Together with cheap credits and the wish of the residents of Riga to live in private houses but not in flats in 2004 the interest which started in 2003 continued to grow. In the City of Riga the quantity of land for the private construction is strictly limited. That is why this market developed by transforming the arable land into the land in county churchyard designated for the private house construction.
Because of the high demand the transformation of land became beneficial business. Before Latvia joined the EU the purchase of land was very popular, i.e. the large territories of land were purchased, than divided into smaller pieces and sold for, let us say, the purposes of private summerhouse building. At the end of June the situation changed and people, who wanted to buy lend for the building of their private house started to buy land from the 1st hands. Many investors think that land is very good investment and have bought land with any particular plan to build something there in the nearest years or to built anything at all.
After taking into consideration the development in the area of transformation of land and the fact that there will be the need for the creation of small villages during the nearest 10 years we can assume that in 10 years the arable land in the Riga Region will disappear.
At the beginning of the year the price for land depending on the place, infrastructure and mortgages ranged from 15 EUR per sq.m for divided pieces of land till 250 EUR per sq.m in prestigious place near Riga ,e.g. in Mezapark or Jurmala.
The prices of the land which is situated nearly to the densely inhabited places grow rapidly. Besides, in the connection with a lack of free land for the construction of private houses in Riga, the prices for the land suitable for building of private houses grow even in case the land is situated far from Riga. Step by step the land in historical districts on the other side of the Daugava river, such as Imanta, Zolitude and Dzirzciems is sold and approximately from September there are not such offers anymore.
Since the land, suitable for the constructions of private houses in these districts coasted 40 EUR per sq.m., the owners can dictate their price, because such an offer does not exist at the moment. That is why sometimes there are pieces of land offered for the 80 EUR per sq.m.
In Garkalne the prices of constructional land vary from 15 till 70 EUR per sq.m. In the county yard of Marupe the maximal price reached 60 sq.m at the end of the year, in Saulkrasti and Carnikava - 45 EUR for sq.m. In Adazi the cheapest price for land is 10 EUR per sq.m and in Kekava and Stropini country yards the costs of the fields transferred into constructional land is 10 EUR per sq.m.
The most popular county yards in the Riga Region, where the construction is performed actively are the county yards of Marupe, Stopini and Garkalne.
In the Stopiny county yard there are 400 ha of the land designated for the building of private houses, i.e. 2088 pieces of land. During the last 5 years 248 ha were transformed into constructional land from the arable land. There are two villages in Stopiny, where the private houses are offered for sale. The area of village - Saulishi is 18 ha and there are 130 private houses. The area of land pieces is from 1000 till 1500 sq.m, and the area of houses 100 -230 sq.m. The average price for private house is 50 000 LVL (app. 70000 EUR)
The village "Juglas Krasti" contains the pieces of land ordered for the construction of private houses, the area of those pieces is 6 ha and there are 35 such pieces of land all together. The area of all the pieces is 1200-2000 sq.m, the area of houses - 80-211 sq.m. The average price of private house is 34600-95000LVL (approximately 50000-135000 EUR).
The territory of Marupe county yard borders with the constructional territories of Riga City, that is why the demand for the constructional land here is high. The territory of the Marupe county yard is 10 391, 3 ha. In 2004 370 allowances for construction were issued, according to the data provided by the Council of Construction.
The biggest villages and groups of land pieces for private construction:
'Marasciems' - village consisting of the pieces of land for construction with the area of 15 ha. The quantity of houses - 99 (78 already built during the f rst wave of construction, during the 2nd wave 31 house will be built). The area of the pieces of land -1200 -2020 sq.m., the area of houses 119 -227 sq.m., price 47350-80600 LVL (6500-11500 EUR)
"Priezavota nami" - the area of village 2,5 ha, the quantity of private houses -15. The area of the pieces of land - 2000 sq.m., the area of houses -180 -215 sq.m; price 315 LVL per sq.m. + LVL 3000 for the land (i.e. approximately 450 EUR/sq.m. + 43000 EUR). Besides, according to the Council of Construction this village is the best planned and organized. "Seeli" - devided pieces of land - 35 range houses
"Vecozolu nami" - the village where blocks of fats are built with the area of 10 ha. The current quantity of inhabitants - more than 500.
The closeness of Riga attracts both customers and developers. The territories , designated for the building of one family and two families private houses grow. During the last f ve years the territory designated for the building of private houses increased for the 158,5 ha, that covers 543,3 ha from the total territory of the Garkalne county yard.
The major villages and grouped pieces of land in the County yard of Garkalne:
'Garkalne' - the village consisting from devided pieces of land, with an area of 14 ha. The quantity of houses -150, the area of pieces of land - 500 sq.m., the area of houses 70 -160 sq.m., price - 35 000 LVL, i.e. 50000 EUR. The first wave of construction works will be finished in December, 2005.
"Garkalnes nami"- the area of village - 3,6 ha, the quantity of houses - 27, price 37500 - 62000 LVL (i.e. approximately 53 000-88000 EUR). The area of the pieces of land 700 -1100 sq.m.
"SHezers" - the village consisting of the pieces of land for the constructional orders with the total area of 4 ha. The area of the pieces of land -1200 sq.m, all together 23 houses.
At the end of 2004 the territory of the county yard Babite consisted of arable land - 4329,8 ha, the territories, where the private houses for one and two families are built - 394,1, from which 243,5 were used in agriculture, e.g. small gardens and territories, where nothing was built yet.
In 2004 the 519 projects were confirmed, 271 allowances for the construction obtained and 34 projects of planning were conducted. The plan of development began in 1997, and was altered in 2002. During the last 5 years 2052 new pieces of land for the construction were created and consequently152 ha of arable land transformed. Totally, during the last 5 years 364 ha of arable land were transformed in Babite.
There are several villages, considered to be very successful: Mezmalas, Abeles, Lielpriedes, Beberus and Silarajus, where is the corresponding infrastructure. In several projects it would be hard to sell private houses because of the poor organization: Lapsinjas (32ha), Virzas (6ha), Mezares, Mezvidi, Lakstigalu Pljava (14ha) and Maijpukishu park (40 ha).
The largest villages in the county yard of Babite are:
"Abeles" - the area of village 13 ha, 2 blocks of fats, 23 range houses, 26 private houses. The area of the pieces of land -1500-1900 sq.m., the area of houses 150 -350 sq.m, the price of the land 15 LVL per sq.m.(approximately 21 EUR), the average price for house LVL 85000 (approximately 120000EUR)
"Bebru Pljavas" - the village consists of 175 pieces of land which are designated for the orders of constructional building. The total area of village is 30 ha. Price of the land is 13 LVL per sq.m. or 18 EUR per sq.m. and 250 LVL per sq.m. for the house (355 EUR).
"Taureni" - the total area of village is 13 ha, the quantity of houses -42, the area of land 1500 -2600 sq.m, the area of houses 200 -350 sq.m. The price is not known, but infrastructure and planning are on a very high level. There is a good demand, because it is one of the most successful projects in Babite.
 
Note: In the graphics are included lands, houses and the cases , where land is devided into 300 -3000 sq.m in these territories: Baldone, Balozi, Olaine, Salaspils, Saulkrasti, Sigulda, Vangazi, Adazi county yard, Allazi county yard, the rural territory of Baldone, Babite county yard, Carnikava county yard, Daugmale county yard, Garkalne county yard, Inchukalns, Krimulda, Kekava, Malpils, Marupes, Olaines, Ropazu, Salas county yards, the rural territory of Salaspils, the rural territory of Saulkrasti, Sejas, siguldas and Stopinju county yards.
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Property in Bulgaria - INFO FOR INVESTORS - MARKET OVERVIEW - Land for construction
