Predictions come true: the serial apartment prices continue to grow

  • A reasonable price increase continued in Rīga serial apartment market, which was observed the third month in a row. The market recovered after the price decrease that was observed at the end of the last year, and reached the price level of September 2014 again, being at the position of 641 EUR/m², indicates ARCO REAL ESTATE Member of the Board Māris Laukalējs, who emphasizes that the previously made predictions are coming true.

The biggest apartment average price increase per 1 m² in Rīga residential areas since the beginning of 2015 was observed in Jugla, (+ 2,3 %), Bolderāja (+ 2,2 %), and Āgenskalns (+ 2 %). The prices in this period increased also in the biggest part of other Rīga residential areas. The price level decreased only in Teika (- 2,3 %), Imanta (- 1,2 %), and Pļavnieki (- 0,8 %).


The most expensive apartments in April remained in the buildings of 119th and 104th series, where the prices for apartments in a satisfactory condition varied from 39 000 to 44 000 EUR, depending on their location. The Lithuanian project houses were the cheapest, where the prices for 2 room apartments varied from 21 000 to 30 000 EUR, as well as the Khrushchev houses, where the price range for 2 room apartments was from 19 000 to 31 000 EUR, depending on the residential area.


An opposite tendency is observed in such Rīga neighbourhood towns as Ogre, Jelgava, Salaspils, and Jūrmala residential district Kauguri, where the serial apartment prices in April decreased within the borders from 0,5 – 1,5 %.


In comparison with the beginning of 2014, the serial apartment prices in Rīga residential areas were per 4,6 % higher in April 2015, as indicated in ARCO REAL ESTATE market overview, whereas the Member of the Board Māris Laukalējs predicts a reasonable price level increase also in the next months.


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