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In April 2019, the price of standard-type apartments in the housing estates of Riga increased by 0.7 %. The average price of standard-type apartments in April increased to 808 EUR/m². Since early 2019, standard-type apartment prices have generally increased by 1.4 %.
In April 2019, the average price of standard-type apartments increased in most housing estates. The average price per square meter of standard-type apartments continued to rise and the price growth increased. The most rapid increase in prices in 2019 occurred just in April. During the previous month, prices for large apartments increased the most. Within a month, the price of three and four-room apartments increased by 1 %.
In the vicinity of Riga, prices for apartments also continued to rise - most of all, the prices in April rose in Jūrmala, Kauguri where the prices rose by 2 %.
The supply of apartments in the Riga housing estates at the beginning of 2019 showed trends similar to 2018, however, in April there was a rapid decline. The supply was still much lower (-16 %) than a year ago, in April 2018.
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 Āgenskalns (+ 2.6 %). Prices in other major housing estates in Riga have also increased since the beginning of the year. The smallest changes in the first four months of the year were observed in Ķengarags – the prices have increased by only 0.1 % since the beginning of the year.
In April 2019, the total supply of apartments in Riga decreased by 4 % compared to the previous month. But the number of apartments offered for sale in the largest housing estates analyzed by ARCO REAL ESTATE decreased by 5%. Compared to April 2018, the apartment supply was lesser: the total number of apartments offered for sale was by 19 % lower, but the number of apartments offered for sale in the largest housing estates was by 16 % lower.
Last month, the number of apartments offered for sale in the most of Riga's housing estates decreased. The number of supply of apartments in Iļģuciems decreased the most (- 13 %). By contrast, the supply of apartments has increased most in Pļavnieki (+ 2 %).
When analyzing the number of apartments offered for sale in April 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 Teika and Bolderāja.
15.05.2019.