On December 3 of this year, the Cabinet of Ministers approved the Implementation Plan for the Housing Availability Guidelines for 2024–2027. This plan outlines measures to ensure housing availability for households across various income levels, including those with the lowest incomes. It also includes investments in improving the existing housing stock and promoting investments in the development of new housing.

“Increasing housing costs and availability for low- and middle-income households are challenges across Latvia. Therefore, housing availability is a top priority. It should be noted that the lack of new and renovated housing affects not only vulnerable groups but also, for example, young professionals,” said Minister of Economics Viktors Valainis.

The Housing Availability Guidelines for 2023–2027 were approved by the Cabinet of Ministers on November 7, 2023, aiming to stimulate investments in housing development, increasing the housing stock by 1% annually, or approximately 10,000 homes each year.

The municipal housing stock in Latvia is in poor technical condition, and municipal support does not reach all individuals who need assistance resolving housing issues. To promote housing availability for vulnerable groups, a new law is planned to replace the existing "Law on Assistance in Solving Apartment Issues." The new law will revise the criteria for individuals eligible for municipal rental housing and the minimum quality requirements for municipally rented residential premises. Additionally, the plan includes support from the Ministry of Economics for constructing or renovating social and municipal rental housing.

Approximately 44% of households in Latvia are too affluent to qualify for municipal housing support but earn too little to afford housing at market prices. This underscores the state's critical role in ensuring financially accessible housing. To address this, a Low-Cost Rental Housing Program will be implemented in the coming years, alongside the development of a public-private partnership program to support affordable rental housing.

To support households with moderately high incomes, it is essential to continue and enhance the existing Altum housing guarantees for families, young professionals, and National Armed Forces soldiers. These guarantees not only provide housing access for these groups but also stimulate lending, particularly in the regions, and play a crucial role in demographic improvement. It is also important to support real estate developers in the regions by providing loans and guarantees for housing construction under market conditions, fostering new housing development beyond Riga and its surrounding areas.

The plan also includes various measures to improve the existing housing stock and enhance energy efficiency. These measures include implementing support programs that provide differentiated assistance for improving residential energy efficiency. Efforts will also be made to promote the use of local resources (e.g., factory-produced wooden insulation panels) for housing renovation, prepare renovation model projects for the most common apartment building series, and reduce the administrative burden in decision-making and real estate development processes.

The implementation of the Housing Availability Guidelines for 2024–2027 will be overseen by the Ministry of Economics, the Ministry of Finance, the Ministry of Smart Administration and Regional Development, the Ministry of Justice, and the Ministry of Welfare. The measures will be funded within the allocated budgets of the respective ministries, as well as through the Recovery Fund, EU fund investments, and financial resources available through Altum.