Standart type apartment market overview | APRIL

  • In April 2021, the prices of standard-type apartments in Riga's housing estates increased slightly - they increased by 0.4 % during the month. The average price of standard-type apartments rose to 820 EUR/ m². In 2021, the prices of standard-type apartments have increased by 1.6 % in overall.


In April 2021, an increase in the prices of standard-type apartments was observed in all the largest housing estates of Riga. The rise in prices was due to insufficient supply, which is typical at the end of the year. Apartment prices also tended to increase in the vicinity of Riga - prices increased the most in Jelgava.

 

Since the beginning of 2021, in all major housing estates of Riga prices of apartments have generally increased. The largest price increase since the beginning of the year has been observed in Bolderāja (+ 2.6 %).

 

In April 2021, the average price of standard-type apartments increased to 820 EUR/m². The prices on average were by 49 % 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 April, the supply of apartments in Riga decreased by 14% compared to the previous month. The number of apartments offered for sale in the largest housing estates of Riga analysed by ARCO REAL ESTATE decreased by 2 %. Compared to April 2020, the supply of apartments was generally slightly higher: the total number of apartments offered for sale was 1 % higher than a year ago, but the supply of apartments in the largest housing estates was 20 % lower than a year ago.

 

Last month, the supply of apartments in the largest housing estates of Riga mostly decreased. The supply decreased the most in Imanta - by 18 %. The supply increased the most during the month in Bolderāja (+ 29 %).


13.05.2021.

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