Survey: Latvia’s housing prices tumble by half in first quarter

Housing prices in Latvia have dropped by half during the first three months of this year compared to the same period in 2008, according to a new survey by Global Property Guide.

That’s the steepest decline among the 32 countries in the survey, the results of which were announced June 1.

“Latvia is in surprisingly deep trouble,” according to the survey. “Average apartment prices in Rīga declined an astonishing 50 percent over a year earlier, to EUR 747 per square meter, with a 30 percent drop during the quarter.”

On Jan. 1, 2008, the average price of a standard apartment in Latvia stood at EUR 1,405 per square meter, according to Rīga-based Arco Real Estate.

The Philippines-based Global Property Guide blamed a number of factors for the loss of property values around the world: “personal consumption expenditure decreased, consumer confidence remained low, credit remained tight and the unemployment rate worsened.”

Latvia landed in last place in the survey. Dubai, in the United Arab Emirates, was second to last with a 35 percent drop.

The real estate markets in only five countries showed improvement over last year, according to the Global Property Guide. Switzerland led the pack with a 4.31 percent increase in housing prices, followed by Thailand, Austria, Israel and the market in Shanghai, China.

Apartment prices in Latvia continued to decline during April, albeit at a slower pace, dropping 5.7 percent from March, according to Arco Real Estate. The average price of a standard apartment dropped to EUR 572 per square meter.

Arco also noted a 30 percent decrease in the number of apartments being advertised for sale.

The real estate market, according to a statement by Arco board member Māris Laukalējs, has begun to stagnate.

Andris Straumanis is a special correspondent for and a co-founder of Latvians Online. From 2000–2012 he was editor of the website.

Šomase’s solo debut features all-star cast

Vārdos nepateiktais

Liene Šomase is a young Latvian singer who is attempting to forge her own path. Also a saxophone player, she first became known in 2006 with her hit song “Ugunskurs.” Not long after that, she joined singer Jānis Moisejs to record the album Pasaule ir skaista, with music by Raimonds Pauls and lyrics by Guntars Račs.

The few songs that I have heard from that album seemed to be simple melodies, as can be expected from Pauls, but generally what one might call bubblegum pop music—sickly sweet flavor to start, but with a taste that quickly disappears. Šomase’s latest compact disc, 2008’s Vardos nepateiktais, takes a different road.

Besides being Šomase’s first solo album, the music on Vardos nepateiktais has more of a hard rock sound to it. Her MySpace page lists artists Faith Hill and Shania Twain as influences—women who have very successfully mixed a country music sound with a harder rock sound. According to the MySpace page, Šomase “sounds like” other female artists Natalie Imbruglia, Avril Lavigne, Pink and, very curiously, Madonna (that one I can’t see at all!).

Highlights of the album include the up-tempo opener, “Jauna diena,” as well as the song “Klauns (dzīve nav rožu lauks).”

The obligatory track in English, “Get Over It,” is a rather harsh break-up song, featuring lyrics like “If you get the urge to call me, you can call me history.” The poor guy must have messed up pretty bad to get this sort of treatment!

Šomase’s first hit, “Ugunskurs,” is also here. The song is certainly more in a šlāger vein than the other tracks, though certainly still catchy.

One needs only to look at the album liner notes to see that the cavalry has been called in to work on this album. Tracks have been penned by a number of heavyweight songwriters, including lyricist Račs, former Līvi guitarist Ainārs Virga, singer-songwriter Mārtiņš Freimanis of Tumsa, as well as singer Lauris Reiniks, former Double Faced Eels bassist Eduards Veinbrants and drummer Mārtiņš Miļevskis of group h2o, among many others. Performers on the album include Tomass Kleins (another former Līvi guitarist), keyboardist Zigfrīds Muktupāvels and guitarist Uģis Tirzītis (both of bet bet). The credits read like a who’s who of Latvian music.

With such a team behind it, one would expect the album to be quite good. And it is! Šomase’s voice works well with this type of music. The rock music gives her strong vocals a more natural and appropriate setting.

The CD comes with a largely forgettable DVD, with a few clips from her performances on the talent show “Dziedi ar zvaigzni.” They include rather ordinary talent show performances of songs like Randy Newman’s “You Can Leave Your Hat On” and Lou Bega’s “Mambo No. 5.” Of interest is the interpretation of the Līvi hard rock hit “Dzelzsgriezējs,” which switches from the hard rock original to a lounge interpretation.

Some may say that there isn’t much original on this CD, and, with the army of songwriters employed to make the record, it would be more of a surprise if the album wasn’t a hit. However, compared to a lot of the dreary and dull pop music that is currently being recorded in Latvia, this is significantly better. Certainly it will be interesting to find out if Šomase can develop her own songwriting talents (she has a partial credit on only one song, “Vai tu zini”). It might also be worthwhile to gather a set backing band. Many of the songs were recorded by completely different lineups.

All things considered, I quite enjoyed listening to this album. The songs are catchy and fun, and far more memorable than the ones on Pasaule ir skaista. The fact that many of the songs feature actual musicians (rather than computer programmers), with some songs even featuring real drums, is a big plus. Šomase has made a recording that stands apart from many of the other recent albums released by young singers and is well worth a listen!

Details

Vārdos nepateiktais

Liene Šomase

MICREC,  2008

MRCD 386

Track listing:

Jauna diena

Pilsēta dejo

Tik dīvaini tuvs

Svešādā dzīve

Klauns

Slēptākās domas

Bet vai tu zini?

Tu esi mana mīlestība

Get Over It

Ugunskurs

Where to buy

Purchase Vārdos nepateiktais from Amazon.com.

Purchase Vārdos nepateiktais from BalticShop.

Note: Latvians Online receives a commission on purchases.

Egils Kaljo is an American-born Latvian from the New York area . Kaljo began listening to Latvian music as soon as he was able to put a record on a record player, and still has old Bellacord 78 rpm records lying around somewhere.

Latvian violinist named laureate in Queen Elisabeth competition

A 22-year-old woman from Latvia has been named a laureate in the 2009 Queen Elisabeth violin competition held in Belgium.

Vineta Sareika, who hails from Jūrmala, was chosen as one of six unnamed laureates out of 12 finalists in the competition. The first prize winner was Ray Chen of Australia.

Sareika is a graduate of the CNSM (Conservatoire National Supérieur de Musique et de Danse de Paris) in France, and since 2006 has continued her studies at the Queen Elisabeth College of Music in Waterloo, Belgium. As a member of the Dali Piano Trio, Sareika has won awards at several music competitions, including first prize in the 2008 Osaka Competition in Japan.

Her performances include concerts with the national orchestras in Belgium and Latvia, with orchestras in Poland and Portugal, and in venues around the world.

Sareika was one of 83 violinists entered in the Queen Elisabeth Competition. As one of 12 finalists, she performed during the week of May 25-30 in the Brussels Centre for Fine Arts. All finalists had to perform a sonata for violin and piano, a concerto, and the work named the winner of the 2008 Queen Elisabeth composition competition.

As a laureate, Sareika is to receive a cash award of EUR 4,000 and will perform a recital.

Vineta Sareika

Vineta Sareika of Latvia has been named a laureate in the Queen Elisabeth Competition in Belgium. (Photo by Laurent Friob)

Andris Straumanis is a special correspondent for and a co-founder of Latvians Online. From 2000–2012 he was editor of the website.