-
In June 2024, no changes were found in the prices of standard-type apartments in Riga housing estates - during the month, the average price of standard-type apartments remained unchanged. The average price of standard-type apartments in June was 849 EUR/m². Compared to the beginning of 2024, the prices of serial apartments are generally similar.
In June 2024, apartment prices are considered stable. Only small price fluctuations have been detected in the largest housing estates of Riga. In several of the most expensive housing estates of Riga, offers of cheap apartments, which were observed in previous months, have disappeared. Also in the vicinity of Riga, the standard-type apartment market can be assessed as stable - no significant price changes have been observed.
The number of apartments offered for sale in Riga's largest housing estates remained almost unchanged in June. The supply of standard-type apartments was only 4 % higher than a year ago.
Since the beginning of 2024, the prices of apartments in the largest housing estates of Riga both decreased and increased. However, price changes in the first half of the year were small and did not exceed 2 %. The biggest price decrease since the beginning of the year in Riga’s housing estates was observed in Vecmīlgrāvis (-1.8 %). On the other hand, the biggest price increase (+1.1 %) was found in Zolitūde this year. No price changes have been detected in Ziepniekkalns since the beginning of the year.
In June, the average price of standard-type apartments remained at 849 EUR /m². Prices were on average 48 % lower than on July 1, 2007, when the average price of a non-renovated standard-type apartment reached the highest ever value – 1 620 EUR/m².
In June, the changes in apartment prices were insignificant. The average price per square meter of standard-type apartments slightly decreased for two-room apartments (-0.1 %). In contrast, the average price per square meter of three- and four-room apartments increased slightly (+0.1 %) in June, while the price of one-room apartments did not change.
Compared to the previous month, the supply of apartments in Riga decreased by 1 % in June. The number of apartments offered for sale in the largest housing estates of Riga analysed by "ARCO REAL ESTATE" increased by 0.3 %. Compared to June 2023, the number of apartments offered for sale was generally higher: the total number of apartments offered for sale was 9 % higher, while the number of apartments offered for sale in the largest housing estates was 4 % higher than a year ago.
Summarizing the number of apartments offered for sale in Riga housing estates, it can be concluded that the largest supply in June was in Purvciems, while the smallest was in Bolderāja.
Last month, the number of apartments offered for sale in Riga's largest housing estates increased by more than half. The number of apartments offered for sale increased the most in Teika (+6 %). At the same time, the supply of apartments in Jugla decreased quite significantly in June - by 14 %.
When analysing the supply of apartments in proportion to the size of the housing estate, i. e., by population, the largest supply in June was found in Āgenskalns. On the other hand, the number of apartments offered for sale was proportionally the lowest in Vecmīlgrāvis.
In June, minimal changes were found in the prices of standard-type apartments in Riga housing estates. Both positive and negative price fluctuations were observed in the largest housing estates of Riga. The most significant price increase was observed in Mežciems, where prices increased by 0.2 % during the month. On the other hand, in June, apartment prices decreased minimally only in Teika and Ķengarags - by 0.1 %. In almost half of the largest housing estates of Riga, no price changes were observed in June.
Compared to the beginning of 2024, standard-type apartment prices remained similar in June. On the other hand, compared to the beginning of 2023, prices are 7 % lower.
The highest prices of standard-type apartments remained in Teika in June, where the average price of one square meter fell to 1,071 EUR/m². The lowest average price per square meter in June was in Bolderāja – 644 EUR/m², which remained unchanged in June.
In June, the most expensive apartments still were apartments in the houses of the series 119 and 104, where the price of 2-room apartments in a satisfactory condition varied from 51 000 to 55 000 EUR depending on the location. In turn, the so-called Lithuanian design houses were the cheapest ones, where the price of 2-room apartments varied from 29 000 to 41 000 EUR, and the so-called Khrushchev-time houses, where the price of a 2-room apartment varied from 27 000 to 44 000 EUR depending on the housing estate.
Apartment market in the vicinity of Riga
Ogre
In June, the prices of standard-type apartments in Ogre remained unchanged. The average price of standard-type apartments in June – 836 EUR/m². Compared to the beginning of 2024, apartment prices in Ogre increased by 0.2 % in June.
Kauguri, Jūrmala
In Kauguri, standard-type apartment prices remained unchanged in June. The average price of standard-type apartments is 774 EUR/m². Compared to the beginning of 2024, apartment prices in Kauguri are higher by 2 %.
Salaspils
In June, standard-type apartment prices in Salaspils decreased by 0.7 %. The average price per square meter of apartments fell to 835 EUR/m². In June, standard-type apartment prices in Salaspils were 1% lower than at the beginning of the year.
Jelgava
In Jelgava, apartment prices increased by 0.2 % in June. The average price of standard-type apartments rose to 726 EUR/m² in June. Compared to the beginning of 2024, the prices of standard-type apartments in Jelgava were 2 % higher in June.
15.07.2024.