Transactions in new apartments in Riga up 13.5% in Q1

• Published date: 20 May 2022
• Publication title: LETA

RIGA, May 20 (LETA) - In the first quarter of 2022, the number of apartment transactions in new residential projects in Riga increased by 13.5 percent year-on-year - from 639 transactions in the first three months of last year to to 725 transactions in the first three months of this year, according to the latest overview of the property market released by Arco Real Estate.

Compared to the fourth quarter of 2021, when there were 806 transactions in new apartments, the number of transactions in the first quarter of 2022 dropped by 10 percent. The number of apartment transactions dropped by 3 percent in Riga's residential neighborhoods and by 26 percent in downtown Riga.

In the first quarter of this year, Arco Real Estate recorded 540 apartment transactions in...