Used to live in Latvia once apon a time. Was a wonderful place with cheap prices for property and food, oil etc... Shame the way things are looking recently.
For those who do not speak Russian, here is a rough Alta Vista Babel Fish Translation:
In Latvia the prices on the dwelling fell more strongly than somewhere even in Europe.
A drop in the prices on the dwelling in Latvia in May composed 27,15%. This is the sharpest drop, which was fixed among 34 countries of the participating countries of the interrogation of " Global Of property Of guide". In the survey so it is indicated that the credit crisis and high inflation already more do not have an effect on an increase in the prices on the dwelling.
The following country, in the list of the friskiest to the drop prices on the dwelling, to the ides of the USA - there fixed drop on 14,8%. Further - Ireland, to 8,87%. Prices fell so in [Lyuksmburge], Portugal, in Malta and in Japan. Meanwhile, an increase in the prices was fixed in China, in Shanghai - to 40,47%. Further, in Slovakia - to 34,53%, Bulgaria - to 31,55%, Hong Kong - to 31,14% and in Singapore - to 29,82%.
In the survey so it is indicated that the credit crisis and high inflation already more do not have an effect on an increase in the prices on the dwelling. From the total number of countries, which participated in the survey, into 13 was only noted a small increase in the prices under the influence of inflation. Analysts indicate that on the end of the boom of real estate several factors had an effect. The relations of prices of purchase and lease of dwelling, in many countries to lease began more profitably than to buy among them. Also the inflation rate, which increased the interest rates, especially in the European Countries. But in the USA negatively was said high the risk of the mortgages.
Info by news agency LETA.