Latvian construction market at junction of major changes

Staff and wire reports

RIGA - The structure of Latvia’s building industry is set to shift from private to public financed projects this year as the housing market continues to cool down, industry experts said. Demand for residential space will fall, according to Ivars Geidans, a top executive at Merks, a Latvian subsidiary of an Estonian construction firm, while orders for state and municipal property development will increase. “If most of the projects in 2007 were residential apartments, in 2008 these could be in ...

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