Latvia, Real Estate

In the secondary market, apartment prices in downtown Riga declined 0.2% over the past month and stayed unchanged in Riga Region.

Apartment prices in new residential projects went down 0.2% in downtown Riga and climbed 1.4% in the residential neighborhoods. In Riga Region, prices of new apartments rose 0.1% and in Jurmala prices of new apartments remained unchanged month-on-month.

The market price indicator for January 2018 was based on monitoring results provided by Ober-Haus, Latio and Balsts real estate companies.

According to the information provided by the real estate companies, in January 2018, the average apartment price in new projects was EUR 2,626 per square meter in the city center, EUR 1,348 per square meter in Riga’s residential neighborhoods, EUR 883 per square meter in Riga Region and EUR 2,695 per square meter in Jurmala.

In January, the average price in the secondary apartment market was EUR 1,387 per square meter in the city center, EUR 769 per square meter in Riga’s residential neighborhoods, and EUR 518 in Riga Region.

The average price of private houses was EUR 1,180 per square meter in Riga’s residential neighborhoods, EUR 920 per square meter in Riga Region and EUR 1,303 in Jurmala.