Cenu Banka is a database used by real estate appraisers and real estate agents.
With its help, we analyze transactions with similar properties and gain an understanding of the market value of the property.
In addition, Cenu Banka sends a report each month with analytical data on purchase-sale transactions and rental transactions.
Let's consider the segments of interest to us.
Rental. Prices for rental of two-bedroom apartments - on average, from 300 to 600 euros. 300 euros - standard apartments.
600 euros - new or reconstructed buildings in central Riga. 450-500 euros - apartments in new buildings in residential areas.
New construction (primary and secondary market). This is the main segment we work with.
Secondary market - average price, 1950 euros per sq.m. This is a very accurate figure. For example, this month we plan to put up for sale an apartment in a new building, 76 sq.m., for 150,000 euros. That is 1973 euros per sq.m., which almost corresponds to the Cenu Banka data.
As for primary sales, prices exceed 2500 euros per sq.m.
As a result, many buyers prefer the "secondary market", where in a new building (built 5-10 years ago) you can buy an apartment with a larger area and at a lower price than in a new building from the developer that has just been commissioned. The difference will not be so significant if the apartment has been carefully maintained.
If you are interested in selling or renting - contact us, and we will be happy to help you!
Have questions? We look forward to your email or call!
Phone number: +371 29774775 (Viber, WhatsApp)
Email: info@kominvest.com