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In September 2019, the prices of standard-type apartments in Riga housing estates did not change - the average price of a standard type apartment remained to be unchanged (818 EUR/m²). Since early 2019, standard-type apartment prices have generally increased by 2.7 %.
In September 2019, the average price of a standard-type apartment remained unchanged for the second consecutive month. A similar situation was observed last autumn. At the same time, negative price changes could be observed in two housing estates in September - prices decreased by 0.2 % in Āgenskalns and by 0.4 % in Iļģuciems. However, as prices are rising slightly in several other housing estates, it is too early to talk about a price decline. Rather, in recent months, the prices of standard-type apartments have stabilized. Still, no price fluctuations were observed in the majority of Riga housing estates.
In the first half of 2019 the supply of apartments in Riga housing estates both increased and decreased. The supply of apartments tended to increase in July and August, but stabilized in September. Supply was still lower (-8 %) than a year ago - in September 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 three quarters of the year occurred in Teika, where prices increased by only 1 % since the beginning of the year.
In September 2019, the total supply of apartments in Riga increased by 1 % compared to the previous month. The number of apartments offered for sale in the largest housing estates analyzed by ARCO REAL ESTATE remained unchanged. Compared to September 2018, the apartment supply was lower: the total number of apartments offered for sale was by 11 % lower, but the number of apartments offered for sale in the largest housing estates was by 8 % lower.
Last month, the number of apartments offered in most housing estates in Riga decreased. The number of offers decreased the most in Imanta (-9 %). In contrast, the supply of apartments increased most in Purvciems (+9 %).
In September, when analyzing the supply in proportion to the size of the housing estate, namely, by population, the largest supply was found in Purvciems. In Bolderāja, by contrast, the supply was proportionally the lowest.
15.10.2019.