Property prices in Latvia

80% of foreign investors purchasing property in Latvia are Russian with the capital Riga attracting half of all property sales.

Mid-range new-build flats in Latvia cost €980–1,200/sq.m and luxury accommodation can range from €1,700–4,000/sq.m. Prices of Soviet-era flats rose by 3.2% in January 2015 and the Riga house prices also changed. Houses in Riga cost on average €640/sq.m. Downtown property prices can be as high as €2,500–3,500/sq.m, while average prices in Teika, Riga’s most expensive neighbourhood, start around €700/sq.m.

Buy property in Latvia 2,322 listings on Tranio

329,000 €

For sale modern apartment in Old Town

Total area 125 m²

400,000 €

Two-bedroom apartment with a balcony in Art Nouveau style building in prestigious district of Riga – Quiet Centre

Total area 97 m² 2 bedrooms

235,000 €

3-bedrooms apartment 102 m² in Old Riga, Latvia

Total area 102 m²

140,000 €

Furnished apartment with a balcony in a house with a rooftop terrace, a closed courtyard and a playground, Riga, Latvia

1 bedroom 1 bathroom

1,000,000 €

For sale an exclusive apartment in prestigious Embassy area

Total area 236 m²

1,300,000 €

Apartment in Quiet centre of Riga

Total area 174 m² 3 bathrooms

240,000 €

Unique apartment with tower for sale

Total area 190 m²

340,000 €

Elegant 3-room 2-level apartment with low utilities bills, in the center of Riga

Total area 133 m² 2 bedrooms

Savvy investors seeking upscale flats look for 199 and 104 Series’ blocks, the latter being a newer type of buildings, where one-bedroom apartments sell for €33,000–41,000. Khrushchyovka and Lithuanian project apartments have great Riga real estate prices for buyers with less funds, costing €18,000–30,000.

A one-bedroom flat in the popular Old Riga district is worth about €150,000 whereas an apartment with the same area in a residential district would only cost €70,000.

Average studio prices in the vicinity of Riga area are €23,000–30,000. One-bedrooms cost €32,000–40,000, two-bedrooms cost €36,000–47,000 and three-bedrooms — €45,000–52,000.

Jurmala, famous for its clean beaches and crisp pine forests, is also a favourite among buyers and accounts for more than 30% of the national property acquisitions in Latvia. Housing here is more expensive than in other cities, but is still much cheaper than most European countries. Flats start from €20,000, a superior villa might cost €500,000 and elite housing can reach €1.5M.

Investors looking to clinch value deals can head to the capital’s surrounding towns of Daugavpils, Jelgava, Liepaja, Marupe, Ozolnieki, Saulkrasti and Cesis where the square meter costs €300–500.