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Authors: Ilze Kramiņa, Linda Austere

Latvijas Būvniecība, Nr.3, May/June 2014

If we were to prepare an overview of the investment environment in real estate development and construction in Latvia for the needs of a potential investor, we would find that the situation, if not perfect, then at least satisfactory and to a large extent is compliant with basic standards of democratic European countries. Legal regulations do not only provide for, but they really are being and have been used as a guidance for sustainable development strategies, development programmes, spatial planning, local planning, and detailed planning. There is a detailed, although highly variable, legal regulation framework for spatial development planning, uniform for all municipalities guidelines for general spatial planning, use and building regulations, land management regulations, detailed environmental impact assessment process, new Construction Law, building regulations, both current and those at the stage of drafting, a number of Latvian construction standards.

In any case, an overview for an anonymous investor regarding investment environment in real estate development and construction (on paper) would be wide and encouraging enough to give an idea of a sufficiently transparent and straightforward, although rather meticulous process, however, with no unexpected surprises in implementation of ideas.

Full article in Latvian language available here.