In August 2019, the prices of standard-type apartments in Riga housing estates did not change - no changes were observed during the month. The average price of a standard type apartment in August remained to be 818 EUR/m². Since early 2019, standard-type apartment prices have generally increased by 2.6 %.
In August 2019, the rise in the prices of standard-type apartments stopped. Only two major housing estates - Purvciems and Pļavnieki - showed slight changes during the month, where prices increased slightly. No price fluctuations were observed in the other major housing estates of Riga.
But in the vicinity of Riga, apartment prices continued to rise. The highest price increase in August was in Salaspils - 0.8 %.
In the first half of 2019 the supply of apartments in Riga housing estates both increased and decreased. In the second half of the year, for two months in a row, the supply of apartments tended to increase. However, the supply was still lower (-8 %) than a year ago - in August 2018.
The largest increase in the average price per square meter in Riga housing estates since the beginning of 2019 has been observed in Āgenskalns and Zolitūde (+ 4 %). Prices in other major housing estates of Riga have also increased since the beginning of the year. The smallest change in the first half of the year occurred in Teika, where prices increased by only 1 % since the beginning of the year.
In August 2019, the total supply of apartments in Riga increased by 4% compared to the previous month. The number of apartments offered for sale in the largest housing estates analyzed by ARCO REAL ESTATE increased by 2 %. Compared to August 2018, the apartment supply was lower: 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 8 % 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 August was in Purvciems, while the lowest apartment supply was in Bolderāja.
Last month, the number of apartments offered for sale increased in most of Riga housing estates. The supply increased the most in Jugla (+ 14 %), while the supply of apartments decreased the most in Bolderāja (- 21 %).