In April, 2,274 real estate transactions were registered, according to information compiled by Lursoft. The total value of these transactions reached €84.81 million.

Compared to March of this year, 16.12% fewer real estate transactions were registered in April, which is very likely explained by the Easter holidays, during which transaction activity decreased. This is also confirmed by data available from Lursoft when analysing real estate transaction activity by week. For example, in the period from 27 March to 2 April, 922 transactions were registered, while from 3 to 9 April – 714, and from 10 April to 16 April – only 591.

At the same time, it is possible that the number of transactions is also falling due to rising EURIBOR credit rates, which are causing greater caution and leading buyers to postpone their planned real estate purchases.

As has been customary in previous months, most transactions in April involved groups of premises (51.51% of the total number of transactions registered in April). Transactions involving land accounted for 28.89% of the total number of transactions in April, while land with buildings accounted for 19.70%.

Lursoft has discovered that not only were transactions involving groups of premises the most numerous, but their average value was also the highest compared to other types of transaction objects. Lursoft has calculated that the average value of transactions involving groups of premises in April was €29,000 (in March – €32,000), for land with buildings – €15,850, while the average value of land transactions was €10,000. At the same time, it should be noted that among the top 25 largest real estate transactions registered last month, the 1st and 2nd places are held by land property transactions.

Unlike March, when there were three transactions valued at over €1 million, the largest real estate transaction in April was €799,000. This involved a 6,674 m² plot of land in Riga, at 5 Rasas Street. Information found in the Lursoft record shows that this particular plot of land is intended for the construction of commercial facilities.

Lursoft has discovered that the plot of land at 5 Rasas Street, Riga, was purchased by SIA Pantheon, which operates in the real estate sector and is owned by Artūrs Stikuts and Evgeny Bobrenev. Through SIA Pantheon, both entrepreneurs also indirectly own SIA SMALKI, established in 2011, whose core business is related to the construction of residential and non-residential buildings. Neither SIA Pantheon nor SIA SMALKI have yet submitted their financial reports for 2022. While SIA Pantheon did not generate revenue from economic activity in 2021, SIA SMALKI had a turnover of €84,700 and a profit of just under €35,000. Lursoft data shows that the co-owner of both companies, Artūrs Stikuts, also owns the tour operator service company SIA In style promotions.

In the list of the top 25 largest real estate transactions, the next two largest transactions were also registered in Riga – a land transaction worth €670,140 (3,723 m² of land for the construction of an apartment building) and an apartment on Skanstes Street.

The six-room apartment located in Skanstes virsotnes was purchased for €602,100. The total area of the two-storey apartment is 211.8 m², while the transaction area for the group of premises reaches 322 m². It should be noted that 1,066 apartment transactions were registered last month, with the average transaction value reaching €31,500, and it should be added that in 100 cases, the apartment transaction value reached at least €100,000. Almost 47% of all apartment transactions in April were registered in Riga (500), with 77 in Liepāja and 55 in Daugavpils.

Data from the Lursoft study shows that real estate transactions were registered in all municipalities in April. Most, of course, were in Latvia's largest cities (Riga – 772, Liepāja – 104, Daugavpils – 88), followed by Rēzekne Municipality. Last month, 72 real estate transactions were registered in the territory of Rēzekne Municipality, of which 46 were land transactions. The largest of these was a transaction involving agricultural land in Freimaņi Parish, Rēzekne Municipality, covering an area of 229,200 m². Information in the Lursoft record shows that 204,800 m² of this area consists of forest land. It should be noted that this was the only transaction in Rēzekne Municipality last month with a value exceeding €100,000. Lursoft calculated that the average value of real estate transactions in the territory of Rēzekne Municipality in April was €3,700.

Municipalities where the most real estate transactions were registered in April:

1. Riga: 772 transactions;

2. Liepāja: 104 transactions;

3. Daugavpils: 88 transactions;

4. Rēzekne Municipality: 72 transactions;

5. Jūrmala: 63 transactions;

6. Augšdaugava Municipality: 54 transactions;

7. Valmiera Municipality: 53 transactions;

8. Dienvidkurzeme Municipality: 52 transactions;

9. Ventspils: 50 transactions;

10. Mārupe Municipality: 49 transactions.