The auction closed on October 31 without a result, as no bidders applied.
VNĪ's Management Board will be presented with a proposal to reduce the auction price by an additional 10% of the starting price, which will amount to 30% of the notional value. This decision is expected to be taken on November 5, after which the re-auction could be announced on November 8.
The starting price of the auction will be EUR 2,499,000. This is the second price reduction for the property. The first reduction of 20% was made in October 2024 after the first unsuccessful auction. The starting price of the first auction was €3.57 million.
According to the law adopted by the Saeima, the proceeds from the sale of the Moscow House are to be allocated to the support of the Ukrainian society, demonstrating the solidarity and assistance of the Latvian state to the Ukrainian civilian population.
VNĪ invites potential investors to follow the auction information on the official website izsoles.ta.gov.lv.