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Energy Efficiency Trend in the Latvian Residential Property Market

Author

Listed:
  • Welikala Don Hasitha Nirmal

    (Riga Technical University, Riga, Latvia)

  • Lapuke Sanda

    (Riga Technical University, Riga, Latvia)

  • Kundzina Antra

    (Riga Technical University, Riga, Latvia)

  • Sharma Medha

    (Boston University Metropolitan College, Boston, USA)

  • Sanchaniya Rashmi Jaymin

    (Riga Technical University, Riga, Latvia)

Abstract

This research examines the influence of energy efficiency on the residential real estate market in Latvia, highlighting its environmental and socioeconomic aspects. The impact of laws, regulations, and market dynamics on energy efficiency enhancements is also highlighted, outlining current trends, regulatory structures, and economic elements that facilitate or obstruct the implementation of energy-saving initiatives. Special emphasis is placed on the impact of these policies on residential property prices, market dynamics, and the relationship between supply and demand. This research analyzes energy-related regulations and identifies deficiencies in the regulatory framework, elucidating the intricate relationship among law, market dynamics, and consumer behavior. The research mainly relies on empirical study methods, outlining the basis for a well-defined approach to evaluation, performance, and energy-saving solutions in the Latvian residential sector. The data was acquired by circulating a detailed survey among industry experts and residents of Latvia. The data was thoroughly evaluated using multiple regression analysis to estimate the property values in Latvia, which is impacted by numerous variables. The IBM SPSS program was used for statistical analysis.

Suggested Citation

  • Welikala Don Hasitha Nirmal & Lapuke Sanda & Kundzina Antra & Sharma Medha & Sanchaniya Rashmi Jaymin, 2025. "Energy Efficiency Trend in the Latvian Residential Property Market," Baltic Journal of Real Estate Economics and Construction Management, Sciendo, vol. 13(1), pages 91-106.
    • Handle: RePEc:vrs:bjrecm:v:13:y:2025:i:1:p:91-106:n:1008
    DOI: 10.2478/bjreecm-2025-0008
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