Analytics, Latvia, Real Estate

On the secondary apartment market, prices in downtown Riga climbed 6% and rose 0.2 in Riga Region.

Apartment prices in new residential projects went up 5% in downtown Riga and dropped 1% in Riga's residential neighborhoods but edged up 0.1% in the Riga Region. In Jurmala, the Latvian sea-side resort town close to Riga, apartment prices in new houses declined 4%.

The housing market price indicator for July 2018 was based on the results obtained through monitoring of the actual transactions concluded by Ober-Haus, Latio and Balsts real estate companies.

According to the information provided by the real estate companies, in July 2018, the average apartment price in the new residential projects was EUR 2,760 per square meter in the city center, EUR 1,375 per square meter in Riga's residential neighborhoods, EUR 891 per square meter in the Riga Region and EUR 2,700 per square meter in Jurmala.4

In July this year, the average price on the secondary apartment market was EUR 1,464 per square meter in the city center, EUR 778 per square meter in Riga's residential neighborhoods, and EUR 528 in the Riga Region.

The average price of private houses was EUR 1,130 per square meter in Riga's residential neighborhoods, EUR 895 per square meter in the Riga Region and EUR 1,400 in Jurmala.