Overall, the demand for apartments in Jurmala new projects are still stayed within the price ranges

2012th in the real estate market continued to brighten and number of transactions has increased, however, the owners and developers predictions of substantial price increases did not materialize - it shows the real estate company Real Estate Jurmala (REJ) market observations, Who's "Apollo" informed Jurmala Real Estate Consultant Sarah Krīvena.
REJ is fulfilled in December 2011. Embraced predictions, and most businesses are actually performed last year at prices that are 30% lower than expected or the seller, the real estate market offering, set. In other words - initially offered on the market price of the property transaction process, sellers had to cut.
"This is mainly due to the fact that most owners and developers are still living airfield estates in a kind of euphoria and have been unable to come to terms with the reality that the price can not be the pre-crisis level. It is the right time to realize the true value of real estate, "said airfield estates Igor Daņiļēvičs, REJ board member and founder.
Trends in Jurmala real estate market is still determined by the buyers airfield estates from Russia and other former CIS countries. In particular, the positive impact that contributed to their activity, has provided a provision of the Immigration Act for the opportunity to get a temporary residence permit for investments in the Latvian economy.
2012th in demand for real estate was preserved in all segments. However, compared with the 2011th year, when there was a strong interest mainly for apartments, 2012. Was leveled demand and growing interest for the land and home purchase. A positive trend, indicating that the market is becoming more and more orderly, is that less and less observed airfield estates the so-called speculative transactions - ie property is purchased your needs.
Overall, the demand for apartments in Jurmala new projects are still stayed within the price ranges from 200,000 to 500,000 euros for an average area of about 100 m2. Buyers are willing to pay 2500-3500 euro/m2 an apartment without finishing new projects, depending on the location. airfield estates 3500-5000 euro/m2 potential buyers are willing to pay for an apartment with a full range of quality finishes. However, this segment of the supply has been very limited. Jurmala is a few new projects, which are offered apartments with a full, high quality finish, although most of the buyers expressed the desire airfield estates to acquire a fully-equipped apartments. "It is unfortunately still a constant trend. The 2012th year, the majority of projects implemented does not meet the demand of the housing plan, the living environment and product quality. Early indications are that nothing will change in the coming two years, and this is another reason to believe airfield estates that there is no reason to rise in prices, "says Igor Daņiļēvičs.
In general, the land and the house on the market demand has increased, as evidenced by the transactions actually occurred airfield estates 2012th year. Land seaward buyers airfield estates last year were willing to buy at a price of 200 - 500 euro/m2 depending on the region and type of use. Jurmala 2012th most popular in the demand for ready-made airfield estates house was from 300,000 airfield estates to 700,000 euro range. However, the offer in this real estate segment is small. So REJ pointed out that the construction of a new house in Jurmala is still free niche.
In turn, the rental market in the 2012th year in Jurmala dominated by seasonal demand. "The rental market here is still, a certain chaos. Unfortunately, IL increasingly unable to offer reasonable rental stock, like other European resorts. There are no created no serious project that focuses directly on the rental market, while demand and interest show that it is potentially free niche, "REJ confident expert.
"It is expected that the 2013th year in the spring, when activity airfield estates resumes real estate market will face a shortage of new housing average price segment," says Igor Daņiļevičs. This is due to the fact that the 2012th year in Jurmala, no new housing projects, but just commenced airfield estates may be completed only in 2014. Annually. "Therefore, there is a risk that potential buyers can begin to take an interest in the acquisition of property in other countries," said the head of REJ. The risk of losing the investment, even if it were a change in legislation, for example, removing provisions of the Immigration Act for the opportunity to get a temporary residence permit or a substantial increase in the investment rate down. "Competing in other European markets valsīts with lower prices and responsiveness investment environment is already a serious threat to Latvia in the real estate industry, so we must build its competitiveness," says Igor Daņiļēvičs.
REJ specialist estimates that, overall, the 2013th will remain in demand for high-quality properties in Jurmala. However, the owners and developers who want to sell their properties this year, will be forced to re-evaluate airfield estates the price and market demand. In turn, those who want or already have purchased the property, REJ calls attention to its liquidity. This particularly applies to properties in new projects. airfield estates
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