Standart type apartment market overview | SEPTEMBER

  • In September 2017, the prices of standard-type apartments located in Riga housing estates increased by 0.1 %. The average standard-type apartment price in September has increased to 757 EUR/m². In whole, since the beginning of 2017, the prices of standard-type apartments have grown by 7.4 %.


In Riga's largest housing estates, apartment prices remained practically unchanged in September - only in some housing estates there was a slight increase in prices. Overall, the monthly price increase was the lowest in the last two years. At the same time, slight changes in prices have been observed in September in the previous years. In 2017, the greatest price increase was observed in housing estates with relatively cheap apartments, such as Bolderāja, Vecmīlgrāvis and Ķengarags.

 

In September, the supply of apartments in general increased slightly, with the largest increase in the central part of Riga, while the supply in Riga housing estates increased by 4%.

 

The largest growth of the average 1 m² price of an apartment in the housing estates of Riga since the beginning of 2017 was observed in Bolderāja (+ 11.4 %). Also in other biggest housing estates of Riga the prices tended to increase this year. The slowest apartment price growth since the beginning of the year was observed in Teika (+ 3.6 %).

 

In September 2017, the average price of a standard-type apartment increased to the position of 757 EUR/m². The prices on average were by 53.3 % lower than on July 1, 2007, when the average price of a non-renovated standard-type apartment reached the highest ever value – 1 620 EUR/m².

 

In September 2017, the prices rated by number of rooms in apartment grow for 1-4- room apartments. The average price of 1 sq.m. of area increased for one-room (+ 0.1 %), two-room (+ 0.1 %), three-room (+ 0.1 %) and four-room (+ 0.1 %) standard-type apartments.

 

In September 2017, the most expensive apartments as usual were apartments in the houses of the 119th series and 104th series, where the price of 2-room apartments in satisfactory condition varied from 45 000 to 48 000 EUR, depending on the location. In turn, the so-called Lithuanian design houses have been the cheapest ones, where the price of 2-room apartments varied from 25 000 to 39 000 EUR, and the so-called Khrushchev-time houses, where the price of 2-room apartments varied from 24 000 to 38 000 EUR, depending on the housing estate.


11.10.2017.

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