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IN AUTUMN PROPERTY PRICES HAVE STABILIZED


Real estate company’s BALSTS observations made in September, shows that the situation in the real estate market has stabilized. In most of Riga property prices have remained at the same.

„In September housing price growth has stopped. For appartments in residential districtsthe average price is 580-620 EUR per sqm. In the center housing prices are stable, there has been no price increase, the average price is 1000 EUR per sqm. Still demanded are 2 room apartments with high quality repairs to 80 000 EUR. Minimal price increase is observed only in Vecmilgravis. Now the average price there is 600 EUR per sqm. In Teika most demanded are 3 room apartments. Offer for these apartments are small, they are sold now for highest market price in Teika - 800 EUR per sqm. Lending has intensified. Banks try to keep their customers by offering opportunities to consider interest rates, " said CEO of the company Aigars Zarins.

 

The activity in a rental segment has slowed down, in August it was associated with an influx of students in Riga. Most demanded are high quality and stylish 2 and 3 bedroom apartments in the city center, the average price for these apartaments per month is 4 to 6 EUR per sqm.

 

            „In commercial segment customer activity remained the same, the autumn season begun actively. The biggest demand is for spaces on the first floors in active flow of people in the center of Riga and in Old Town. In residential districts most active are places at the major venues, shopping centers and market areas. The highest demand is for office places from 30 to 50 sqm. Customers who are currently renting cold areas, wants to move to areas with heating. Prices in commercial segment remained unchanged. The average price of offices in the center and in the neighborhood is 4 – 5 EUR per sq.m, the average price of warehouses is 2 EUR per sq.m. In the best areas of the center and in the Old Riga a price of the trading places is 10 – 15 EUR per sq.m, " the situation in the real estate market explains Aigars Zarins.

 

More information you will get:

BALSTS, Audēju Street 8,

Tel.: + 371 67076191

Fax: + 371 67076199

info@balsts.lv, www.balsts.lv

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