property prices down in latvia
News Posted On: 25 November 2008
Overseas property investors could find themselves in line to snap up bargain homes in Latvia.
According to Knight Frank, house prices fell across many different parts of the world during the last quarter.
This development, which has been attributed to the global financial crisis, was found to be particularly apparent in Latvia.
Figures showed that between July and September, property values in the eastern European country fell by 6.2 per cent.
This means that cash-ready investors could potentially purchase a Latvian property at a knock-down price.
Nicholas Barnes, head of international research at Knight Frank, observed: "It is now clear that no part of the world is likely to escape the credit crunch as property prices start to fall in more and more parts of the globe."
Meanwhile, research by OAG has revealed that airports in Latvia are becoming increasingly busy this year.
This development was said to have coincided with a decline in many other countries across the world.
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