Standart type apartment market overview | APRIL

  • In April 2022, the prices of standard-type apartments in Riga's housing estates increased by 1.4 % over the month. The average price of standard-type apartments rose to 967 EUR/m². In the first four months of 2022, the prices of standard-type apartments increased by 7 %.


In April 2022, the prices of standard-type apartments in the largest housing estates of Riga continued to increase. In the first quarter of the year, apartment prices increased by about 2 % per month, but in April the growth rate decreased slightly.

 

Since the beginning of 2022, apartment prices have increased in all major housing estates of Riga. The largest price increase since the beginning of the year has been observed in Vecmīlgrāvis (+ 12 %).

 

In April, the supply of apartments in Riga as a whole decreased by 4 % 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 1 %. Compared to April 2021, the supply of apartments was generally lower: the total number of apartments offered for sale was 1 % lower, while the supply of apartments in the largest housing estates was 14% higher 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 April was in Purvciems, while the lowest - in Bolderāja.

 

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 (- 21 %). Meanwhile, the number of apartments offered for sale increased the most in Jugla during the month (+ 20 %).

 

The highest prices of standard-type apartments in April remained in Teika, where the price per square meter increased to 1 118 EUR/m². The lowest average price per square meter in April was in Bolderāja – 740 EUR/m², which also increased over the month.

 


11.05.2022.

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