Latvia: State Audit Office warns of slow pace of housing renovation

Only 4% of multi-apartment houses in need of renovation in Latvia have been renovated, according to the State Audit Office (LRVK), LSM reports. Latvia has over 39,500 multi-apartment houses, of which at least 26,600 need renovation. Martins Abolins, member of LRVK’s council, noted that more than half of all multi-apartment houses in the country were built 40-50 years ago, LETA reported. According to LRVK’s report, the main reasons for the slow progress on housing renovation were the rapid rise of construction costs, insufficient funding, and lack of information. The report pointed out that timely renovation would reduce heating costs significantly. Apartment residents pay EUR 360-390mn for heating every year.