HOUSING IN LATVIA / LATVIA HOUSING GUIDE

Latvia Info — Mon May 14, 2007 6:19 am

Author: Latvia Info

Posted: Mon May 14, 2007 6:19 am

HOUSING IN LATVIA

General

In the 1990s 165,000 families (one out of five) were registered for new housing. Approximately 200,000 people lived in the 8% of existing housing stock that was in substandard condition. But the government has made some progress in reforms for the housing sector. In 1993, 54% of housing was owned by state and municipalities. In 1999 the majority of property (70%) was privately owned. The government anticipates that by the end of the privatisation process about 80% of housing will be private property, while municipalities will maintain only 20% of the housing as low-cost rental or social houses.

Since 1996, the government has signed several agreements with international organisations for funds to improve housing projects. In 2000, the Housing Crediting Program was initiated to promote a new mortgage system.

Expatriate areas

Popular area for the expatriate community is the capital city Riga.

Housing

The housing in Riga city is limited to apartments. The most expensive area is Old Riga, the inner city of Riga. On the border of Riga you can find apartments, semi-detached or detached housing.

Cost of housing

Varies from area to area and the size of the house or apartment you'll pay anything from Euro 1000 for a basic apartment to Euro 5000 for a luxury apartment. The local currency is Latvian Lat (Ls).

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HOUSING IN LATVIA / LATVIA HOUSING GUIDE