Standart type apartment market overview | OCTOBER

  • In October 2021, the prices of standard-type apartments in Riga's housing estates increased - they increased by 0.3 % during the month. The average price of standard-type apartments rose to 890 EUR/m². In 2021, the prices of standard-type apartments have increased by 10.2 %.


In all major housing estates of Riga, the prices of standard-type apartments continued to increase in October. However, in October the rise in prices was no longer as pronounced as in previous months. No price fluctuations were found in some housing estates. In the vicinity of Riga, the increase in apartment prices also decreased and the increase in prices generally did not exceed 1 %.

 

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 (+ 14 %).

 

In October, the average price of standard-type apartments increased to 890 EUR/m². The prices on average were by 45 % 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 October, the supply of apartments in Riga decreased by 6 % 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 7 %. Compared to October 2020, the supply of apartments was generally lower: the total number of apartments offered for sale was 21 % lower than a year ago, but the supply of apartments in the largest housing estates was 24 % lower than a year ago.

 

Last month, the number of apartments offered for sale in the largest housing estates of Riga mostly decreased. The number of apartments offered for sale decreased the most in Bolderāja – by 43 %, while it increased the most in Teika (+ 22 %).

 


04.11.2021.

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