Latvia, Legislation, Real Estate

International Internet Magazine. Baltic States news & analytics Friday, 28.03.2025, 15:46

Apartment costs in downtown Riga have increased by 10.4% in Q1

BC, Riga, 10.06.2014.Print version
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The average price of apartments in downtown Riga in the first quarter 2014, was EUR 2,650 per square meter, an increase of 1.9%, as compared to the previous quarter. The average price in the first quarter 2013, has increased by 10.4%, the latest real estate report by Latio indicates, cites LETA/Nozare.lv.

In the third quarter of 2014, the average price for an apartment in the suburban developments of Riga was EUR 1,380 per square meter – 2.2% more than at the end of 2013, 6.6% more than during the first three months of 2013.

 

In the first quarter of 2014, the average price for apartments in the Old Town of Riga was EUR 4,250 per square meter. Compared to the last quarter of 2013, the price has increased by 1.2%; compared to the first quarter of 2013 – 3.7%.



 

The range of prices is wide and depends on the location of the building. New apartments in the vicinity of Riga in May cost about EUR 700-900 per square meter, suburban developments of Riga – EUR 900-1,850 per square meter, downtown Riga – EUR 1,500-3,500 per square meter. Prices for some exclusive apartments may reach EUR 4,000-6,000 per square meter.





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