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Real estate company’s BALSTS observations in August showed that customer activity increased, particularly in a commercial segment. Real estate prices remained at the same level.

"In August 2010 the price level for apartaments has not changed - in the center of Riga it is from 1000 to 1500 EUR / sqm (depending on the apartment's location and quality), for appartments in residential districts it is 600 EUR / sq.m. The biggest demand is for two bedroom and three bedroom apartments. Many owners are hoping to recover their investments by offering the apartments for inadequate prices. Real estate transactions are based on the bank financing, banks continue to actively provide a variety of lending options, "reported the company leader Aigars Zarins. 

In the rental segment, compared to July, prices have not significantly changed. Most active apartment seekers are students and families who lived in Jurmala during the summer and in autumn season want to return to Riga. The biggest demand in rental segmenti s for two bedroom and three bedroom apartments in good condition. The average rental price for a studio apartment in the center in good condition is 150 Ls / mon., for a two bedroom apartment - 220 Ls / mon., for a three bedroom apartment average price is 300 Ls / mon. In residential districts greatest demand is for two bedroom apartments with an average rental price 120 Ls / mon. 

  "In a commercial segment noticeably has grown up client activity. The request is for commercial areas on the ground floors with large windows, in places with active pedestrian flow and for office premises from 30 to 50 sq.m. Strong demand is also at cafes and restaurants in the premises of Riga. Prices for commercial areas have not changed. 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 in the August explained Aigars Zarins.

More information you will get: 

BALSTS, Audēju Street 8, 

Tel.: + 371 67076191 

Fax: + 371 67076199,


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