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Market report about situation on April 2014



HOUSING PRICES ARE UNREALISTICALLY INCREASED?

In most popular neighborhoods it is difficult to find a renovated apartment, with a price lower than 700 EUR/m2. Most in demand are objects where you can move immediately, but it is also reflected in the apartment price. For example, unrenovated two bedroom apartaments in the Kangaraga secondary market can be found for 25-26 thousand euros. By contrast fully renovated two-bedroom apartment within a week could be sold for 35 000 euros.

 

"Buyer interest in secondary market apartment purchase in April remained relatively high. On the other hand, new and ready for occupation apartaments have fewer offers than before. This situation stimulates the secondary market apartment price increses, " comments the CEO of company BALSTS Aigars Zarins.

  In April of 2014 apartment price increase were observed from 0.35 to 1.99% in most of the secondary market, as well in the center and new projects. In Teika average secondary market apartments price already reached 800 Eur/m2 mark, while in Bolderaja price is abot 50% lower - 452 Eur/m2.

In April the average square meter price for standard apartments in Riga compared to the previous month increased by eight euros and were 625 euros. Compared to April 2013, total apertments average price has risen by 3.9%, but this year - by 1.9%. BALSTS index in April increased by one point and reached 140 points.

Rental rates for commercial properties in Class A office centers in Riga extends to 15 Eur/m2. However, the most transactions were in class B complexes, where available space is offered from 8-10 Eur/m2. Such rental rates do not stimulate developers to plan and construct new commercial complexes.

 

 

 

Plašāku informāciju iegūsiet:

BALSTS, Lāčplēša iela 41,

Tālr.: + 371 67076191

Fax: + 371 67076199

info@balsts.lv, www.balsts.lv

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