Collected data regarding the real estate situation in Latvia paints a crystal clear picture that shows that the property market in Latvia has weakened substantially recently. The average price of apartments fell by more than one percent in the third quarter of 2020. This came after repeated increases all through 2019. This may not be good news for property owners but it does make things somewhat easier for prospective buyers and other investors.
Here is a list of the 5 most affordable areas in Latvia to invest in property.
This is a municipal area in Latvia which has been in existence since 2009 after merging Kekava parish, Daugmale parish and Balozi town. Kekava remains the administrative center of this area. Kekava is only 17 kilometers from the city center of Riga. The village of Kekava is located in central Latvia. There are several tourism attractions in the region such as Doles Sala which is a peninsula in the Daugava River very close to the borders of Riga. This is also the location of a very old mansion which is now used as the Daugava Museum. Apartments sell for $83,000.
This is another municipality in Latvia which has been functioning since 2009 during the merger between Sala parish with the parish of Babite. The administrative center was in Pinki. One of the most popular ways to pass the time and to enjoy the outdoors is the Cenas Moorland footpath. For golfing enthusiasts there is the Jurmala Golf Club and hotel. There are several outdoor activities which people can enjoy and there are also several signs and landmarks which is very interesting especially for people interested in history. The town provides excellent shopping opportunities. An apartment can be bought for $75,000.
This is a Latvian town located on the east coast of the Gulf of Riga. This is also the capital of this municipal area. The area has always been known for fishing and there are many well-established fishing settlements in the region. This town is surprisingly large because it stretches over 17 km from the village of Skulte in the north to the Incupe river in the south. Apartments are available from $41,000.
The town of Salaspils is also the administrative center of the municipality of Salaspils. It located in a picturesque location on the northern bank of the Daugava river. It provides for a relatively quiet existence but when needed all the benefits provided by a large city is only 18 kilometers away in the city of Riga. This area has been a hot point in world war two when a Nazi camp was established here. You can buy a house here for $33,000.
On the west coast of Latvia, you will find the port city of Liepaja. One of the identifying properties is the long beach which lies on the Baltic sea. Right next to the beach is the area known as Seaside Park where there is a ghost tree, a bathhouse, a concert stage and a monument honoring Livi the Latvian rock band. There is also the Latvian Musicians Alley of fame where there are many plagues in dedication of the musicians of Latvia. There is also a very large mechanical organ in the Holy Trinity Cathedral. An apartment will cost $18,000.