Sotheby's realty franchise goes to Baltics

Realogy subsidiary Sotheby's International Realty Affiliates announced its expansion into the Baltic states this week.

Baltic Sotheby's International Realty is located in Riga, the capital of Latvia. The firm will also serve Estonia and Lithuania and plans to open offices in each within the next two years. The three states have a combined population of about 7 million, according to the United Kingdom's Foreign and Commonwealth Office.

"We have strong local partnerships, good client relationships and a professional infrastructure where we focus on high-level training for each of our sales agents," said Vestards Rozenbergs, the firm's co-owner. 

"The market throughout the Baltic region remains stable for high-end properties and demand is still high from Russian buyers especially."

The firm's listings will available for view on the sothebysrealty.com global Web site. The luxury market network currently has about 10,600 sales associates located in about 500 offices in 38 countries and territories worldwide, according to the announcement.

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