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In December 2022, changes were detected in the prices of standard-type apartments in Riga housing estates - during the month, the average price of standard-type apartments decreased by 0.2 %. The average price of standard-type apartments dropped to 916 EUR/m². However, compared to the beginning of 2022, apartment prices were 1.6 % higher in December.
Negative price fluctuations were observed in Riga's largest housing estates in December. In December, the price drop was very small. In many housing estates of Riga, there were no changes in apartment prices in December. Also in the vicinity of Riga, only small fluctuations have been detected in the prices of standard-type apartments.
Until September, the number of apartments offered for sale in the largest housing estates of Riga increased rapidly, however, in the last quarter of the year, there was a downward trend. As is typical of the end of the year, the number of apartments offered for sale fell sharply in December, falling below the 1,300 mark. However, the level of supply in the largest housing estates of Riga was still much higher than a year ago (+56 %).
Compared to the previous month, the supply of apartments in Riga decreased by 25 % in December. The number of apartments offered for sale in the largest housing estates of Riga analyzed by ARCO REAL ESTATE decreased by 28 %. Compared to December 2021, the supply of apartments was generally higher: the total number of apartment offers was higher by 36 %, while the supply of apartments in the largest housing estates was 56 % 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 December was in Purvciems, while the lowest - in Bolderāja.
Last month, the number of apartments offered for sale decreased in all major housing estates of Riga. The number of apartments offered for sale decreased the most in Jugla and Pļavnieki (- 39 %). The number of offers in December changed the least in Teika and Bolderāja (-15 %).
18.01.2023.