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In October 2018, the standard-type apartment prices in Riga housing estates remained stable. The average price of standard-type apartments in October remained at 794 EUR / m². Since the beginning of 2018, the standard-type apartment prices have generally increased by 3.5%.
In October 2018, the average price of standard-type apartments, as in June and September, remained unchanged. In most of Riga's housing estates, no price changes were observed. In contrast, in the two housing districts - Jugla and Ziepniekkalns - slight negative fluctuations have been observed.
But in the vicinity of Riga, a slight increase in apartment prices was observed in Salaspils, Jelgava, and also in Jūrmala, Kauguri.
Since the beginning of the year, the supply of apartments in Riga housing estates has been higher than last year. However, in October, supply levels decreased sharply and dropped below the level of 2017.
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 (+ 5.1 %). 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 (+ 1.6 %).
In October 2018, the overall supply of apartments in Riga compared to the previous month decreased by 12 %. But the number of apartments offered for sale in the largest housing estates analyzed by ARCO REAL ESTATE decreased by 13 %. Compared to October 2017, the apartment supply was lower: the total number of apartments offered for sale was by 15 % lower, but the number of apartments offered for sale in the largest housing estates was by 11 % lower.
Last month, the number of apartments offered in all major Riga housing estates, except Bolderāja, decreased. In Bolderāja, the supply of apartments increased and returned to the level of August (+ 18 %). By contrast, the largest reduction in supply of apartments was seen in Imanta.
When analyzing the number of apartments offered for sale in October in proportion to the size of the housing estate, i.e., by number of population, the highest number was recorded in Mežciems and Āgenskalns. By contrast, the number of apartments offered for sale was proportionally lowest in Bolderāja.
09.11.2018.