03.06.2009 - Latvian property market was world’s worst in first quarter
From Bloomberg: Latvian property prices plunged the most in the world in the first quarter as the economy fell into the steepest recession in the European Union, a survey by Global Property Guide showed. Average apartment prices in the Latvian capital, Riga, plummeted an annual 50 percent in the first quarter, the survey showed. The second-worst performing property market was Dubai in the United Arab Emirates, where house prices fell an annual 35 percent in the quarter.......Full Article: Source