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.
329,000 €
Total area 125 m²
235,000 €
Total area 102 m²
1,000,000 €
Total area 236 m²
1,300,000 €
Total area 174 m² 3 bathrooms
240,000 €
Total area 190 m²
340,000 €
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
A
Average studio prices in the vicinity of Riga area are
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
| Riga | Jurmala | |
|---|---|---|
| Apartments (flats) | 600–1,000 | 1,500–2,000 |
| Detached property (houses, villas) |
1,000–2,000 | 2,000–2,500 |
| Luxury property (mansions, estates) |
2,500–3,500 | 3,000–5,000 |
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