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Standart type apartment market overview | SEPTEMBER

  • In September 2022, there were significant changes in the prices of standard-type apartments in the housing estates of Riga - during the month, the average price of standard-type apartments decreased by 2 %. The average price of standard-type apartments dropped to 946 EUR/m². However, compared to the beginning of 2022, apartment prices were 5 % higher in September.


Negative price fluctuations were observed in the largest housing estates of Riga in the 3rd quarter of 2022. In September, the price drop was even faster than in the previous months. Apartment prices in several housing estates decreased by 3 % during the month. Also in the surroundings of Riga, the price level of standard-type apartments continued to decrease.

 

Since the beginning of 2022, the prices of apartments in all major housing estates of Riga have increased. The biggest price increase since the beginning of the year in Riga housing estates was observed in Bolderāja (+ 13 %).

 

Compared to the previous month, the supply of apartments in Riga increased by 5 % in September. The number of apartments offered for sale in the largest housing estates analyzed by ARCO REAL ESTATE increased by 7 %. Compared to September 2021, the supply of apartments was generally higher: the total number of apartments offered for sale was higher by 62 %, while the supply of apartments in the largest housing estates was 88 % 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 September was in Purvciems, while the lowest - in Bolderāja.

 

Last month, the number of apartments offered for sale increased in almost all major housing estates of Riga. The number of apartments offered for sale increased the most in Āgenskalns (+ 20 %). The number of apartments offered for sale decreased only in Teika (- 13 %).

 

Compared to the beginning of 2021, in September 2022 the prices of standard-type apartments were higher by 17 %. But since the beginning of 2022, prices have risen by 5 %.


06.10.2022.

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