Housing prices rise by 11% — faster than trees grow in Jūrmala Park

Latvian statisticians proudly announced that housing prices rose by 11% in the fourth quarter, which is almost as surprising as the news that it's windy in Liepāja. New homes became 6.4% more expensive, while used ones rose by 11.8%, meaning old houses are growing faster than trees in Jūrmala Park.

Compared to 2015, housing prices have increased by 124%, which is almost as remarkable as the fact that Liepāja still has better air than Riga. Local real estate specialist Valdis comments: "I remember when for the money that now gets you a one-room apartment in Riga, you could buy half of Liepāja. Now for that same money you can only buy a peaceful stroll through Jūrmala Park and dream about your own house."

Particularly interesting is that used homes are getting more expensive faster than new ones, proving that in our country even old things become more valuable over time. This is contrary to Riga logic, where everything just degrades. Expert Gunārs adds: "A used home is like good wine — the older, the more expensive. Only unlike wine, a house doesn't give you headaches."

Although prices are rising at cosmic speed, Liepāja residents maintain their optimism. As local housewife Ausma says: "If we can't afford a house, at least we can afford to walk through Jūrmala Park and listen to those ancient trees swaying. It's free, and there's no Riga noise there."