Analytics, Latvia, Real Estate

International Internet Magazine. Baltic States news & analytics Sunday, 22.09.2019, 03:12

Apartment prices in Riga's residential neighborhoods down 1% in August - association

BC, Riga, 10.09.2019.Print version
In August 2019, prices on the secondary apartment market in Riga’s residential neighborhoods dropped 1 percent from July, according to the housing market price indicator drawn up by the Latvian Real Estate Association (LANIDA).

Prices dropped 1.5% on the secondary apartment market in downtown Riga and declined 3% in Riga Region.


Apartment prices in new residential projects declined 2% in downtown Riga and 3% in the city’s residential neighborhoods, and 0.5% in Riga Region. In Jurmala, the average price was unchanged in August.


According to information provided by LANIDA, the average apartment price in new residential projects was EUR 2,520 per square meter in the Riga center, EUR 1,405 per square meter in Riga’s residential neighborhoods, EUR 945 per square meter in Riga Region and EUR 2,756 per square meter in Jurmala.


The average apartment price on the secondary market was EUR 1,385 per square meter in downtown Riga, EUR 815 per square meter in Riga’s residential neighborhoods, and EUR 540 per square meter in in Riga Region.


The average price of private houses was EUR 1,180 per square meter in Riga's residential neighborhoods, EUR 970 per square meter in Riga Region and EUR 1,320 in Jurmala.


The housing market price indicator for July 2019 was based on the results obtained through monitoring of the actual transactions concluded by Ober-Haus, Latio and 1 Partner real estate companies.

 






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