Analytics, Latvia, Real Estate

International Internet Magazine. Baltic States news & analytics Thursday, 28.05.2020, 01:33

LANIDA: Prices of new apartments in Riga's residential neighborhoods down 2% in April

BC, Riga, 16.05.2019.Print version
In April 2019, the average price of new apartments in Riga’s residential neighborhoods dropped 2 percent from March 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 declined 1.5% and in Riga Region increased 1% in April.

Apartment prices in new residential projects went up 2% in downtown Riga and 0.1% in Riga's residential neighborhoods, but dropped 0.3% in the Riga Region. In Jurmala, the Latvian sea-side resort town close to Riga, apartment prices in new houses was down 3% in April.

According to information provided by LANIDA, the average apartment price in new residential projects in April was EUR 2,500 per square meter in the Riga center, EUR 1,465 per square meter in Riga’s residential neighborhoods, EUR 937 per square meter in Riga Region and EUR 2,800 per square meter in Jurmala.

The average apartment price in the secondary market was EUR 1,480 per square meter in downtown Riga, EUR 820 per square meter in Riga’s residential neighborhoods, and EUR 566 per square meter in Riga Region.

The average price of private houses was EUR 1,203 per square meter in Riga's residential neighborhoods, EUR 938 per square meter in Riga Region and EUR 1,316 in Jurmala.

The housing market price indicator for April 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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