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 Latvia wages to fuel property boom?
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Thursday, April 17, 2008 |
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Native Latvians are driving the growth of the country’s property market…
According to Rhiannon Williamson, Director of Amberland, Latvia is benefiting from ‘substantial foreign direct investment’ which has helped establish the Latvian economy as ‘one of the fastest growing in Europe’.
“Added to that, Latvians are on target to receive one of the five largest wage increases in the world, which means that locally, the population can afford to spend more on property either in the form of rental rates payable or property prices payable.
“This also means that real estate investors can buy off plan and flip on to the local market upon completion or even buy to let out in the capital city of Riga or in the coastal port towns”.
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