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Apartment prices in Riga's new housing projects down 9 pct: report

RIGA, Oct. 8 (Xinhua) -- In September 2015, apartment prices of new housing projects in the Latvian capital dropped 9.0 percent from the same month last year, Latvia's Balsts real estate company said in its latest market review.

"Apartments in new housing projects are now available for 1,000 to 1,750 euro per square meter on average, and for 1,500 to 3,900 euro per square meter in the city center. In the high-end segment, the prices of fully finished apartments can range from 2,600 to 4,000 euro per square meter," said Balsts owner Aigars Zarins.

Meanwhile, prices of standard design apartments in Soviet-era houses edged up 0.62 percent on average in September, according to the Balsts report.

Activity in the segment of private houses remained unchanged in September with buyers mostly looking for modern high-quality properties with good infrastructure, but the supply of such buildings was limited, the real estate company said.

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