In May and June each year, premium real estate along the coastline of the Gulf of Riga traditionally enjoys great demand from potential buyers. This spring has seen demand increase 15% year-on-year. And, in the opinion of experts from Baltic Sotheby’s International Realty (a company operating with high-quality residential real property), foreign customers have started to show higher interest for premium objects in “quiet” Jurmala (Lielupe/Bulduri) and beyond the resort town (Engure/Roja).

Foreigners generally start thinking about purchasing real estate in Jurmala as early as January. Still, for Baltic Sotheby’s International specialists, the May/June period is traditionally considered hottest. “Compared to last May, demand for premium realty in Jurmala has grown 15%; compared to January this year, the increase is 30%,” stressed Vestards Rozenbergs, co-owner and chairman of the board of Baltic Sotheby’s International Realty, “About 70% of our buyers are interested in apartments – usually in new projects”. Rozenbergs says that Baltic Sotheby’s International has a broad base of both available objects (premium apartments, houses and villas) as well as new projects (about 30 projects in various stages of development), ranging from 2,500 to 7,000 EUR/sq.m.

Adds Ilze Mazurenko, co-owner of Baltic Sotheby’s International Realty:

“This summer’s trend is premium real estate somewhat farther from the loud and animated Jomas Street. This means Lielupe and Bulduri, as well as the stretch from Engure to Roja, outside Jūrmala. These areas are calmer and quieter – and the plots are larger as well. However, we still get customers who love their loud summertime parties and prefer objects very close to the Dzintari concert hall.” She says that buyers have become more selective. Besides traditional demands for proximity to the sea and infrastructure, customers also expect a high-quality full finish.