Which apartments are bought most often? You will be surprised! 0 10

Creditors — that is, banks and financial companies that provide loans for the purchase of apartments and houses — have the best feel for the real estate market. Sergey Malikov, chairman of the board of West kredit, who has been working in the lending sector, including real estate, for over thirty years, shared the trends of the year in this area:

"There is currently a real boom in the segment of small housing in the center of Riga — apartments are being purchased for subsequent rental to foreign guests through booking systems and Airbnb! This has been a result of a very active tourist season in the capital this summer and fall. And it is easier to obtain a loan for purchasing an apartment for such business activities.

There is still stable demand for secondary housing, but it must be renovated! This is due to the fact that over the past two years, the cost of repairs has sharply increased, and it is more advantageous to purchase housing that is already renovated — and it is easier to obtain a loan for such an apartment.

As for new projects, their affordability for families with children remains limited, as the cost of apartments in new projects is generally over 100,000 euros, and, as you understand, one needs to have a very high and stable income to obtain such a large loan.

Overall, both banks and non-bank lenders primarily pay attention to the size of legal income, whether there are other credit obligations, and the ability to make a down payment when considering a loan application.

Next time, I will introduce bb.lv readers to trends in the housing market.