The serial apartment prices reach the highest point in the period of last six years

The serial apartment prices in Rīga residential areas in June grew per 0.3 % in comparison with May, while the average price kept increasing up to the position of 645 EUR/m², which is the highest point in last six years in this apartment segment, as indicated in the monthly Arco Real Estate market overview.

Even though June was the fifth month in a row when a serial apartment increase was found, the Arco Real Estate Member of the Board Māris Laukalējs characterizes it as reasonable: the prices had increased per 1.2 % altogether since the beginning of 2015.

The expert holds a view that it is too early to talk about an essential price increase trend due to the fact that the price changes are small in all Rīga residential areas the same as during the previous months, besides a price decrease was observed in many residential areas during the summer months as well.

The biggest average price increase per a square metre in Rīga residential areas was found in Bolderāja (+ 2.5 %), Āgenskalns (+ 2.2 %), and Ziepniekkalns (+ 2.2 %). Also, in the biggest part of other Rīga residential areas the prices kept increasing during this period. The price level in June started decreasing only in Teika (-1.5%). The most expensive apartments in the overview period remained in the buildings of 119th and 104th series, whereas the Lithuanian project and Khruschev houses were the cheapest ones.

The serial apartment offer amount in the residential areas observed by Arco Real Estate increased only per 1 % in June 2015, but in comparison with last July the apartment offer in the biggest residential areas of Rīga shrank per 6.1 % indicating the market activity reduction, adds M. Laukalējs.

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19.06.2015

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