Baltic apartment prices up year-on-year
Apartment prices in Poland have fallen within the last month – but Baltic prices have fared better, especially over the last year, according to new data.
Ober-Haus Real Estate Advisors say Polish apartment prices in October 2012 fell in five cities over the previous month and year-on-year.
In the Baltic, month-on-month prices in the Latvian capital Riga in October were stable, but fell 0.1% in the Lithuanian centre Vilnius and by a hefty 1.3% in Tallinn, Estonia.
However, over the year, apartment prices rose 3.4% in Riga (pictured) to an average of 989 Euros per square metre and were up 1.9% in Tallinn to 1,103 Euros per square metre.
Volume was also up in Tallinn. A spokesman says, “During first ten months of 2012, the market has been active with 28% more sales transactions with flats than in the same period last year.”
The greatest monthly fall in Poland was in Łódź, its third largest city, where prices fetched an average of 936 Euros per square metre, down 1.3% from September and 7.2% year on year.
Apartment prices in the capital Warsaw fell 0.5% over September and 2.7% in the last 12 months, says Ober-Haus. The average price was 1,939 Euros per square metre.
In Cracow, the monthly reduction was 0.4% and the annual fall was 3.9%. On average, prices were 1,628 Euros per metre.
The monthly fall in Poznan, in west central Poland, was 0.2% and over the year prices were 4.8% down. The average price was 1,327 Euros per square metre. Baltic city Gdansk saw just a 0.1% monthly reduction and the same 4.8% annual fall. Prices there averaged 1,407 Euros per square metre.