Standart type apartment market overview | OCTOBER

  • In October 2017, the prices of standard-type apartments located in Riga housing estates increased by 0.5 %. The average standard-type apartment price in October has increased to 761 EUR/m². In whole, since the beginning of 2017, the prices of standard-type apartments have grown by 7.9 %.

In October, apartment prices in Riga's largest housing estates increased again and the price growth increased in comparison with the previous two months. The largest price growth was registered in the housing estates located on the left bank of the Daugava river. It was observed that in October, prices in Zolitūde, Imanta and Āgenskalns were almost equally high and that the average price per square metre of apartments was in the range from 817 to 819 EUR/m².


In October, the supply of apartments in general increased slightly, i.e., by 1.5%, while the supply in the central part of Riga was reduced by 7%. In Riga's largest housing estates, the number of apartments offered for sale continued to increase.


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 (+ 12.2 %). Also in other major 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 (+ 3.7 %).


When analyzing the number of apartments offered for sale in proportion to the size of the housing estates, i.e., in proportion to the population, the highest number in October was still recorded in Āgenskalns, while in Bolderāja it was proportionally the lowest.


In October 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 49 000 EUR, depending on the location. In turn, the so-called Lithuanian design were 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.


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