Investor caution is also felt in auctions!!!

Real estate on Tirgoņu street, Jūrmala, was auctioned at the auction organized by VAS “Valsts nekustamie ipāsumi”. On the other hand, the auctions for the building on Kalēju Street, Riga and for the real estate “Mālmuiža” in Lejasciema Parish ended without results and will be held again, informs Andris Vārna, a member of the VNĪ board. “We see that, in principle, investors are interested in investing in real estate located in the historical center of Riga, including the building on Kalēju street 50. At the same time, forecasts about the future actions of the European Central Bank, namely a possible further increase in interest rates, make investors cautious about a specific investment volume. We feel this caution in virtually all auctions. However, we are determined to give a new lease of life to properties further away from the capital. For example, the purchase of Mālmuiža is a great opportunity to clean up a historical place in Latvia,” emphasizes Vārna. At the auction held on July 14, with the participation of two bidders, real estate at 20 Tirgoņu street, Jurmala was bid for 168,700 euros. The starting price of the auction was slightly lower – 167,700 euros. The 1,320-square-meter plot of land, on which the administrative building with an area of ​​116.7 square meters is located, is located in the territory of the architectural and urban planning monument. The contract with the winner of the auction for the purchase of real estate will be concluded approximately one month after the buyer has made the payment for the auctioned property. On the other hand, the auction of the building at 50 Kalēju Street in Riga, which took place on July 17, ended without a result, although there was interest in this residential property. The starting price of the 1,803-square-meter five-story building was set at 970,000 euros. The administrative building was built in 17-18. century, rebuilt in 1925 according to the project of the architect Max von Osmidov. The building located between Kalēju and Rīdzenes streets is almost fully leased.

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At the auction held on July 14, with the participation of two bidders, real estate at 20 Tirgoņu street, Jurmala was bid for 168,700 euros. The starting price of the auction was slightly lower – 167,700 euros. Photo source: Db.lv (Publicity photo)

The auction of the building at 50 Kalēju Street, Riga, which took place on July 17, ended without a result, although there was interest in this residential property. The starting price of the 1,803-square-meter five-story house was set at 970,000 euros. Photo source: Db.lv (Publicity photo)