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Friday 21.09.2018 | Name days: Matīss, Modris, Mariss

Decreasing number of housing price gains forecasters

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

After a gradual increase during the past months, in March 2011 the number of residents considering the housing prices will grow has fallen by six percentage points – currently 33% of the respondents expect housing price hikes (39% – in the previous survey).

The prevalence of inhabitants forecasting real estate price surge has maintained in all regions of Latvia with most optimistically disposed housing price forecasters observed in Vidzeme (38%), according to SEB Housing Price Indicator data.

Compared to February, in March the number of inhabitants predicting housing price drop has increased by three percentage points – 16% of the surveyed residents of Latvia consider the real estate market prices will fall during the next year (13% of the respondents in the previous survey). Also, the number of neutrally-disposed population has grown – 34% of the respondents (32% in the previous month) were of the view that housing prices will not change in twelve months and will remain at the current level. Similarly as in previous months, 17% of the latest survey respondents had no particular opinion on the real estate price changes in coming year.

Despite the drop in the number of price surge forecasters, the prevalence of inhabitans with such views over the price drop forecasters has remained in all Latvia’s regions. The inhabitants of Vidzeme have remained the most optimistic regarding the housing price growth –38% (previously – 47%) Also, Riga residents have an optimistic outlook on the real estate market with 36% of the respondents (previously – 43%) forecasting price increases. Interestingly, in Zemgale, unlike in other regions, the proportion of real estate price drop and surge forecasters has improved in favour of people predicting price rise – 29% increase forecasters over 14% price drop forecasters. While 36% of Zemgale inhabitants are neutrally-disposed. In Latgale, 29% expect price growth, while the number of people awaiting price drop has amounted to 21%.

However, the inhabitants’ forecasts regarding housing price growth are more positive than a year ago, when the public sentiments were negative. Compared to March 2010, SEB Housing Price Indicator has climbed by 25.0 points. The residents’ sentiment was mainly affected by the scheduled changes in taxes and tariffs, as well as by rising housing maintenance costs, indicates the bank’s socio-economic expert Edmunds Rudzītis.


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  1. Memet says:

    Prices will continue to drop because of huge offer and no demand Moreover it is nearly impossible for an average Latvian household to get a home loan More and more people leave the country they no longer need an accomodation Do not beleive those who say price are on the rise.

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