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Standart type apartment market overview | FEBRUARY

  • In February 2018, the prices of standard-type apartments located in Riga housing estates increased by 0.5 %. The average standard-type apartment price in January increased to 780 EUR/m². Since the beginning of 2018, the standard-type apartment prices have grown by 1.7 % in total.


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 Bolderāja (+ 2.2 %). 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 (+ 0.2 %).

 

In February 2018, the average price of a standard-type apartment increased to position of 780 EUR/m². The prices on average are by 51.8 % 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 February 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 (+0.2%), two-room apartments (+0.4 %), three-room apartments (+0.6 %) and four-room apartments (+ 0.9 %).

 

In February 2018, supply of apartments in Riga compared to the previous month in total decreased by 2 %. But the number of apartments offered for sale in the largest housing estates analyzed by ARCO REAL ESTATE in February increased - this time by 4 %. Compared to February 2017, the apartment supply was larger: the total number of apartments offered for sale was by 2 % higher, but the number of apartments offered for sale in the largest housing estates was by 15 % higher.

 

During the last month, the number of apartments offered for sale increased in certain Riga housing estates. The most significant increase of the supply of apartments in February was seen in Iļģuciems (+25 %) but the most significant decrease of the supply was seen in Bolderāja (- 22 %).

 

The highest standard-type apartment prices in February 2018 still were in Teika, where the average price of 1m² increased to 924 EUR/m². The lowest average price of 1 m² remained to be in Bolderāja where it increased to the position of 561 EUR/m².


12.03.2018.

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