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Eastern European Market Stabilising

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Poland  EUR  real estate market  Warsaw  Riga  Latvia 

By - Thursday 09 December 2010

The residential property market in Eastern European destinations is beginning to stabilise, with some locations enjoying modest price increases. According to the latest data from Ober-Haus Real Estate Advisors, Poland in particular has been performing well.

In November apartment prices increased in Warsaw and in Gdansk where values were up one per cent to an average of EUR 1,593 per square meter.

Another indication of the growing confidence in the market is the gradually increasing level of transactions which are taking place. In November, sales in Poland reached 616, the highest so far this year.

Meanwhile, the Ober-Haus Riga apartment price index also shows that other Eastern European markets are stabilising. Last month Riga, Latvia, enjoyed an active period in the real estate market both from the owners' and buyers' point of view.

During the past 12 months the price of apartments in the city has risen 4.8 per cent, however, prices still remain 60.9 per cent lower than their peak reached in May 2007.

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