RIGA, Feb 14 (LETA) - In January this year, apartment prices in Soviet-era standard design houses in Riga rose by 2 percent from December 2021, Arco Real Estate said in its latest report on the market of standard-design apartments.

The average price of the standard-design apartments in January 2022 grew to EUR 920 per square meter, but remained roughly 43 percent lower than in July 2007 when the average price of a non-renovated Soviet-era apartment hit the all-time-high of EUR 1,620. Compared to the beginning of 2021, apartment prices in Soviet-era houses in Riga were 14 percent higher in January 2022.

According to the Arco Real Estate report, apartment prices continued to rise all the city's largest residential neighborhoods.

In January 2022, the price per square meter rose by 2.4 percent for single-room apartments, by 2.4 percent for double-room apartments, by 1.6 percent for three-room apartments and by 1.5 percent for four-room apartments.

Compared to December, apartment prices climbed at the faster rate in Vecmilgravis neighborhood where prices went up 2.9 percent month-on-month.

The highest prices, at EUR 1,054 per square meter, remained in Teika, while the lowest prices at EUR 675 were recorded in Bolderaja.