Q2 Latvian residential price growth slows dramatically

Residential price growth in Latvia for the second quarter of the year slowed to 2.68 percent, year-on -ear. This is significantly down on last years growth of 6.23 percent, and is the lowest figure released since Q4 2015. Compared to Q1 2018, there has been a fall in property prices of 0.25 percent in the Latvian capital, Riga. Despite this slowdown, residential prices are expected to remain stable as a result of the buoyant Latvian economy, which has seen GDP rise by 5.1 percent in the past year. The European Commission expects Latvia's economy to continue to grow, by 3.3 percent this year and by 3.2 percent in 2019.