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In September 2018, the standard-type apartment prices in Riga housing estates remained stable. The average price of standard-type apartments in September remained at 794 EUR / m². Since the beginning of 2018, the standard-type apartment prices have generally increased by 3.5%.
In September 2018, the average price of standard-type apartments, as in June, remained unchanged. In most of Riga's housing estates, no price changes were observed. In contrast, in the two housing districts - Pļavnieki and Ziepniekkalns - slight negative fluctuations have been observed. Similarly to other years in September, there was relatively little activity in the housing market, and no significant fluctuations in prices were observed.
Also, an increase in apartment prices in the vicinity of Riga was observed only in Salaspils, while the prices in Jelgava, Ogre and Jurmala, Kauguri remained unchanged.
The apartment supply in Riga housing estates was still higher than in the last year. In September, the supply level remained unchanged.
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 %). 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 September, the average price of a standard-type apartment remained at the level of 794 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 September 2018, the overall supply of apartments in Riga compared to the previous month decreased by 2%. But the number of apartments offered for sale in the largest housing estates analyzed by ARCO REAL ESTATE remained unchanged. Compared to September 2017, the apartment supply was higher: the total number of apartments offered for sale was by 2 % lower, but the number of apartments offered for sale in the largest housing estates was by 4% higher.
Having summarized the number of apartments offered in the housing estates of Riga, it can be concluded that the largest supply of apartments in September was in Purvciems, but the lowest apartment supply was in Bolderāja.
10.10.2018.