Bal­sts: high­est stan­dard apart­ment prices noted in Teika dis­trict

Baltic News Network - - News -

In Fe­bru­ary, av­er­age stan­dard apart­ment prices were sta­ble. Only in a cou­ple of mi­crodis­tricts had min­i­mally in­creased – by 0.12%, as re­ported by a rep­re­sen­ta­tive of real es­tate com­pany Bal­sts.

Prices of stan­dard apart­ments were the high­est in Teika dis­trict – 866 EUR/m2. Bold­er­aja re­mains a leader in terms of low prices – 486 EUR/m2. The largest price in­crease was noted in Imanta in Fe­bru­ary (0.53%). Bal­sts in­dex in Jan­uary in­creased by 1 point – 171 points.

«Although apart­ment sup­ply re­mains low and un­able to sat­isfy de­mand, the mar­ket re­tains a level of sta­bil­ity. Price rise is held back by the lack of de­mand and that more than one-third of Latvia’s eco­nom­i­cally ac­tive res­i­dents con­sider the pur­chase of apart­ments in new pro­jects, where there is cur­rently a deficit of sup­ply. The lack of sup­ply is not some­thing that can be com­pen­sated in a short pe­riod of time, it can take years,» says Bal­sts chair­man Ai­gars Zarins.

He pre­dicts that the cur­rent sit­u­a­tion could in­flu­ence more rapid price rise on the sec­ondary mar­ket and in the new pro­ject seg­ment.

De­mand for hous­ing rent in Pieriga is sta­ble. Peo­ple mostly pre­fer Marupe, Babite, Garkalne and Stopini. Peo­ple are pre­pared to pay EUR 1,000 – EUR 2,000 for new 200-250 m2 apart­ments a month. For qual­i­ta­tive new apart­ments, monthly rent pay in Pieriga is cur­rently EUR 400-EUR 750, com­pany rep­re­sen­ta­tives ex­plain.

Ac­tiv­ity of buy­ers on the new pro­jects seg­ments re­mains on the pre­vi­ous level. Prices in Fe­bru­ary re­mained un­changed – 1,400 EUR/m2. Prices for new pro­ject apart­ments cur­rently range on av­er­age be­tween EUR 1,000 and EUR 1,750 per 1 m2 (EUR 1,450 to EUR 3,800 in the city cen­tre). In the ex­clu­sive apart­ment seg­ment varies be­tween EUR 2,400 and EUR 4,000 per m2.

«Cur­rently A-class of­fice space in Riga is of­fered at a price of 12-16 EUR/m2 a month. In more pres­ti­gious build­ings, rent price comes close to 16-19 EUR/m2 a month. B-class of­fice space varies be­tween 7-12 EUR/m2,» Bal­sts com­ments.

Ieva Čīka/LETA

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