Standart type apartment market overview | NOVEMBER

  • In November 2021, the prices of standard-type apartments in Riga's housing estates increased - they increased by 0.7 % during the month. The average price of standard-type apartments rose to 896 EUR/m². In 2021, the prices of standard-type apartments have increased by 11 %.


In all major housing estates of Riga, the prices of standard-type apartments continued to increase in November. However, in November the rise in prices was no longer as pronounced as in the summer months. In terms of prices, no price fluctuations were found in the cheapest housing estates. Although the price increase was significant this year, apartment prices in the vicinity of Riga continued to rise in November.

 

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 and Bolderāja (+ 14 %).

 

In November, changes in apartment prices were observed. The average price per square meter of standard-type apartments increased for one-room (+ 0,9 %), two-room (+ 0,7 %), three-room (+ 0,7 %) and four-room (+ 0,6 %) apartments.

 

In November, the supply of apartments in Riga increased by 3 % 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 5 %. Compared to November 2020, the supply of apartments was generally lower: the total number of apartments offered for sale was 12 % lower than a year ago, but the supply of apartments in the largest housing estates was 15 % lower than a year ago.

 

Having summarized the number of apartments offered for sale in the housing estates of Riga, it can be concluded that the largest supply of apartments in November was in Purvciems, while the lowest - in Bolderāja.

 


03.12.2021.

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