Real Estate Market Expanded with New Residential Complex, Panorama Residence

Latvia’s real estate market is officially being expanded with the opening of a new residential complex, Panorama Residence.  The SIA Rossel company has concluded an agreement with the exclusive real estate company Baltic Sotheby’s International Realty for this reason.  Concluded late in August, the agreement gives Baltic Sotheby’s International Realty the right to organise the process of sales.

Panorama Residence obtained its name because of a change in ownership.  It is located in Lielirbes Street and is part of the Panorama Plaza shopping centre.

“In order to sell flats in our new building, we felt it best to attract a professional real estate company such as Baltic Sotheby’s International Realty to help us,” says SIA Panorama Residence board member Uldis Kiršteins.  “The company’s international experience and broad network of agents all over the world will ensure that the transactions will be successful.”

“The real estate market now involves 120 flats in the building at Lielirbes Street 13,” says real estate expert Ilze Mazurenko, who is also a co-owner and board member of Baltic Sotheby’s International Realty.  “The size of the flats ranges between 67 and 144 m2.  The building is in a good location, it has a well-developed infrastructure, the interior design is at a high level, and all of this determines the price of the properties, beginning at EUR 2,100/m2.  The obvious advantages of the building are largely dictated by interest among Latvian residents and foreigners.  Several transactions have been started in a very short period of time, and some of the flats have already been reserved.”

The location of the Panorama Residence complex allows residents to reach any part of the city in just a few minutes’ time.  The shopping centre that is in the complex ensures convenient shopping and receipt of everyday services.  The new building has state-of-the-art video monitoring, 24/7 security services, an underground car park, a well-improved outdoor territory with a playground for children, and a car park for the building’s guests.

Construction of the third building of the Panorama Residence complex at Lielirbes Street 15 is to begin anew during the course of the next year.

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