Latvian municipalities have begun switching on central heating for households amid the onset of colder weather, LETA reports. Riga’s municipal housing company, Rigas Namu Parvaldnieks (RNP), began providing heating to tenants on 4 October 2024. RNP will turn off heating automatically on warmer days. The Jekabpils municipality will switch on heating in kindergartens first and…
Estonia’s housing price index rose by 6.7% in the second quarter of 2024, compared to the same period of 2023, according to Statistics Estonia, ERR reports. Compared to the first quarter of 2024, the index rose by 2.8%. Apartment prices rose by 2.9% and house prices by 2.4% over a quarter. Apartment prices rose by…
The Estonian government has allocated a record EUR 185mn of EU funds for renovating apartment buildings, ERR reports. Infrastructure Minister Vladimir Svet said that another EUR 80-90mn would be available for renovations annually over the next three years. The state will thus provide altogether almost EUR 500mn of support through various instruments for apartment building…
Average housing prices in Latvia rose by 1.1% in the second quarter of 2024 from the same period of 2023, according to provisional data from the Central Statistical Bureau (CSP), LSM reports. Prices of new housing increased by 11.4%, whereas the average price of existing housing dropped by 2.0% over a year. Compared to the first…
Consumer prices in Latvia rose by 0.7% in August 2024, compared to the same period of 2023, according to the Central Statistical Bureau’s (CSP) data, LETA reports. Compared to July 2024, consumer prices fell by 0.5%, however. Prices of food and non-alcoholic beverages increased by 3.5%, alcoholic beverages and tobacco by 7%, clothing and footwear…
Latvia’s Financial Sector Development Board (FSAP), chaired by Prime Minister Evika Silina, reviewed the country’s anti-money laundering (AML) measures during a meeting on 5 September 2024, LSM reports. The Financial Intelligence Unit (FID) reported on Latvia’s progress in relation to the Council of Europe’s evaluation of the country’s AML efforts. The meeting also addressed concerns…
Lending in Latvia remains slow, with high interest rates compared to the Eurozone, particularly in the housing and corporate sectors, according to the Bank of Latvia, LETA reports. While home loan interest rates have decreased slightly since 2018, they are still two percentage points higher than the Eurozone average, partly due to the dominance of…
The Latvian government has decided to pay compensation to low-income households for rapid rises in energy prices, LSM reports. The permanent support mechanism will apply to exceptional price increases for electricity, heating, and biomass fuels. Households with per capita income of up to EUR 473 per month and housing expenditure of at least 30% of…
Estonia’s three ruling parties are likely to draw up a new coalition agreement by 19 July 2024, the Estonian Reform Party’s candidate for prime minister, Kristen Michal, stated, ERR reports. He said that the three parties had already agreed on the majority of the text in the most important policy areas: competitiveness, growth, public finances,…