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Friday, 26.04.2024, 14:00
Apartment prices in new residential projects to climb in Latvia
BC, Riga , 13.11.2020.
Print version
Print versionApartment prices in new residential projects will climb because new apartments are now in short supply, Arco Real Estate board member Maris Laukalejs said, LETA writes.
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The expert indicated that this year apartment prices in new projects have risen by roughly 5% but the increase might reach 7% to 10% by the end of 2020.
At present, the average price in new apartment transactions has reached EUR 1,580 per square meter, but but the offer price has risen to from EUR 1,700 per square meter in the spring to EUR 1,900 per square meter at the beginning of November.
Laukalejs said that the average transaction price does not reflect the current situation because these are mainly reservation agreements concluded a year or two ago when construction of the respective projects was only beginning.
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