Priežavoti village
The Priežavoti village is a private residential development located in Bajāri, Salaspils Municipality, approximately 15–20 km from Riga, Latvia. The project encompasses a total of 250 planned private house plots, with 40 homes already constructed and sold as of early 2025. The remaining 210 homes planned to be completed by April 2030.
The village offers modern, energy-efficient wooden frame houses with A+ energy ratings, available in various sizes ranging from 60 to 125 m². Each property includes a 1200 m² plot and features such as underfloor heating, air-to-water heat pumps, and centralised utilities.
Strategy
In recent years, construction activity in Latvia has stagnated compared to other markets. This prolonged stagnation has led to a significant housing shortage, with a large proportion of outdated, aging homes. This creates fertile ground for new residential developments, as modern homes are much more affordable to maintain—especially in Latvia, where heating is used for half the year. The rising cost of natural resources has substantially increased heating expenses, making A-class energy-efficient homes much more economical than apartments in terms of heating costs. This makes them financially attractive to many consumers.
We have also observed high demand for properties priced below €200,000. This pushes developers to build smaller homes, as buyers are willing to accept less living space in exchange for owning a brand-new, modern home.
01
Infrastructure
Our village is fully equipped with central infrastructure, including electricity, sewerage, and an access road. All essential utilities are in place to ensure comfortable and convenient living for every homeowner.
02
Near Riga Living
Our village is located just outside Riga, offering the perfect balance between city access and peaceful suburban living. In recent years, more and more people have chosen to move to the outskirts, seeking more space, nature, and a better quality of life. This growing trend makes our location an ideal choice for modern families.
03
High demand
In our village, we plan to build compact apartment buildings priced at typical apartment levels to maximize the number of transactions. This strategy will help us successfully develop and complete the entire village within 5 to 7 years.
04
Understanding between buyers and investors.
To satisfy both our own and our investors’ appetite, we need to build homes that sell quickly and are in high demand. There is particularly strong demand for houses with relatively low prices, which can be achieved by reducing the floor area to apartment-like sizes. This allows the developer to secure fast and frequent sales.
