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ARCO REAL ESTATE presents standart type apartment market overview in August. Be aware of real estate market!
In August 2013, the prices of standard-type apartments located in Riga housing estates had the trend of a slight growth. A slight price increase was found in almost all the largest Riga housing estates. The average standard-type apartment price has reached the level of 604 EUR/m² in August, and the average price growth was 0.3%.
In despite of a slight increase in prices, the situation in the apartment market is stable. One of the reasons of the small price increase is the lack of adequate apartment supply. Apartments are often purchased above their real market value. Another factor for positive price movements is shrinking of the rental market and rise of the apartment rent level. People are choosing purchase of real estates, which in turn contributes to an increase in the demand.Total standard-type apartment price growth has reached 1.5% this year and is likely to be similar to that in 2012 - about 2%.
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16.09.2013.