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In January 2019, there were minimal fluctuations in standard-type apartment prices in the housing estates of Riga. The average price of standard-type apartments in January was 797 EUR / m². Since early 2018, standard-type apartment prices have generally increased by 4%.
In January 2019, the average price of standard-type apartments increased slightly in some housing estates, but this did not cause an increase of the average price of standard-type apartments. In January, the average price of apartments in Iļģuciems even decreased slightly.
On the other hand, apartment prices in the vicinity of Riga continued to increase - in January, the most rapid increase was observed in Jūrmala, Kauguri (+ 1%). In Ogre and Salaspils, the prices of standard-type apartments also increased slightly - by 0.2 - 0.3%.
In the housing estates of Riga, the supply of apartments at the beginning of 2019 was by 11% lower than at the beginning of 2018. Like other years, the supply was low at the beginning of the year and then tended to increase.
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 Āgenskalns (+ 5.35 %). Also in other major housing estates of Riga the prices increased since the beginning of the previous year. The slowest apartment price growth was observed in Imanta (+ 2 %).
In January 2019, the average price of standard-type apartments remained to be at the same position – 797 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 January 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 2%. Compared to January 2018, the apartment supply was lesser: the total number of apartments offered for sale was by 18 % 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 for sale in the most of Riga's housing estates decreased. The number of supply of apartments in Bolderāja dropped the most (-19%). By contrast, the supply of apartments has increased most in Zolitūde (+ 12 %).
When analyzing the number of apartments offered for sale in January 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 Ziepniekkalns.
18.02.2019.