Analytics, Latvia, Real Estate

International Internet Magazine. Baltic States news & analytics Tuesday, 02.06.2020, 13:53

Prices of new apartments in Riga's residential neighborhoods up 2% in March - association

BC, Riga, 18.04.2019.Print version
In March 2019, the average price of new apartments in Riga’s residential neighborhoods climbed 2 percent from February 2019, according to the housing market price indicator drawn up by the Latvian Real Estate Association (LANIDA).

In the secondary market, the average price of apartments in downtown Riga rose 0.2% and in Riga Region increased 4% in March.

Apartment prices in new residential projects went up 5% in downtown Riga and 2% in Riga's residential neighborhoods, but dropped 1% in the Riga Region. In Jurmala, the Latvian sea-side resort town close to Riga, apartment prices in new houses remained unchanged in March.

According to information provided by LANIDA, the average apartment price in new residential projects was EUR 2,450 per square meter in the Riga center, EUR 1,463 per square meter in Riga’s residential neighborhoods, EUR 940 per square meter in Riga Region and EUR 2,892 per square meter in Jurmala.

The average apartment price in the secondary market was EUR 1,500 per square meter in downtown Riga, EUR 833 per square meter in Riga’s residential neighborhoods, and EUR 560 per square meter in in Riga Region.

The average price of private houses was EUR 1,199 per square meter in Riga's residential neighborhoods, EUR 930 per square meter in Riga Region and EUR 1,320 in Jurmala.

The housing market price indicator for February 2019 was based on the results obtained through monitoring of the actual transactions concluded by Ober-Haus, Latio and Balsts real estate companies.

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