Standart type apartment market overview | JUNE

  • In June 2021, the prices of standard-type apartments in Riga's housing estates increased - they increased by 2 % during the month. The average price of standard-type apartments rose to 851 EUR / m². In 2021, the prices of standard-type apartments have increased by 5.4 %.


In all major housing estates of Riga, in June 2021, an increase in the prices of standard-type apartments was observed. Price increases were the highest both this year and in recent years. The supply of apartments was small in all housing estates of Riga, thus prices tended to increase. Apartment prices also increased in the vicinity of Riga, where they grew even faster than in Riga. In the first half of the year, apartment prices in the vicinity of Riga increased by 9 – 13 %.

 

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 Imanta (+ 7,1 %).

 

In June 2021, the average price of standard-type apartments increased to 851 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.

 

In June, changes in apartment prices were observed. The average price per square meter of standard-type apartments increased for one-room (+ 2.4 %), two-room (+ 1.6 %), three-room (+ 1.8 %) and four-room (+ 2 %) apartments.

 

In June, the supply of apartments in Riga decreased 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 decreased by 5%. Compared to June 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 30 % lower than a year ago.


09.07.2021.

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