Number of transactions in Latvia's premium housing market up 22.9% in Q1

• Published date: 18 May 2022
• Publication title: LETA

The number of transactions in Latvia's premium housing market in the first quarter of this year rose by 22.9 percent to 268 compared to the respective period last year, according to Latvia's Sotheby's International Realty report.

At the same time, compared to the previous quarter - the fourth quarter of 2021 - the number of transactions in the premium housing market declined by 46.3 percent.

Compared to the fourth quarter of last year, turnover of premium housing transactions declined by 37.9 percent to EUR 67.1 million. Turnover increased by 19 percent compared to the first quarter of last year.

Compared to the fourth quarter of 2021, there was a drop in all reporting regions - Riga, Jurmala and Pieriga, while, compared to the first quarter of last year, there has been a rise in all regions, especially outside the Latvian capital.

In Riga, 175 housing transactions were concluded in the first quarter of this year, the total value reaching EUR 39.2 million, which was by 38 percent less than in the previous three months, but by 1.2 percent more than in the respective period last year.

Whereas in Jurmala, 49 premium segment transactions for the total amount of EUR 17.5 million were concluded, down 35.2 percent quaret-on-quarter and up...