ARCO REAL ESTATE

• In April 2018, the prices of standard-type apartments located in Riga housing estates increased by 0.7 %. The average standard-type apartment price in April increased to 790 EUR/m². Since the beginning of 2018, the standard-type apartment prices have grown by 2.9% in total.

In the first quarter of 2018, prices rose moderately, while in April the price growth rate tended to increase. In April, price growth exceeded 1% in several major housing estates in Riga. At the same time, in the two most expensive housing estates in Riga - Imanta and Zolitūde - no changes in prices have been observed for the second consecutive month.

This year, the supply in the largest housing estates in Riga was steadily higher than in the beginning of the last year, and there was a growing trend.

The largest growth of the average 1 m² price of an apartment in the housing estates of Riga since the beginning of 2018 was observed in Teika (+ 4.4 %). Also in other biggest housing estates of Riga the prices increased this year. The slowest apartment price growth since the beginning of this year was observed in Jugla (+ 1.5 %).

In April 2018, the average price of a standard-type apartment increased to position of 790 EUR/m². The prices on average are by 51.3 % 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 April 2018, the prices rated by number of rooms in apartment, increased for 1 – 4-room apartments. The average price of one square meter of standard type apartment increased for one-room apartments (+0.7%), two-room apartments (+0.9 %), three-room apartments (+0.4 %) and four-room apartments (+ 0.8 %).

In April 2018, supply of apartments in Riga compared to the previous month in total increased by 1 %. But the number of apartments offered for sale in the largest housing estates analyzed by ARCO REAL ESTATE in April increased even more - by 2 %. Compared to April 2017, the apartment supply was larger: the total number of apartments offered for sale was by 5 % higher, but the number of apartments offered for sale in the largest housing estates was by 14 % higher.

During the last month, the number of apartments offered for sale increased in almost all Riga housing estates. The most significant increase in the supply of apartments in April was seen in Ķengarags (+22 %) while a decrease in the supply was seen in Jugla (- 21 %).

16.05.2018.