The sales of standard housing in Riga increased by 23% in a year

June 24, 2016

The sales of standard housing in Riga increased by 23% in a year

According to the company Baslts, in may of 2016 the number of transactions with standard serial housing increased by 23% compared to last year. In the first quarter the growth amounted to 16%.

Standard apartments have risen in price, depending on the district from 0.06 to 1.43%. The average cost per meter amounted to €695. Expensive typical home sold in the Teika (€831 per square). This is the greenest area in the center of Riga. The cheapest apartments can be found on the outskirts — in Bolderāja (€478 per m2).

In addition, CEO of the Balsts noted the increased demand in the segment of new apartment complexes. Most actively in this sector of the real estate market of Riga are young people aged 30 years with a stable income. Experts attribute this to the improving conditions of mortgage lending in Latvia. Now monthly mortage payments are less than rent. About half of the buyers who choose a new housing, refer to the help of a mortgage.

Also Latvians increasingly agree on the purchase of an apartment under construction.

Based on the materials of baltic-course.com

Photocredit Depositphotos.com