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Market report about situation on August 2013


August 2013 did not come up with any significant turns. 0.08 to 0.17% price increase were spotted in Center, new project segment and secondary apartments in Agenskalns and Imanta. 0.17 - 0.19% price drop were observed in Mezciems and Plavnieki. In total during August BALSTS index remains unchanged - 133 points. Since the beginning of 2013 Real Estate prices in Riga increased by 1.8%. The average price is 581 Eur/m2. Company BALSTS predicts that by the end of this year price increase could increase more than 3%. From January 2013 the number of transactions grew by 19%.


At this time the largest demand is for two-room apartments. Married couples with children consider buying three-room apartment. The lowest interest is about four-room apartments, although their prices are the same as three-room apartments and even lower. This is due to the high heating bills during the winter. There are also difficulties selling apartments in residential buildings, which are built on privately held land. The buyer often lose his interest when appears that the annual land rent for appropriate apartment is from 160 to 200 lats. Similar apartment’s in buildings where land and building owner is the same, has a price difference of 10-12%.

  The lack of appropriate object supply is causing commercial object rental rate increase. The average rental rate for A class office is 12 - 15 EUR/m2. As for B class office premises, rental rate is characterized from 8 - 11 EUR/m2. There is lack in supply of high quality commercial premises, although real estate developers are not in rush to supply the growing demand. At commercial segment the most significant activities we can wait from 2015th – 2017th year.




Plašāku informāciju iegūsiet:

BALSTS, Lāčplēša iela 41,

Tālr.: + 371 67076191

Fax: + 371 67076199,



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