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Standart type apartment market overview | JANUARY

  • In January 2022, 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 920 EUR / m². It should be mentioned that in 2021, the prices of standard-type apartments increased by 12 %.


In January 2022, the prices of standard-type apartments continued to increase in all major housing estates of Riga. Since June last year, the fastest price increase has been observed in January. Prices rose in both the cheapest and most expensive neighborhoods. Due to the insufficient supply of apartments in the vicinity of Riga, prices continued to rise at the beginning of this year. 

 

Since the beginning of 2021, 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 such Riga's housing estates as Ķengarags and Vecmīlgrāvis (+ 17 %).

 

In January 2022, changes in apartment prices were observed. The average price per square meter of standard-type apartments increased for one-room (+ 2.4 %), two-room (+ 2.4 %), three-room (+ 1.6 %) and four-room (+ 1.5 %) apartments.

 

In January, the supply of apartments in Riga increased by 18 % compared to the previous month. The apartments offered for sale in the largest housing estates of Riga analysed by ARCO REAL ESTATE also increased by 18 %. Compared to January 2021, the supply of apartments was generally higher: the total number of offers of apartments offered for sale was higher by 6 %, while the supply of apartments in the largest housing estates was 10 % lower than a year ago.

 

When analysing the supply of apartments in proportion to the size of the housing estate, i.e., by population, the largest supply in January was found in Āgenskalns, while in Bolderāja the supply was proportionally the lowest.


15.02.2022.

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