Latvia rising! Riga's housing market up 9.75%
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In the highest annual rise for more than nine years, average apartment prices in Riga rose by 9.75% y-o-y in November 2016 to €1,159 (US$1,235) per square metre (sq. m.),after growth of just 0.28% a year earlier, according to real estate agent OberHaus. When adjusted for inflation, apartment prices rose by 8.44%.
Although their figures are based on different transactions, Arco Real Estate’s figures show a similar trend, with apartment prices in Riga rising by 7.66% (6.37% in real terms) to €703 (US$749) per sq. m. during the year to November 2016 - in this case, the 13th consecutive month of annual house price rises above 2%.
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