Strong recovery in Riga continues in Q1 2010
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The average price of apartments in Latvia’s capital Riga rose during the year to April 2010 by 3.5% (6.4% in real terms) to €592 per square metres (sq. m.), according to Arco Real Estate, a leading Baltic real estate developer. House prices are now up 21.6% (21.4% in real terms) from the bottom of the slump in September 2009.
The average price of apartments is nevertheless still down 63.5% (69.4% in real terms) from the peak of €1,620 per sq. m. in June 2007. Prices were also, by concidence, up 3.5% (2.6% in real terms) over the latest month.
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