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International Internet Magazine. Baltic States news & analytics Tuesday, 16.07.2019, 23:51

Apartment prices in Soviet-era standard design houses up 1.7% this year - Arco Real Estate

BC, Riga, 10.06.2019.Print version
In May this year, apartment prices in Soviet-era standard design houses in Riga rose 0.3 percent against April and climbed 1.7% from the beginning of the year, Arco Real Estate said in its latest report on the market of standard-design apartments.

The average price of the standard-design apartments in May 2019 grew to EUR 810 per square meter but still remained two times lower than in July 2017 when the average price of a non-renovated Soviet-era apartment hit all-time-high of EUR 1,620. Compared to the beginning of 2018, the average apartment price rose 6 percent in May 2019.

In May this year, apartment prices rose in most residential neighborhoods of Riga but the rise was not as steep as in April. In May, prices of double-room apartments remained unchanged, while smaller and larger apartments tended to rise in price. Prices of single-room apartments edged up 0.2%, and prices of three-room and four-room apartments rose 0.5% in May.

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