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Monday 19.02.2018 | Name days: Zane, Zuzanna
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Apartments prices in Riga lower than they were in 2007

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In December 2012, there were 6.4% more apartments available for purchase in Riga than there were in 2011. The capital’s index increased by 9.2%.

The prices of standard apartments have generally increased – by 2% on average. The increase was mostly noted in Q1 of 2012 – when it reached the year’s highest mark (595 EUR/m2). The remaining quarter of 2012 were mostly stable. The total activity on the standard apartment market increased in 2012.

December’s standard apartment prices remained stable (growing by only 0.1%). The average standard apartment price reached 595 EUR/m2, according to data from Arco Real Estate.

Currently, apartment prices are 63.3% lower than they were in 2007, when the average price of an non-repaired apartment reached its all time high – 1 620 EUR/m2.

The largest supply of apartments was noted in micro-districts of Purvciems, Plavnieki, Kengarags and Imanta. The smallest supply of offers was noted in Bolderaja and Zolitude in December 2012. The number of offers also dropped in all Riga micro-districts as well. The largest reduction was noted in Jugla – 20.3%. One bedroom and two bedroom apartments are the most demanded one in Riga micro-districts, as well as well furnished apartments. Non-repaired apartment are in the least demand.

In December, reduction of general activity was noted on the standard apartment market, which can be explained with the holidays in the end of the year. This is shows by the 11.6% reduction of apartment offers in Riga micro-districts, as well as a general 10.8% reduction in the capital. At the same time, supply is 6.4% higher than it was in December of 2011 in the largest micro-districts and by 9.2% higher in Riga.

Ref: 102.109.109.5673


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  1. The cucumber says:

    In 2013 prices will go on dropping .Reverta is selling flats and houses at bargain sales up to 40 % discount.Have a good deal !!

    Thumb up 0 Thumb down 0

  2. JPR says:

    “apartment prices are 63.3% lower than they were in 2007”

    i.e. that is just a 1/3 of original prices

    2% is only keeping up with inflation.

    Thumb up 0 Thumb down 0

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