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Friday 20.07.2018 | Name days: Ramona, Ritma
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Balsts: standard apartment prices remain the lowest in Bolderaja

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn March standard apartments were offered for an average price of 732 EUR/m2. The highest prices are found in Teika (867 EUR/m2). The lowest prices and most rapid price rise are found in Bolderaja (491 EUR/m2), according to data from Balsts.

Standard apartment price rise was 0.11-1.03% this month in all of Riga’s districts. Price rise remained unchanged in the city centre and new projects. Balsts Index had increased by one point – to 172 points.

«Changes to the number of transactions were noted in Q1 2017 – a rapid increase at the beginning of the year (+19.9%) and a decline in February (-11.2%). The number of transactions doubled again in March. The first quarter of the year, compared with the same period of 2016, saw an increase of the number of deals by 2.23%,» comments Balsts Chairman Aigars Zarins.

He explains that the increase of the number of transactions is related to residents’ positive outlook about their future and more active bank lending. «Data is also affected by the funding allocated for Altum programme in October 2016,» Zarins said.

Demand for apartment rent continued to exceed supply in March. Rent in new projects and reconstructed buildings in Riga centre is close to 10 EUR/m2 a month. Rent is 6.5 EUR/m2 on average for in partially repaired apartments and 5.5 EUR/m2 in non-repaired apartments. Supply is the highest in Purvciems, Plavnieki and Kengarags. It is the lowest in Bolderaja.

In the new projects segment, activity of buyers among local residents in March remained on the same level of previous months. Prices for new project apartments in Riga’s districts currently ranges within 1,000 – 1,750 EUR/m2, and 1,500-3,900 EUR/m2 in the city centre. The price of apartments in the exclusive segment varies between 2,600 – 4,000 EUR/m2.

Ref: 224.109.109.5623


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