The Impact of Covid-19 on Real Estate Deals within Latvia

Scientific Problems of Engineering Economics of Construction and Real Estate Management, Regions and Territories Development ICEREE’2020”: Organized within 61th International Scientific Conference of Riga Technical University: Book of Abstracts 2020
Ivo Gulbis, Aivars Gulbis, Sanda Lapuķe, Deivids Gjukša

At the beginning of 2020 the world was hit by an unprecedented outbreak of a very infectious disease that changed the way the world operated. Many industries and economic sectors suffered as a result. The real estate sector was rocked worldwide and Latvia was no exception. This paper examines the consequences that the pandemic has had on the real estate sector in Latvia by using the latest available data. Our preliminary findings conclude that the pandemic has caused a drop in nearly 40% year on year drop in deal volume due to the pandemic. This has caused significant problems, especially in certain regions that were just starting to recover from the last financial crisis.

Keywords
COVID-19, Latvia, market analysis, real estate.
Hyperlink
https://buni.rtu.lv/wp-content/uploads/sites/68/2020/10/ICEREE2020-Abstracts.pdf

Gulbis, I., Gulbis, A., Geipele, S., Gjukša, D. The Impact of Covid-19 on Real Estate Deals within Latvia. In: Scientific Problems of Engineering Economics of Construction and Real Estate Management, Regions and Territories Development ICEREE’2020”: Organized within 61th International Scientific Conference of Riga Technical University: Book of Abstracts, Latvia, Riga, 1-3 October, 2020. Riga: RTU Press, 2020, pp.11-11. ISBN 978-9934-22-511-6.

Publication language
English (en)