Is the Baltic property bubble about to burst?

By Gary Peach

RIGA - A Western bank has forecast that Baltic property prices, which have been the source of fantastic speculation – and wealth – in recent years, have reached their zenith and that the real estate market is about to undergo a major reassessment downward. Danske Bank, which hasn’t shied from criticism of the Baltic governments for failing to deal adequately with a range of macroeconomic imbalances, wrote in a research note dated Aug. 8 that “clear signs” have emerged that the property boom h ...

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