Banks are planning to establish separate enterprises for keeping up of real estate, which fails to be sold in auctions due to stagnation in the real estate market, Latvian daily Dienas Bizness reports. “Possibly, the flats could be rented out,” admits Dzintars Kalnins, head of Private Banking Department in Swedbank. “If banks will enter this market, prices can be scaled down significantly and nobody will be able to compete,” says Janis Lasmanis, president of holding company Kolonna.
Source: BBN
Filed under: Banking, leasing, insurance, Real estate
