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Market report about situation on March 2012


BALSTS INDEX IN MARCH HAS GROWN 

In March BALSTS index reached 127 points, that is the result of the increased customer activity in the center of Riga and in the neighborhood. Price of apartments in the center increased by 0.25%, standard-type apartaments price increased by 0.75%. Increased interest in the rental-purchase deals. Rental market for the determinants of becoming home owners. In the rental market determinants now are the home owners.
"The increasing customer activity in March resulted a 0.25% increase in the average price of apartments in the center and now it is 1213 EUR/m2. The average price of standard - type apartments in residential areas has increased by 0.75% and is 609 EUR/m2.The positive trend has caused an increase of BALSTS index, in March 2012 it is 127," reports CEO of the company BALSTS Aigars Zarins. 

"Recently is observed that customers – both, buyers and sellers, have become much more decisive - decision-making process is faster, which can be explained by the lack of quality supply in the market. More and more buyers purchase the property with an aim to rent them out, and get a profit. 

In March is observed an increased interest in rental-purchase deals. Since a variety of reasons, only a small part of the latvian people can get lokans from banks and acquire property, the rent-purchase is one of the alternatives. Owners of rental apartaments are showing a growing interest in the potential tenant's business, financial solvency, and other factors, which shows that the situation in the rental market has changed - the demand in the market begins to exceed supply -the determinants now are the home owners, " real estate market comments Aigars Zarins.

More information you will get:

BALSTS, Audēju Street 8,

Tel.: + 371 67076191

Fax: + 371 67076199

info@balsts.lv, www.balsts.lv

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