Standart type apartment market overview | SEPTEMBER

  • In September 2021, the prices of standard-type apartments in Riga's housing estates increased - they increased by 1.1 % during the month. The average price of standard-type apartments rose to 887 EUR/m². In 2021, the prices of standard-type apartments increased by 9.9 %.


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 (+ 13 %).

 

In September 2021, the average price of standard-type apartments increased to 887 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 September, changes in apartment prices were observed. The average price per square meter of standard-type apartments increased for one-room (+ 0.9 %), two-room (+ 1.1 %), three-room (+ 1.4 %) and four-room (+ 0.8 %) apartments.

 

In September, the supply of apartments in Riga decreased by 5 % 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 4 %. Compared to September 2020, the supply of apartments was generally lower: the total number of apartments offered for sale was 17 %, lower than a year ago, but the supply of apartments in the largest housing estates was 20 % 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 September was in Purvciems, while the lowest - in Bolderāja.


08.10.2021.

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