Latvia, Real Estate

International Internet Magazine. Baltic States news & analytics Friday, 30.10.2020, 12:42

Apartment prices in Soviet-era houses in Riga climb 8.1% in November

BC, Riga, 11.12.2017.Print version
In November 2017, apartment prices in Soviet-era standard design houses in Riga climbed 0.2% month-on-month and 8.1% year-on-year, Arco Real Estate said in its latest property market review, cites LETA.

The average apartment price in Soviet-era standard design houses grew to EUR 766 per square meter in November, but stayed EUR 52.9 below the all-time high recorded in July 2017 when the price of a non-renovated Soviet-era apartment averaged at EUR 1,620. Compared to the beginning 2016, the average apartment price had risen 16.4% in November 2017.


“In Riga’s largest neighborhoods, apartment prices rose also in November, but the increase was small. Insignificant price hikes were recorded in nearly all residential neighborhoods of Riga,” Arco Real Estate said, adding that market activity traditionally slows towards year-end.


In November 2017, prices rose for single to four-room apartments. The average price of a square meter went up 0.1% for single-room apartments, 0.3% for double-room and three-room apartments and 0.4% for four-room apartments.

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