The Latvian real estate bubble kept deflating in October, with apartment prices down another 2%, to 1490 Euros/m2, according to Latio real estate agency. The prices are now 13.5% below the peak of 1720 Euros/m2 reached in April. However, they are still 6% higher than one year ago (October 2006).
The new construction is slowing down and only one new project in Riga has been announced in September. Other real estate agencies report similar trends.