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Reality Check For Latvian Realty

Parmy Olson forbes.com 04.06.2009
Reality Check For Latvian Realty

LONDON - Whenever Sanda Mikelsone struck up a conversation in a bar around this time last year, there was always a good chance she could walk away from a potential customer. She'd just become a realtor with Latvia's Arco Real Estate two years prior--her first full-time job--and was already selling at least one house or plot of land a month. Now she's lucky to sell one property every six months. "It's very hard," she says. "Nothing is going on."

Government plans new real estate tax

Kira Savchenko baltic times 28.05.2009
Government plans new real estate tax

The Latvian government plans to impose a new real-estate tax on private dwelling space next year, with the aim of raising an additional 24 million lats (34.15 million euros) annually to the state’s almost depleted coffers.


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