Analytics, Latvia, Real Estate

The average price of a one-room apartment neared EUR 800 per square meter, while in Imanta and Purvciems suburbs with more expensive apartments, the average price of some standard-design apartments even reached EUR 1,000 per square meter.

In March the average apartment price rose to EUR 726 per square meter. The prices were by 55.2% lower than on July 1, 2007, when the price of an unrepaired apartment had reached the highest level – at EUR 1,620 per square meter.

Arco Real Estate said that there are no grounds to think that apartment price growth will stop in the nearest month, on the contrary, there will be a moderate growth.

Jugla suburb showed the biggest price growth in the first quarter of this year – or by 5%. Price growth in Ilguciems was 4.7%. The slowest growth was recorded in Teika – just 0.4%.

The highest apartment prices were recorded in the suburb of Teika where the average price of a square meter rose to EUR 867, while the cheapest apartments could be bought in Bolderaja where the average price of standard-design apartments was EUR 506.