Latvia, Real Estate
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 11:16
Prices of Soviet-time apartments in Riga climb 3.5% from beginning of year
In August
2018, the average apartment price in Riga’s Soviet-era houses reached 794 euros
per square meter. The prices were still 51% below the all-time high of 1,620 euros
per square meter, recorded in July 2007. Compared to the beginning of 2017, the
apartment prices in Soviet-era houses had increased by 13%.
The price
of a square meter in Soviet-era standard design apartments rose at the steepest
pace in Teika. In August, apartment prices in this residential neighborhood had
climbed 5% from the beginning of the year. Apartment prices in other
residential neighborhoods of Riga also increased from the beginning of 2018.
The slowest
rise was recorded in Imanta where apartment prices had risen by 1.6% from the
beginning of the year.
In August
2018, prices per square meter rose 0.1% for single room apartments, 0.2% for
double-room apartments, 0.3% for three-room apartments, and 0.3% for four-room
apartments.
In August
2018, the highest apartment prices were recorded in Teika where they averaged
at 952 euros per square meter, while the cheapest apartments could be bought in
Bolderaja where apartments were selling at 569 euros per square meter.