A sharp drop in the Euribor interbank rate by 0.25 percentage points in June 2024 and subsequent easing reduced the cost of mortgage lending. This brought buyers back to the market, especially large families and investors.
After the winter slump, an unexpected surge in transactions was observed in January: the number of available properties fell by more than a third, and some market segments experienced shortages. This signaled a recovery in demand.
New changes in legislation have eased refinancing conditions, with a number of fees abolished and commission thresholds reduced. This has encouraged homeowners who are willing to change their loan terms.
Renting a home to avoid extreme risks is becoming a lifestyle choice—renting is no longer just a temporary measure, but a full-fledged alternative to buying. Cafes, coworking spaces, and city services have moved renting into a new category.
Latvians continue to invest in housing abroad, especially in Southern Europe, and foreign investors are attracted by the growing rental market – but government regulation has already restricted short-term rentals in some countries.
There is active construction of rental housing (ALTUM projects) in the regions. However, housing shortages in cities such as Ventspils, Cesis, and Jurmala remain a problem.
According to estimates, average housing price growth rates in Latvia are expected to be in the range of 3-7% by the end of the year. For example, a 60 m² apartment in Riga for €150,000 could rise in price to €154,500-160,500.
Breakdown by property type:
Property type Growth forecast
Studio (30 m², €75,000) to €77,250-80,250
Apartment (75 m², €200,000) to €206,000-214,000
Penthouse (100 m², €500,000) up to €515,000-535,000
Where the highest price growth is expected
Imports of goods to Ukraine in January-May 2025 reached $31.3 billion, which is 13.8% more than in the same period of 2024, but exports remained at the same level as in the same period last year, at $16.9 billion ($16.8 billion in 2024), according to the State Customs Service of Ukraine.
“Taxable imports amounted to $23.8 billion, accounting for 76% of total imports. The tax burden per 1 kg of taxable imports in January-May 2025 was $0.51/kg,” according to a publication on the agency’s Telegram channel on Friday.
The leaders among importing countries have remained unchanged for the last three months: China – $6.5 billion, Poland – $2.9 billion, and Germany – $2.6 billion.
For the second month in a row, the top three exporting countries are Poland ($2 billion), Turkey ($1.4 billion), and Italy ($1 billion).
In the total volume of goods imported in January-May 2025, 68% were machinery, equipment, and transport—$11.9 billion (with customs clearance of these goods, 75.6 billion UAH, or 29% of customs payments, were paid to the budget), chemical products – $5.2 billion (UAH 41 billion and 15%, respectively), and fuel and energy – $4 billion (UAH 72.6 billion and 27%).
The top three most exported goods from Ukraine traditionally included food products – $9.7 billion, metals and metal products – $1.9 billion, and machinery, equipment, and transport – $1.5 billion.
According to the State Customs Service, in the first five months of 2025, UAH 121.6 million was paid to the budget during customs clearance of exports subject to export duties.
According to the results of 2024, Ukraine produced 7.1 million tons of pig iron, of which 1.3 million tons were exported. Apparent consumption of pig iron increased to 5.8 million tons, which is 21% more than in 2023 (4.8 million tons).
Ukraine rose to 10th place in the global ranking of net pig iron exporters with 3.4 million tons, while in 2023 it ranked 12th with 2.2 million tons.
Despite the positive dynamics in pig iron production and exports, Ukraine remains outside the top 20 steel exporters, a status it lost after 2021, when it exported 15.7 million tons of metal products and ranked 10th in the world.
In 2024, Ukraine increased its apparent steel use by 5.9% compared to 2023, from 3.4 million tons to 3.6 million tons. Per capita consumption was 95 kg (compared to 93.4 kg in 2023). This is significantly lower than the global average of 214.7 kg per capita.
According to Worldsteel, Ukraine produced 7.6 million tons of steel in 2024 (6.2 million tons in 2023), ranking 22nd in the world. Despite the growth, Ukrainian companies did not make it into the list of the world’s 50 largest steel producers, whereas in 2014–2021, the Metinvest Group was present in it.
The world leaders in steel production in 2024 remained China Baowu Group (130.09 million tons), ArcelorMittal (65 million tons), Ansteel Group (59.55 million tons), Nippon Steel (43.64 million tons), and HBIS Group (42.28 million tons).
The Ministry of Development of Communities and Territories of Ukraine (Ministry of Development) and the Ministry of Transport of Norway have agreed to extend the liberalization of freight transport until the end of 2025 with the possibility of automatic renewal.
“Transport visa-free travel” is about strengthening economic ties, saving resources, and improving business efficiency. I am grateful to our partners in the Norwegian government for supporting this decision. We are working to expand these opportunities next year,” said Deputy Prime Minister for the Restoration of Ukraine, Minister of Community and Territorial Development Oleksiy Kuleba in a press release.
It is noted that the liberalization of transport with Norway has been extended for the second time. The first such agreement between the countries was reached in August 2023. To date, “transport visa-free travel” is available with 35 countries, including the EU.
The Ministry of Development reminds that drivers must have a certificate confirming the environmental class of the vehicle on board in order to take advantage of the transport liberalization conditions.
As reported, in April, “transport visa-free travel” between Ukraine and the EU was extended until the end of 2025.
Prime Minister Denys Shmyhal says that 5.6 million hectares of spring cereals and legumes and 7.7 million hectares of industrial crops have been sown in Ukraine.
“Farmers are completing the fourth spring sowing during a full-scale war. 5.6 million hectares of spring grains and legumes have been sown. We have reached last year’s level. The highest sowing rates are in the Poltava, Chernihiv, Vinnytsia, Cherkasy, and Sumy regions,” Shmyhal wrote on Telegram.
According to him, a distinctive feature of this season is an increase in the area under spring wheat, which currently stands at almost 220,000 hectares, due to demand from processing companies and exporters.
“In addition, 7.7 million hectares have been sown with industrial crops, mainly sunflowers (4.9 million hectares) and soybeans (2.3 million hectares),” the prime minister said.
Shmyhal stressed that the total area sown is sufficient to meet domestic food needs and develop export potential.
