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In February 2019, there were minimal fluctuations in standard-type apartment prices in the housing estates of Riga. The average price of standard-type apartments in February increased to 799 EUR / m². Since early 2019, standard-type apartment prices have generally increased by 0.2%.
In February 2019, the average price of standard-type apartments increased slightly in most housing estates. At the end of February, the average price per m2 of standard-type apartments approached the mark of 800 EUR/m².
On the other hand, housing prices continued to grow in the vicinity of Riga, where the growth was more rapid than in Riga - in February 2019, the fastest rise was in Ogre (+ 1 %).
There were similar trends in housing estates in Riga at the beginning of 2019 as in 2018 - the number of offers increased moderately in February. However, it was still significantly lower (-12%) than in February last year.
The largest increase in the average price of one square meter of apartments in Riga housing estates since the beginning of 2019 was observed in Imanta (+ 0.7%). Prices in other major housing estates in Riga have also increased since the beginning of the year. However, in several housing estates, no price fluctuations have been observed in the last two months.
In February 2019, the average price of standard-type apartments increased slightly – to 799 EUR/m². The prices on average are by 51 % 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 2019, the price of all apartments increased slightly, according to the number of rooms. The average price per square meter of standard-type apartments increased for one-room (+ 0.1 %), two-room (+ 0.1 %), three-room (+ 0.3 %) and four-room (+ 0.3 %) apartments.
In February 2019, the total supply of apartments in Riga increased by 3 % compared to the previous month. But the number of apartments offered for sale in the largest housing estates analyzed by ARCO REAL ESTATE increased by 2 %. Compared to February 2018, the apartment supply was lesser: the total number of apartments offered for sale was by 14 % lower, but the number of apartments offered for sale in the largest housing estates was by 12 % 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 February was in Purvciems, while the lowest apartment supply was in Bolderāja.
07.03.2019.