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In November 2019, the prices of standard-type apartments in Riga housing estates increased slightly: the average price per square meter increased by 0.1 %, reaching an average price of 819 EUR/m² in November. Since early 2019, standard-type apartment prices have generally increased by 2.7 %.
For the fourth consecutive month, the price of standard-type apartments remained stable - no significant changes were observed. In most housing estates of Riga, price fluctuations were not observed at all. In some housing estates, prices rose slightly in the last month, while in two housing estates - Vecmīlgrāvis and Ķengarags - apartment prices tended to decline.
In the second half of 2019, the apartment market in Riga housing estates saw both an increase and decrease in the supply. Similarly to last year, the supply tended to decrease in the last quarter of the year; however at the end of November this year it was 1 % higher than a year ago, i.e., in November 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 this year occurred in Teika and Imanta, where prices increased by only 1 % since the beginning of the year.
In November 2019, the average price of a standard-type apartment increased slightly to 819 EUR/m². The prices on average were by 50 % 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.
Last month, the number of apartments offered in most housing estates in Riga decreased. The number of offers decreased the most in Teika (-18 %). In contrast, the supply of apartments increased most in Iļģuciems (+ 19 %).
In November, when analyzing the supply in proportion to the size of the housing estate, namely, by population, the largest supply was found in Āgenskalns. In Bolderāja, by contrast, the supply was proportionally the lowest.
13.12.2019.