Latvians can't afford to live in apartments

Last month, a downward trend in the apartment prices took hold in several Latvian neighborhoods. According to real estate experts, many citizens want to get rid of apartments quickly with the approaching winter and high utility bills.

In October, the prices of standard type apartments in Ogre decreased by 0.4%, reaching a price of 898 euros per square meter. In Kauguri, prices of standard type apartments decreased by 2 % in October. In Salaspils, a decrease of 1% to 911 euros per square meter was recorded. Apartments in Jelgava fell by 2%, and now the average price is 748 euros per square meter.

At the same time, major real estate companies report that demand for private houses and land is growing. The purpose is the same - the willingness to save as much as possible on heating and other payments.

The energy prices in the country rose by more than 40% during the year. The official annual inflation in the country, according to Eurostat, amounted to 22% in September.