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Market report about situation on October 2012



The best investment opportunity for small investors.

There is stable demand remaining in Riga apartment rental market. Good quality and well priced apartments are required and rented immediately which leads for significant decrease of the supply. That is the basis for increase of average rent rate in whole Riga by 7, 3%. In October, the average rent for apartments in suburbs was 4.1 EUR / m², apartments in the city center - 8.2 EUR/ m², new residential projects - 11.9 EUR / m². 

 

Evaluating current trends in the rental market,investing into rental apartments by purchasing and further renting of them could be considered as best small-scale investment. Currently, the monthly loan payments are lower than the income from rent. As example, average price for refurbished apartment in Riga’s suburbs equals 29 000 euros. Credit payment for such apartment is around 135 euros, while the rent is about 215 euros per month. That leads to 80 euros net income monthly for an investor. People who accept the challenge of the investment,clearly will benefit.

  The number of transactions in October in Riga compared to the previous summer months has grown by 4.4%. At same time in comparison with October 2011, it increased by 10.7%. "Sales reflect a positive trend in the market, which must will lead to market growth in the future", the situation in the real estate market in October commented CEO of company “Balsts” Aigars Zarins.

This month, “Balsts” Index has remained unchanged - 128 points. Average apartment prices in Riga central part, new projects and standard type apartments did not change. As two areas with changes in average prices can be mentioned Mezaparks with 0.13% price drop and Agenskalns with 0.29% price increase.

 

 

 

More information you will get::

Balsts ,Lacplesa 41,

Тel.: + 371 67076191

Fax: + 371 67076199

info@balsts.lv, www.balsts.lv

  

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