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Lukjanska: Russians will buy apartments, not houses

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Dina Lukjanska

Real estate buyers from Russia will not be interested in houses, they will mostly purchase apartments, Dina Lukjanska, expert at Swedbank real estate company SIA Ektornet Management Latvia, told the business portal Nozare.lv.

Russian buyers will definitely not be interested in private houses. Why not? Because they demand management and serious attention all year round. The pace of life in Moscow is so fast that people simply hardly have any time to consider another house in Latvia, she says.

According to the expert, the number of deals with Russians is currently small, because the market lacks quality supply for adequate prices.

A quality product would be, for example, a three-room apartment whose price exceeds the limit to be granted a residence permit – 100 000 to 150 000 euro (70 000 – 105 000 lats). Apartments in Jurmala are the most demanded for sure. However I doubt such apartments will emerge in Jurmala, because project developers believe if the apartment is located in Jurmala, it simply must be expensive. However, if projects for such prices do appear on the market, they will be highly demanded.

She forecasts Riga apartments will also be popular, but only those located in the center.

Asked whether the numerous new projects built in the suburbs of Riga will also succeed in finding buyers from Russia, Lukjanska points out it is unlikely Russians or people from other CIS countries will opt for them.


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  1. Nelson Levi says:

    One of the most affordable ways to purchase a house today for the Russians is a mortgage. It is encouraging that the country’s leadership

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