-
In December 2018, the price of standard-type apartments in Riga housing estates increased slightly, with the average price rising to 797 EUR per square metre. Since early 2018, standard-type apartment prices have generally increased by 3.9 %.
Although in December 2018 the average price of standard-type apartments increased slightly, the price increase was still small compared to the beginning of the year. As expected, the total price increase in Riga housing estates in 2018 did not exceed 4%.
On the other hand, a more substantial rise in apartment prices was observed in the vicinity of Riga: in 2018 the most rapid rise in prices was observed in Ogre (+ 9%), also in Salaspils and Kauguri, Jurmala, the price increase of standard-type apartments during the year was relatively high (+ 7%).
In the first three quarters of the year, the supply of apartments in Riga housing estates was higher than in 2017. However, in October the volume of supply fell sharply, falling to the level of the previous year in the last quarter of the year. Similarly to other years, the supply at the end of the year tended to decline rapidly.
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 (+ 5.3 %). Also in other major housing estates of Riga the prices increased this year. The slowest apartment price growth since the beginning of this year was observed in Imanta (+ 2 %).
In December 2018, the overall supply of apartments in Riga compared to the previous month decreased by 6%. But the number of apartments offered for sale in the largest housing estates analyzed by ARCO REAL ESTATE decreased by 8%. Compared to December 2017, the apartment supply was significantly different: the total number of apartments offered for sale was by 11 % lower, but the number of apartments offered for sale in the largest housing estates was by 6% lower.
Having summarized the number of apartments offered in the housing estates of Riga, it can be concluded that the largest supply of apartments in December was in Purvciems, while the lowest apartment supply was in Bolderāja.
07.01.2019.