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Market report about situation on March 2013



MARKET SITUATION IS STUBBORN AS SPRING AND BEARS NO NEW DEVELOPMENTS

March 2013 showed 0.2 - 0.52% price increase in new projects and secondary market in Centre, Plavnieki, Agenskalns and Imanta. In opposition - price drop by 0, 17 to 0.9% were spotted in Purvciems, Mezciems, Vecmilgravis, Kengarags and Ziepniekkalns. Average apartment price in Riga for March constituted 579 euros per square meter.  

 

The market situation is stubborn like spring and bears no new developments. The number of transactions compared to February increased by 9% as well as transaction amount remains unchanged within around 1100 transactions per month compared to March 2012 year. In total during March Balsts index is 131.

  The activity in March in new project segment remained at a constant level. Observed, that currently the most common on the market is acquisition of the centre housing for foreigners. While to local buyers mostly are interested offers in suburb areas of the city. Mostly demanded are 2 and 3 bedroom apartments with an average price from 1150 to 1300 euros per square meter.

Supply for commercial premises over the last 3 years has not significantly increased with new A and B-class office buildings. Every month stock of vacant premises in existing projects decrease. This is the main reason why the A and B class office rental rates have increased by an average of 1-3 euro per square meter. The most significant increase was observed in Class A office space - on average 12-14 EUR/m2 month.

 

 

 

More information you will get::

Balsts ,Lacplesa 41,

Тel.: + 371 67076191

Fax: + 371 67076199

info@balsts.lv, www.balsts.lv

  

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