Typical apartments in Riga rose slightly in 2012

Typical apartments in Riga rose slightly in 2012

The average price per square meter of typical apartmentsin Riga in December 2012 was up 1,4% compared to December 2011, as compared to December 2010 – 0,7%. In the last month the average price per square meter in the capital of Latvia increased by 0,5% to 583 euros (LVL 408,1), reports company Latio.

Higher prices were recorded mainly in the first quarter of 2012, reports Arco Real Estate. Since the beginning of 2012 significant apartment prices grew in Riga district Jugla (+5%), and least of all - in Zolitude (+0,6%).

According to the forecasts for 2013, the serial accommodation in Riga is not significantly more expensive; prices will rise by no more than 5%. It is expected that poor-quality housing will become cheaper in 2013.

For comparison, the record apartments’ prices in Riga were in July 2007 (1 600 euros per square meter). Since then, prices have dropped by 63.3%.