ARCO REAL ESTATE

 

In January 2010 the price increase was observed in comparison with the previous month - the standard-type apartments prices in Riga in general increased on average for 4,6% in January. The highest price increasing was observed in Iļģuciems (7,6 %), the same as in Āgenskalns (6,6%). In its turn absolutely insignificant price increase was established on Teika (2,2%). Presently it is the fourth month when the prices have tendency to increase. The proposals quantity also increased in January by 14,4%, wherewithal returned on the level of November 2009.

 

The general price level increase could be interpreted by the disappearing of low-cost proposals. The owners could increase prices for their property the same as taking into consideration the growth of customers’ interests that was generated by consumers who were waiting for lowest price threshold and also bought the property in November – December month period and accordingly it increased the demand.

 

The average price of a standard-type apartment in January increased to 545 EUR/m². Thereby the prices were on average lower by 66.4 % than on July 1, 2007, when the average price of a non-renovated standard-type apartment was 1620 EUR/m². For its part, in comparison with January 1, 2009, in total the average price of a non-renovated standard-type apartment reduced by 41,6. There could be made the conclusion that in January the prices returned to the level of May/June 2009, when the average price was 508 - 572 EUR/m².

 

More detailed information is available on the website>>

 

/11.02.2010./