A mansion in Riga or its region or a plot of land for construction of a private house in a picturesque place in Latvia – that is what the absolute majority or 81% of our population wants. Men would prefer building a house of their dreams in the countryside, while women would gladly buy a villa in Jurmala. These are the main preferences of Latvians when choosing premium real estate, according to the survey carried out by Snapshots* in association with Baltic Sotheby’s International Realty, company specializing in premium real estate.
Results of the survey conducted by Baltic Sotheby’s International Realty show that 27% of the Latvian population would buy a private house in Riga, 27% – in the vicinity and 27% more – a building plot in a picturesque place. To Latvians the least attractive place for living (only 6% of respondents) would be an apartment in Jurmala. While foreign buyers list the said category of real estate as the most desirable one.
The survey showed considerable differences between the way men and women view premium real estate. 33% of the stronger sex would buy a plot of land in a picturesque place and build a house of their dreams there. Only22% women share the same desire. While 26% of ladies expressed a wish to buy a villa in Jurmala, and their wish was shared only by 12% of men. However, it should be noted that the fairer sex has the ability to adjust to circumstances and is willing to meet their partner halfway. According to the survey, 26% of women are willing to buy a house in Riga and 26% more – in the vicinity.
Experts at Baltic Sotheby’s International Realty note that Latvians are very attached to their present place of residence. Therefore, the premium real estate of their dreams is located basically in the same place as their current place of living. 39% of residents of Riga would like to buy a house in Riga, 32% of the small town population and 30% of rural residents would buy a plot of land in the countryside.
“Latvians have taken an interest in buying premium real estate only this year, such objects are usually bought by foreigners”, says Ilze Mazurenko, co-owner of Baltic Sotheby’s International Realty. “Their preferences may be broken down in the following way:
Parents with adult children usually buy apartments or a house in Jurmala located in a certain distance from the noisy Jomas Street for themselves, whereas for their children they buy apartments in Riga and Jurmala.”