According to the study, despite the fact that prices continue to fall, the rate of decline has slowed significantly. For example, in February 2008, serial housing in Riga fell by 1.5% (to €1,394 per m2), maintaining the rate of decline at the level of January. This makes it possible to predict a halt in the fall in prices for standard apartments in the coming months.
The activity of potential buyers has also increased. The number of apartments they viewed doubled. According to the president of Balsts, there are not as many transactions as before, but for a large part of buyers there is currently only one reason why they are postponing a deal - restrictions on obtaining credit.
Activity has also increased in the rental housing market. Sellers who are not ready to lower prices for their real estate are increasingly renting out apartments. This is one of the reasons why the number of offers has grown significantly since the beginning of the year. Meanwhile, demand has not changed, rental prices have not increased, and tenants have become more selective.