The Latvian government plans to restrict the ability of Russian citizens to buy land in Latvia, LETA reports. The ruling three-party coalition has agreed on the plan conceptually, following a proposal from the Ministry of Agriculture. The government will analyse the example of similar draft legislation in Finland. Latvian Foreign Minister Baiba Braze has discussed…
Several countries have expressed interest in renting Estonia’s empty prison space, according to the Ministry of Justice, ERR reports. A ministry official said that neighbouring countries had shown interest, and that European statistics indicated a demand for prison space. However, legislative amendments were needed before renting out prison space, the official added. Earlier reports suggested…
Nearly 1,000 Jews have submitted claims for compensation for property illegally expropriated in Lithuania during the 20th century, BNS reports. The Good Will Foundation (GVF), which handles the claims, is currently evaluating 951 applications. The evaluation process involves three stages: checking administrative eligibility, review by the restitution committee, and final decision by the foundation’s board….
House prices in the Baltic States rose the most in Lithuania in the first quarter of 2024, according to Eurostat data, LSM reports. Compared to the first quarter of 2023, house prices increased by 9.9% in Lithuania, 7.8% in Estonia, and 3.7% in Latvia. Compared to the fourth quarter of 2023, house prices went up…
Latvia’s Riga City Council may revise its property tax policy to address the issue of abandoned and empty shopfronts in the Old Town, LSM reports. Also, the city council has invested EUR 1.5mn in promoting Riga as a tourist destination and will launch a major redevelopment project for two streets in the Old Town to…
Latvia’s ruling coalition will soon need to discuss “painful decisions” on taxes, Prime Minister Evika Silina stated, LETA reports. Speaking in an interview with TV3, Silina said that simplifying taxation was an important priority. The Ministry of Finance has developed potential proposals for changes on real estate tax, labour costs, corporate income tax, VAT, small…
Estonia’s capital, Tallinn, plans to remove Soviet symbols from city-owned buildings by the end of 2024, ERR reports. The Estonian parliament passed corresponding legislation in 2023. However, President Alar Karis has refused to sign the legislation due to “legal ambiguities.” Deputy mayor Madle Lippus notes that changes to protected buildings require approval from the National Heritage…
Estonia’s GDP totalled EUR 37.7 billion at current prices in 2023, which was down 3% from 2022, according to data from Statistics Estonia, ERR reported. Robert Müürsepp, national accounts team lead at Statistics Estonia, said that Estonia’s economy was in broad-based recession in 2023, with decline recorded in most major sectors. Information and communication had…
Lithuanian real estate developer Hanner will take over the project to build a new national stadium in Vilnius, the city’s mayor, Valdas Benkunskas, announced, BNS reports. Vilniaus Daugiafunkcis Kompleksas, the original concessionaire on the project, is managed by private equity fund management company BaltCap, which is mired in a major embezzlement scandal. Under the new…