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In February 2023, 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 0.3 %. The average price of standard-type apartments dropped to 911 EUR/m². In the first two months of 2023, apartment prices overall decreased by 0.5 %.
Negative price fluctuations were mainly observed in the largest housing estates of Riga in February. Standard-type apartment prices decreased for the eighth month in a row. However, it was possible to observe that in many housing estates of Riga there were no more cheap apartments on offer in February. Both positive and negative price changes could be observed in the surroundings of Riga in February.
In February, changes were found in apartment prices. The average price per square meter of standard-type apartments decreased for one-room (-0.6 %), three-room (-0.2 %) and four-room (0.3 %) apartments. Only the average price of two-room apartments remained stable.
Compared to the previous month, in February, the supply of apartments in Riga decreased by 1 %. The number of apartments offered for sale in the largest housing estates of Riga analyzed by ARCO REAL ESTATE also decreased by 1 %. Compared to January 2022, the supply of apartments was generally higher: the total number of apartments offered for sale was higher by 32 %, while the number of apartments offered for sale in the largest micro-districts was 46 % 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 February was in Purvciems, while the lowest - in Bolderāja.
Last month, the number of apartments offered for sale increased in many housing estates of Riga. The number of apartments offered for sale increased the most in Imanta (+ 16 %). The number of apartments offered for sale also decreased in many places in February - the biggest decrease in number of apartments offered for sale was found in Ziepniekalns (- 20 %).
15.03.2023.