Real estate activities

Division 68 is real estate activities. It splits into three groups: dealing in own property and developing building projects (68.1), renting and managing own or leased property (68.2), and acting as an agent on a fee or contract basis (68.3). It is a capital-heavy sector — asset values run well above annual turnover, because the property itself sits on the balance sheet. Firms are mostly small, many hold just one property, and the return on capital is low.

12,338 companies in Latvia are classified under NACE code 68.