Latvia, Real Estate
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Saturday, 20.04.2024, 04:59
Apartment prices in Riga increased by 4.9% in May y-o-y
Nina Kolyako, BC, Riga, 06.07.2011.
Print version
Print versionIn May 2011 apartment prices in Riga have grown 4.9% year-on-year, according to Riga apartment price index calculated by real estate company Ober-Haus.
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Compared to May 2007, when apartment prices were record high, the price level this past June was 59.4% lower, reports LETA.
The company has estimated that apartment prices in Riga increased 0.6% in June. The demand for apartments in qualitative new projects exceeded the supply, therefore many of them have become more expensive.
Local residents are mostly interested in small two- and three-room apartments in Riga's residential areas or apartments in new projects that are located close to the city's center.
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