Riga, April 9 (LETA) - The number of transactions with apartments in the center of Riga increased by 11.5 percent last year, said Maris Laukalejs, a representative of real estate company Arco Real Estate, at the presentation of the latest market report on Wednesday.

Last year, a total of 1,935 transactions were made with apartments in the center of Riga compared to 1,736 transactions in 2023.

The average price of apartments in the center of Riga increased by 1.8 percent last year - from EUR 1,773 per square meter in 2023 to EUR 1,804 per square meter last year.

Laukalejs said that the number of transactions in the center increased more in the segment of cheap apartments, while the number of transactions in the "expensive end" decreased noticeably.

Laukalejs explained that small construction businesses have shown interest in apartments in poor condition in the center - buying an apartment in poor condition, cleaning it up and selling it can earn a good profit.