Industry revenue of »management of real estate on a fee or contract basis« in Latvia 2011-2023
Over the past few years, real estate activities, especially in the rental and operating of own or leased real estate market have witnessed a rise in Latvia, owing to the low rental costs for apartments, which at 862 U.S. dollars per month are amongst the least in Europe. The office real estate market is also going strong, with eight new office projects completed in Riga in 2019 and six more scheduled for the financial year 2020-2021.This has augured well for the real estate agencies and related services, with revenues projected to increase from 308 million U.S. dollars in 2011 to 375 million U.S. dollars by 2020. The Ober-Haus Real Estate Advisors is one of the largest real estate agency operating not only in Latvia, but across the Baltic region.
However, the agencies are set to face stiff competition in the short to medium term, with the growth in various desktop and mobile apps that enable buyers to connect directly. This is one of the main reasons the market is falling in countries such as Italy and Poland.
However, the agencies are set to face stiff competition in the short to medium term, with the growth in various desktop and mobile apps that enable buyers to connect directly. This is one of the main reasons the market is falling in countries such as Italy and Poland.
