According to various Latvian real estate companies, the apartment prices in Riga declined another 2% in January. The overall decline, compared to peak prices in April 2006 is now between 12% and 20%, depending on which real estate company you choose to believe. (My anecdotal evidence, from my own ongoing apartment search, is that 20% may be the more accurate estimate.)
The decline has been substantially bigger than anyone expected and does not show signs of stopping. Some real estate companies predict that it will stop in about two months but they were making the same prediction 3 months ago...
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1 comment:
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