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Standart type apartment market overview | JANUARY

  • In January 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 0.2 %. The average price of standard-type apartments dropped to 914 EUR/m². However, compared to the beginning of 2022, apartment prices were 1.3 % higher in January.


In January, mostly negative price fluctuations were observed in the largest housing estates of Riga. In the last two months, the price reduction was very small. In many housing estates of Riga, there were no changes in apartment prices in January. Meanwhile, a slight increase in apartment prices has been detected in some housing estates.

 

For the most part, prices for apartments in the largest housing estates of Riga were still higher than at the beginning of 2022. The biggest price increase since the beginning of last year in the housing estates of Riga was observed in Teika (+ 6 %). Compared to the beginning of 2022, prices decreased in several housing estates, such as Ķengarags, Imanta, Purvciems and Pļavnieki.

 

Compared to the previous month, in January, the supply of apartments in Riga increased by 26 %. The number of apartments offered for sale in the largest housing estates of Riga analyzed by ARCO REAL ESTATE also increased by 26 %. Compared to January 2022, the supply of apartments was generally higher: the total number of apartments offered for sale was higher by 45 %, while the number of apartments offered for sale in the largest micro-districts was 67 % 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 January 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 (+ 69 %). The number of apartments offered for sale in January remained stable in Imanta.


14.02.2023.

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