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HIGH CUSTOMER ACTIVITY IN RENTAL AND COMMERCIAL SEGMENTS


Real estate company BALSTS has observed that, the new year 2011 has started with increase of  clients activity in rental and commercial segment. According to company’s research, activity from clients has increased for 15%, comparing with the end of the year 2010, while property prices  stay at the same level.

„In the segment of apartments, comparing with previous month, there are no variations of price.  The average price for series-type apartments in Riga stays constant 645 Eur/m2. For apartments in the center average price varies from 1000 – 1150 Eur/m2, depending on the apartment's condition and location. The greatest interest in January from clients were for 3-room apartments in Jugla. Teika and Purvciems most demanded were 2- room and 3- room apartments, while in Pardaugava most demanded were 4- room apartments. In the segment of apartments, comparing with December, has increased the number of costumers, who were interested in 4-istabu apartments,” the Real Estate Market in January rates the company’s CEO Aigars Zarins.

  Activity in rental market January has increased, because many foreign students have been actively seeking for residence in Riga. The greatest demand has been for apartments in new projects and for apartments in the city center. The city center apartment rentals in January has stayed at the same level as in December. The average price in new projects for 1-room apartments without is  utilities was 250Ls, for 2-room apartments 300Ls and for 3-room apartments - 400Ls. Still the most expensive are apartments in the part of the center, where most embassies are located. For these apartments, which are in good quality and with  modern infrastructure tenants  should  pay from 5 to 7Ls/m2.

  January in commercial segment has tourned out as a month with high costumer activity and stabilization of prices. For 15% has increased number of clients, who are seeking for premises for their commercial activities. Average price for premises in the center of Riga and Old town with are from 50-100m2 varies  from 10-17 Eur/m2, while average price for storage and production premises in suburbs and closest districts of Riga  are from 1,5-3 Eur/m2.

“Costumers activity in January has only increased, entrepreneurs are actively showing their interest for real estate in commercial segment. The great demand is for the land for commercial  building in the are of Riga.. Businessmans are buying land, to build their own industrial objects,” market situation explains Aigars Zarins.

 

More information you will get:

BALSTS, Audeju Street 8,

Mob.: + 371 67076191

Fax: + 371 67076199

info@balsts.lv, www.balsts.lv

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