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Market report about situation on March 2015



THE NUMBER OF TRANSACTIONS DECREASED BY 19.1%, BUYERS ARE ADVISED TO MAKE CAREFULLY CONSIDERED DECISIONS

In recent months, in most of the secondary market there has been an observable price stabilization. The average apartment price in March increased to 655 EUR/m2. In March 2015 there were apartment price decreases from 0.12-1.30% in most of the secondary market, as well as in the center and new projects. Minimal price increases from 0.19-1.13% were observed in Teika, Pļavnieki, Vecmilgravis and Imanta. This month the BALSTS index increased by one point and reached 148 points.

 

„Real estate transactions, compared to March 2014, decreased by 19.1%. Although the real estate market activity is high, potential buyers are not rushing, or making their decisions carelessly. On current trends - low housing lending volumes, slow-growing potential buyer solvency level, it is expected that the number of transactions in the future will not increase drastically”, explains the CEO of company BALSTS Aigars Zarins.

  The largest secondary market apartment offer is in Purvciems Plavnieki and Ziepniekkalns while the smallest is in Bolderāja and Vecmilgrāvis. In March 2015, the average 1m2 value for apartments, evaluating them according to the number of rooms, increased to 1-bedroom ( 0.4%) and 2-bedroom (0.3%), also 3-bedroom (0.5% ) and 4-bedroom (0.2%) apartments. The highest growth in apartment prices in March 2015 remained in Teika, where the average price is at 780 EUR/m2 position.

Demand for house rentals in the suburbs of Riga or the former Riga region is stable, with potential tenants favouring Marupes, Babites, Garkalnes and Stopinu counties. For a new house in good condition, with an area of 200-250 m2, tenants are willing to pay 1,000 to 2,000 euros per month. But for high –quality flats in the suburbs of Riga monthly rental fee is around 400-700 euros per month.

Rental rates in shopping centres for spaces of 150-300m2 in Riga is around 15-25 euros/m2 to 100m2 30-55 euros/m2. In Riga most popular shopping streets of commercial space rental rates are 20-40 euro/m2, Old Town 20-50 euros/m2.

 

 

 

Plašāku informāciju iegūsiet:

BALSTS, Lāčplēša iela 41,

Tālr.: + 371 67076191

Fax: + 371 67076199

info@balsts.lv, www.balsts.lv

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