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In March 2022, the prices of standard-type apartments in Riga's housing estates increased - they increased by 1.8 % during the month. The average price of standard-type apartments rose to 953 EUR/m². In 2022, the prices of standard-type apartments have increased by 6 % in total.
In the first quarter of 2022, the supply of apartments in the largest housing estates increased rapidly, and was significantly higher than a year ago, when it was below 1,000 units.
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 (+ 8.3 %).
In March, the supply of apartments in Riga increased by 6 % compared to the previous month. The apartments offered for sale in the largest housing estates of Riga analysed by ARCO REAL ESTATE increased by 5 %. Compared to March 2021, the supply of apartments was generally lower: the total number of apartments offered for sale was 9 % lower, while the supply of apartments in the largest housing estates was 13 % higher than a year ago.
Last month, the number of apartments offered for sale in the largest housing estates of Riga mostly increased. The number of apartments offered for sale increased the most in Bolderāja (+ 120 %).
When analysing the supply of apartments in proportion to the size of the housing estate, i.e., by population, the largest supply in March was found in Āgenskalns, while in Zolitūde the supply was proportionally the lowest.
Compared to the beginning of 2021, in March 2022 the prices of standard-type apartments were higher by 18 %. However, since the beginning of 2022, prices have risen by 6 %.
13.04.2022.