17% increase in the number of apartment transactions in central Riga last year

RIGA - According to its latest real-estate report, the Latvian real-estate company Arco Real Estate points out that there was a 17 percent increase in the number of apartment transactions in central Riga last year when compared to the previous year.

This compared to a nine percent drop in real-estate transactions when comparing 2015 to 2014.

In in 2014 there were 1,746 apartment transactions in central Riga, then in 2015 there were 1,547 such transactions, but in 2016 - 1,810.

Arco Real Estate points out that the most transactions last year were in areas on the periphery of central Riga, as well as in Old Town.

The most popular apartment were two-room apartment, which made up over one-third of the total number of apartment transactions.

Furthermore, the average price of apartments in central Riga fell by 5.3 percent last year - from EUR 1,833 per square meter at the beginning of the year, to EUR 1,796 per square meter by the end of the year.