You are too late into Riga. It was the fastest growing market in Europe in 2005 and 2006.
By the end of 2006, prices were higher there than in Stockholm, Copenhagen and Oslo.
It all stopped in March 2007 though when the government put restrictions on borrowings to stop the rapdly overheating economy. It did the trick as it became practically impossible for anyone to borrow money without providing a lot of paperwork (which most people in the market for buying EUR250,000 properties weren't able to provide.
Since then, prices have been falling there by 2-3% per month.
Exactly the same thing happened in Kazachstan as well.
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