The State Enterprise “Valsts nekustamie īpašumi” (VNĪ) has failed to sell the so-called Moscow House on Marijas Street, Rīga, in the fifth auction, according to information on the electronic auction website, LETA reports on 17 April.
The starting price of the auction was EUR 2.142 million, and the bid was EUR 10,000.
No bids were made for Moscow House.
In the first auction, which ended in September 2024, Moscow House was offered for sale with a starting bid of €3.57 million. The starting price was then reduced by 20% and the property was offered for at least €2.856 million in a second auction, and the starting price was reduced to €2.499 million in the next auction, which ended on 9 December 2024, but no bidders came forward for this auction either.
In the previous auction, which closed on 24 February 2025, the property was offered for sale for a starting price of €2.142 million, also unsuccessfully.
The property at Marijas Street 7 consists of a 966 square metre plot of land and a building on it.
The building belonged to the Property Department of the City of Moscow until the Saeima decided on 11 January 2024 to take it into Latvian state ownership.
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