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Prices of standard design apartments in Riga climb 6.2% over year
BC, Riga, 16.10.2016.
Print version
Print versionIn September 2016, prices of standard design apartments in Riga’s residential neighborhoods climbed 0.2% against August 2016 and 6.2% against September 2015 to EUR 696 per square meter, Arco Real Estate company said in its latest apartment market review, writes LETA.
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In September 2016, the prices of standard design apartments had risen by 13.5% against 2014 and were 9.2% higher than at the beginning of 2015.
The prices, however, were still 57.1 % lower on average than in July 2007 when the average price of a non-renovated standard design apartment had hit an all-time high - EUR 1,620 per square meter.
Standard design apartments in the neighborhood of Teika remained the most expensive in September, selling for EUR 857 per square meter. The cheapest apartments were available in Bolderaja where a square meter in a standard design apartment costed EUR 480.
The rise in apartment prices in Riga slowed down in September from previous months, dropping to the lowest point so far this year.
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