Latvia, Real Estate

In July, the average apartment price in in Soviet-era standard design houses was EUR 754 per square meter, which was still 53.5% below the all-time high recorded in July 2007 when a square meter in Soviet-era apartments was selling at EUR 1,620.

Compared to the beginning of 2016, the apartment prices in Riga had risen by 15.1%.

Although apartment prices continued to rise in Riga’s largest residential neighborhoods, the price hikes slowed in the summer from the beginning of the year, Arco Real Estate reported.

In July 2017, prices climbed at the fastest rate for single- to four-room apartments. The average price of a square meter in single-room apartments rose by 1%, the price of double-room apartments went up 0.4%, the price of three-room apartments increased by 0.3% and the price of four-room apartments grew 0.6% in July.