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In March 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 784 EUR/m². Since the beginning of 2018, the standard-type apartment prices have grown by 2.2 % in total.
Though the year 2018 began with a rather rapid increase in standard-type apartment prices, both in February and March, prices rose moderately. In March, in some of the most expensive housing estates in Riga, price changes were not observed at all. However, overall, in the first quarter of the year, prices have risen by more than 2%, and it can be expected that the price increase this year will be similar to the last year. At the beginning of this year, the supply in the Riga's largest housing estates was higher than in the corresponding period of the last year, and, in addition, it has a growing tendency.
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 (+ 3.2 %). 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 (+ 1.3 %).
In March 2018, the average price of a standard-type apartment increased to position of 784 EUR/m². The prices on average are by 51.6 % 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 March 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 (+0.4%), two-room apartments (+0.6 %), three-room apartments (+0.5 %) and four-room apartments (+ 0.4 %).
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 March was seen in Jugla and Āgenskalns (+18 %) but a decrease in the supply was seen only in Ķengarags (- 7 %).
In March 2018, standard-type apartment prices in comparison with the beginning of 2017 were higher by 11.2%. In turn, since the beginning of 2018, prices have increased by 2.2 %.
The highest standard-type apartment prices in March 2018 still were in Teika, where the average price of 1m² increased to 935 EUR/m². The lowest average price of 1 m² remained to be in Bolderāja where it increased to the position of 565 EUR/m².
18.04.2018.