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Standart type apartment market overview | JULY

  • In July 2021, the prices of standard-type apartments in Riga's housing estates increased - they increased by 1.2 % during the month. The average price of standard-type apartments rose to 861 EUR / m². In 2021, the prices of standard-type apartments have increased by 6,7 %.


In July 2021, an increase in the prices of standard-type apartments was observed in all major housing estates of Riga. In July, the price increase was no longer as pronounced as in May and June, however, it must be admitted that the rate of price increase in the vicinity of Riga remained high. On the other hand, the supply of apartments was still small both in Riga's housing estates and in the vicinity of Riga.

 

Since the beginning of the year, the supply of apartments in the largest housing estates has increased and slightly exceeded 1,000. However, it was still significantly lower than a year earlier, when similar supply growth trends were observed in July.

 

In July 2021, the average price of standard-type apartments increased to 861 EUR/m². The prices on average were by 47 % 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 July, the supply of apartments in Riga increased by 7 % compared to the previous month. The number of apartments offered for sale in the largest housing estates of Riga analysed by ARCO REAL ESTATE increased by 9 %. Compared to July 2020, the supply of apartments was generally lower: the total number of apartments offered for sale was 18% lower than a year ago, but the supply of apartments in the largest housing estates was 29% lower than a year ago.

 

Compared to the beginning of 2020, in July the prices of standard-type apartments were higher by 5 %. But since the beginning of 2021, prices have increased by 7 %.


03.08.2021.

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