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Wednesday 29.03.2017 | Name days: Agija, Aldonis
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Study: home’s location – not just rational consideration

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RURiga residents are divided into two categories – those who choose the right bank of Daugava River and those who choose the left. Although the choice of location depends on how far or close it is to work, habits often play the main role.

People from Agenskalns cannot imagine living in Purvciems, even if their work place is located on the other side of Daugava River. It works both ways – people in Mezaparks are reluctant to live in Pardaugava, according to data compiled by DNB Bank.

The choice of location for a home also depends on ancestors’ place of birth. Housing is usually bought in regions where people have ancestral roots. More and more it is noticed that families living in private homes also buy apartments in cities to later hand them over to their children. While children are busy growing, apartments are often rented out to earn additional income.

Most young people buy apartments with at least three rooms, even if the apartment is bought for a single person.

Acquisition of real estate has also become more reasonable in Latvia. People now consider energy efficiency and ecological factors more when buying a home. According to the bank, popularity for abandoned farmsteads is on the rise among Latvian youngsters. Young and committed people wish to buy cheap houses in rural regions to remodel them into comfortable family homes. At the same time, procurement of apartments also remains popular among youngsters. This forms a correlation with the observed housing choice cycle. It began with staying in homes outside cities, later moving to apartments in cities and finally returning to areas of birth to live in new private homes to be close to relatives.

In the majority of cases, private homes in rural areas outside of busy cities are more popular than apartments in city centres. More and more people are prepared to purchase homes within one hour’s drive from the city, as observed by the bank.

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