Strengthening Latvia’s Housing Affordability Fund
The Latvian government established the Housing Affordability Fund in mid-2022, a long-term self-sustaining financing model to channel investment into affordable housing. The fund is now being scaled up to ensure lasting impact on the Latvian housing market. This report identifies options for institutional arrangements, funding and financing opportunities, and operational tools to achieve this aim. It draws on the rich and diverse experiences of four peer countries in establishing and operating revolving fund schemes for affordable housing (Austria, Denmark, the Netherlands and Slovenia), and also reflects findings from engagement with a range of stakeholders in the Latvian housing sector.
Boosting investment in affordable housing in Latvia: The potential of a revolving fund scheme
This chapter provides an overview of the housing affordability and quality gaps in Latvia, and assesses the investment needs to address these gaps. It summarises the main steps taken by the Latvian authorities to establish the Housing Affordability Fund and the key features of the Fund. The chapter also presents views from a broad cross-section of Latvian stakeholders on both the potential and risks relating to the implementation of a revolving fund scheme for housing in Latvia.
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