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Home - Real Estate Agents: the Demand for Expensive Private Houses Felt Sharply

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Since January 1, 2021, several laws have come into force that will change the lives of apartment and house owners. For violation of the new norms, Russians will face sanctions, penalties, fines and even criminal punishment.


Executive holidays extended

Federal Law of July 20, 2020 N 215-FZ establishes the specifics of the compulsory execution of judicial acts, acts of other bodies and officials, as well as the return of overdue debts during the spread of a new coronavirus infection.

Real Estate Agents: the Demand for Expensive Private Houses Felt Sharply

Last year, the average transaction amount of a single-family private house in the vicinity of Riga was for 13.7% less than in 2013, according to real estate company Arco Real Estate.

The number of transactions over 200.000 EUR decreased by 35%, thus, the deals worth for more than 300.000 EUR were made for 54% less.

The most expensive transaction recorded in Baltezers (selling at 800.000 EUR) and Babite municipality (in the amount of 730.000 EUR). At the same time, the number of transactions in the segment of expensive private houses decreased in Garkalne municipality by 20%, in Babite municipality by 31.6%.

In Riga, activity with the deals of a single-family houses increased by 26.6%, in Jurmala - 34%. In Jurmala transactions were made in a price range from 250 to 8172 euro per square meter, but the average selling object became a land area of 968 square meters with a building area of 210 sq.m.

The most expensive private house was sold last year in Jurmala, Dubulti on Pupolu Street, which was sold for 8.7 million EUR.