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Market report about situation on August 2014



THE NUMBER OF TRANSACTIONS IN AUGUST INCREASED BY 20%

„The number of real estate sale transactions in August, compared to the previous moth increased by 20%. Growth was largely influenced by non-residents increased activity before the Immigration Law amendments. But non-residents transactions do not dominate, including only one-fifth part of the totalling number of transactions in August”, comments the CEO of company BALSTS Aigars Zarins.

 

Property supply in Riga is now filled with properties for which the sale price does not reflect to the actual property condition and location. The owners have created this price increase in order to attract the attention of non-residents. It is expected that in the 3rd quarter of 2014, there will be different price movements. Prices are expected to fall where they have been above 142,300 EUR. On the other hand, prices will rise for properties with a value of approximately 250 000 EUR.

  In August 2014 apartment price increases were observed of 0.15 – 0.89% % in most of the secondary market, as well in the center and new projects. 0.37% price drop were observed in Vecmilgaravis. For August BALSTS index increased by one point and reached 144 points.

With regard to Riga office space, A class space is being offered for tenancy at 12 – 16 Euros per square meter, and, in the most prestigious buildings, up to 16-19 Euros per month. Class B space is on offer at 8,00 – 12,00 Euros per square meter per month, before service charges. The greatest demand is for premises of an area less than 200 sq.m.

 

 

 

Plašāku informāciju iegūsiet:

BALSTS, Lāčplēša iela 41,

Tālr.: + 371 67076191

Fax: + 371 67076199

info@balsts.lv, www.balsts.lv

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