė (LT), Uus Maa Real Estate company (EE), and Latio Real Estate (LV) have formed an agreement of strategic cooperation to streamline property evaluation and accelarate the process of real estate purchasing across borders. 🤝 The collaboration aims to meet the rising demand for top-notch residential and commercial spaces while facilitating regional development in the Baltics. There is a rising interest in modern office and industrial spaces that meet the latest technological requirements and work environment standards, as well as in high-quality rental properties, including in regional areas. From innovative projects to sustainable initiatives, the market is evolving to meet modern consumer needs and global standards. The partnership will provide comprehensive real estate services, primarily valuation and market analysis to clients in Lithuania, Estonia, and Latvia, who can now benefit from efficient service delivery and expertise shared by the top real estate agencies in the Baltic states. #BalticRealEstate

How has the lending industry developed over the last 30 years? What financing options are available to Latvian residents? What can we expect in the future? These topics are discussed in the 43rd episode of the podcast 'Sālsmaize' by Edgars Shins, Chairman of the Board at Latio, and Pavels Snejersons, Chief Operating Officer of the crowdfunding platform Capitalia, who has spent his entire career in the financial sector. He witnessed the first mortgage loans shortly after the restoration of independence, the period of the economic crisis, as well as its aftermath and recovery period. The experts share their experiences regarding the 2008 crisis and its impact on today’s market, compare the situation across the Baltic States, and discuss the future prospects of the financial market in Latvia.  

🏡 The housing market in the capital has been stagnant for eight consecutive years, with 59% of transactions occurring without a mortgage. In contrast, the market in western Latvia is becoming increasingly active, as highlighted by the latest "Home Buyer Confidence Index". In Liepaja, prices for apartments in the secondary market of new developments have dropped by 12%, leading to a surge in transactions. There is significant interest in purchasing homes in the City of Winds, including from Lithuanians, who often prioritize price when buying older properties, despite the abundance of new developments in nearby Klaipeda. Will Liepaja meet the growing demand for high-quality housing, and how are its southern neighbours addressing their real estate market challenges? 🔹 Read more below:

🔎 The total number of transactions involving forests and agricultural lands in the first half of 2024 has decreased by almost one-fifth compared to the same period last year. Until July, 533 transactions with agricultural land were registered, with nearly a quarter (24%) occurring in Zemgale, 21% in Latgale, 20% in Kurzeme, 18% in Vidzeme, and 16% in Pierīga. The highest number of transactions with agricultural land this year was recorded in the Rēzekne, South Kurzeme, Madona, Jelgava, and Dobele municipalities. The highest price was registered in Jaunsvirlaukas parish, where a grain farming company purchased land (4 ha) for the price of 14 000 EUR per hectare.   🔎 Since mid-2023, when a sharp decline in forest property prices was observed, the situation in the segment has relatively stabilized. Owners have also been placed in a waiting mode due to a Constitutional Court ruling in April of this year that repealed Cabinet of Ministers regulations allowing the felling of younger trees with a smaller diameter. Experts in Latio Real Estate forests and agricultural lands conclude that the most significant consequences of this regulation repeal will be felt by small forest owners with a high proportion of young forest stands, as the development will be delayed by at least five years. 🔸 Read more below:

💡 Although the European Central Bank's decision to lower the EURIBOR by 0.25 percentage points in early June has not triggered a significant boom in the housing market, activity within the segment continues. This is reflected in both the increased willingness of prospective buyers to consider larger credit obligations and the more dynamic response from sellers, who are appropriately adjusting property prices by up to 15% and listing properties that were previously withheld from the market. According to the agents at Latio Real Estate, discussions regarding housing purchases are further stimulated by recent amendments to the Notary Law, which introduced the partnership institute - raising questions as to whether and how the conclusion of a partnership agreement will affect lending conditions. 💡 Read more below in the latest "Home Buyers Confidence Index."

🤝 LEASED 🤝 High-quality commercial spaces in the heart of the Quiet Center of Riga have found its new long-term tenant - Lithuanian beauty clinic REVÙ CLINIC. The building on Elizabetes street 15 was extensively reconstructed in 2016, adapting the premises for customer flow by setting up multiple meeting rooms as well as individual workspaces. The office is equipped with everything necessary for the successful day-to-day operation - providing access to persons with mobility impairments, air conditioning, and a ventilation system. REVÙ CLINIC will undoubtedly add value to the community of the Quiet Center residents and the staff of surrounding office buildings! Wishing success! Premises leased by: Solvita Gulbe Latio Real Estate

🔸 Over the past two years, the real estate sector has significantly deviated from traditional market theories regarding normal market response to the rapid rise of Euribor. Despite an increase in housing supply and buyer interest in Riga this May, transactions remain infrequent, and price adjustments are sluggish. Latio Real Estate market analysts and real estate agents attribute this phenomenon to both the uncompetitive offerings that fail to compel sellers to vie for buyers and the substantial disparity between the wealthiest and poorest segments of society, which hampers their ability to respond to market conditions. Additionally, sellers' reluctance to lower prices overlooks the fact that the average wage has only increased by 8.5% in recent years, lagging behind the 30% rise in consumer prices driven by inflation. The significant mortgage burden on dual-income households further deters property purchases, rendering new projects a luxury item for many families. 🔸 Read more below in the latest "Home Buyer Confidence Index".

📍 Modernism with urban style accents in one of the liveliest arteries of the central part of Riga - spacious Class A offices are available for lease in Tērbatas Business Centre. The refurbished premises in the six-story building have been thoroughly renovated to provide a modern, urban work environment saturated with bright interior nuances. The open-plan layout creates a free and inspiring atmosphere, which is tastefully balanced by offices and meeting rooms. The tenant will be provided for all the amenities essential for a comfortable working environment - kitchen equipped with household appliances, forced air cooling system, fast optical Internet, video surveillance, 24/7 front-desk operator, as well as underground parking. The location of the building at the intersection of Tērbatas and Lāčplēša streets ensures excellent building recognition thanks to high footfall and heavy traffic. The office space ranges between 191 and 630 m². The office on the 6th floor is complemented by a 110 m² wide terrace. Office lease charge starts from 13 EUR/m². On the ground floor of the building, there is a roomy commercial space of 274 m² with large display windows for lease. For more information please contact: Solvita Gulbe 📞 26115754 ✉ solvita.gulbe@latio.lv