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In March 2020, the prices of standard-type apartments in Riga's housing districts decreased slightly, with the average price decreasing by 0.2 % and falling to 820 EUR/m². In the first quarter of 2020, the prices of standard-type apartments increased by 0.2 %.
The prices of standard-type apartments have decreased slightly over the last month. In some of the largest housing districts of Riga, negative price fluctuations were also observed in previous months. In several major neighborhoods of Riga, as well as in the vicinity of Riga, prices remained unchanged.
At the beginning of 2020, the supply of apartments increased sharply, but in March it fell below last year's level.
Since the beginning of 2020, the largest increase in the average price per square meter of apartments in Riga's housing districts has been observed in Jugla (+ 0.9 %). In other major districts of Riga, prices have both increased and decreased since the beginning of the year. The largest price decrease since the beginning of the year in Riga's housing districts was observed in Imanta (- 0.6 %).
Apartment prices, measured by the number of rooms, decreased slightly in March 2020. The average price per square meter of standard-type apartments decreased for one-room (- 0.2 %), two-room (- 0.4 %) and three-room (- 0.3 %) dwellings, while the average price for four-room apartments remained at the previous level.
In March 2020, the supply of apartments in Riga, compared to the previous month, decreased by 5 %. The supply in the largest districts of Riga analyzed by ARCO REAL ESTATE decreased by 6 %. Compared to March 2019, the supply of apartments was generally lower: the total apartment supply was by 8 % lower, and the supply of apartments in the largest housing districts was also by 8 % lower than a year ago.
In March 2020, changes in the prices of standard-type apartments were observed in the largest housing districts of Riga. In most of the districts, prices decreased slightly - the largest price decrease was observed in Imanta, where prices decreased by 0.7 % during the month. However, in several districts no price changes were observed in March.
06.04.2020.