Authored by the expert who managed and guided the team behind the Latvia Property Pack
Everything you need to know before buying real estate is included in our Latvia Property Pack
This blog post covers the current housing prices in Latvia as of January 2026, and we constantly update it with fresh data from authoritative sources.
Whether you're looking at apartments in Riga or houses in the suburbs, you'll find clear price ranges and practical examples below.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Latvia.
Insights
- Latvia's housing market shows a two-speed dynamic: standard Soviet-era apartments in Riga trade around €700 to €1,100 per square meter, while new builds in the city centre reach €2,900 to €4,300 per square meter.
- Over the past 10 years, Latvian dwelling prices have risen by roughly 110% in nominal terms, but only about 40% to 50% after adjusting for inflation, especially the high inflation years of 2022 and 2023.
- The typical gap between listing price and final sale price in Latvia is around 6%, meaning buyers usually close deals at about 94% of the asking price.
- Bolderāja remains Riga's most affordable housing estate at roughly €663 per square meter, while Teika commands the highest standard-apartment prices at around €1,076 per square meter.
- New-build properties in Latvia carry a premium of about 60% over older housing stock, driven by energy efficiency, modern layouts, and lower maintenance uncertainty.
- About 70% of Latvia's residential market consists of apartments, with detached houses making up roughly 25% and townhouses and villas accounting for the remaining 5%.
- The Land Register state fee for individuals in Latvia was reduced to 1.5% of property value, down from the previous 2%, making ownership registration more affordable for buyers.
- Luxury apartments in Riga's Old Town can reach €5,000 to €7,000 per square meter, putting a 150-square-meter penthouse in the €750,000 to €1,000,000 range.
- For a budget of $100,000 in Latvia, buyers can realistically purchase a 50-square-meter standard apartment in neighborhoods like Ķengarags or Imanta.
- Latvia's property market above $2,000,000 is thin, with very few listings available, typically limited to trophy penthouses in Old Town or landmark villas in Mežaparks.
What is the average housing price in Latvia in 2026?
The median housing price is more useful than the average because it represents what a typical buyer actually pays, without being skewed upward by a few expensive luxury properties.
We are writing this as of January 2026 using the latest data collected from authoritative sources like Latvia's Central Statistical Bureau and established Baltic real estate firms, all of which we manually verified.
The estimated median housing price in Latvia in 2026 is €85,000, which converts to approximately $100,000 or €85,000. The estimated average housing price in the Latvia market in 2026 is €120,000, which converts to approximately $141,000 or €120,000.
About 80% of residential properties in the Latvia market in 2026 fall within the range of €55,000 to €220,000, or roughly $65,000 to $259,000.
A realistic entry range for property in Latvia in 2026 is €35,000 to €60,000 (approximately $41,000 to $71,000), which can get you a standard Soviet-era 2-room apartment of 45 to 55 square meters in areas like Bolderāja, typically unrenovated.
A realistic price range for a typical luxury property in Latvia in 2026 is €500,000 to €1,800,000 (approximately $589,000 to $2,122,000), which would get you a new-build or fully renovated large apartment or penthouse of 120 to 200 square meters in Riga's city centre or Old Town.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Latvia.
Are Latvia property listing prices close to the actual sale price in 2026?
The estimated difference between listing price and actual sale price in Latvia in 2026 is around 6%, meaning most properties sell at approximately 94% of the asking price.
This gap exists mainly because sellers in Latvia tend to anchor their asking prices high to test the market, especially during slower months. The discount is often larger for older apartments needing renovation or properties in less desirable locations, while well-priced new builds in popular Riga neighborhoods tend to sell closer to their listing price.
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What is the price per sq m or per sq ft for properties in Latvia in 2026?
As of January 2026, the estimated median housing price in Latvia is €1,350 per square meter ($1,591 per square meter) or €125 per square foot ($148 per square foot). The estimated average housing price is €1,750 per square meter ($2,063 per square meter) or €163 per square foot ($192 per square foot).
Smaller, turnkey units in prime locations like Riga's city centre and Old Town have the highest price per square meter in Latvia in 2026, while large older homes needing renovation in areas far from job centres have the lowest, mainly because buyers pay a premium for move-in-ready quality and central walkability.
In Latvia in 2026, the highest prices per square meter are found in Vecrīga (Old Town) and Centrs, ranging from €2,900 to €7,000 per square meter. The lowest prices are in housing estates like Bolderāja, where you can find standard apartments around €630 to €750 per square meter.
How have property prices evolved in Latvia?
Compared to one year ago, Latvia property prices in 2026 have increased by roughly 4% in nominal terms, though in real terms (adjusted for inflation) prices are essentially flat. This modest growth reflects a balance between limited supply in popular Riga neighborhoods and constrained buyer purchasing power due to higher mortgage rates.
Looking back two years to early 2024, Latvia property prices have risen by an estimated 7% to 9% nominally. Much of this growth came from the new-build segment, where buyers increasingly pay premiums for energy-efficient homes with predictable maintenance costs.
By the way, we've written a blog article detailing the latest updates on property price variations in Latvia.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Latvia.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Latvia versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What types of homes are available in Latvia and how do their prices compare in 2026?
In the Latvia market in 2026, apartments (both standard and new-build) make up about 70% of listings, detached and semi-detached houses account for roughly 25%, townhouses represent about 3%, and premium villas make up the remaining 2%, reflecting Latvia's Soviet-era building legacy and the concentration of population in Riga.
As of January 2026, the average price for a standard older apartment in Latvia is around €75,000 ($88,000), while new-build apartments average €190,000 ($224,000). Detached non-luxury houses typically cost around €170,000 ($200,000), townhouses average €210,000 ($247,000), premium apartments in Riga's centre run about €600,000 ($707,000), and premium houses or villas average €950,000 ($1,120,000).
If you want to know more, you should read our dedicated analyses:
- How much do properties cost in Latvia?
- How much should you pay for a house in Latvia?
- How much should you pay for lands in Latvia?
How do property prices compare between existing and new homes in Latvia in 2026?
New-build properties in Latvia in 2026 carry an estimated premium of about 60% over older existing homes on a per-square-meter basis.
This significant gap exists because new constructions offer energy efficiency, modern layouts, elevators, parking, and builder warranties, while older Soviet-era stock carries renovation uncertainty and higher long-term maintenance costs that buyers factor into their offers.
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How do property prices vary by neighborhood in Latvia in 2026?
In Centrs (Riga's city centre), you'll find a mix of renovated pre-war apartments and modern new builds, with typical prices ranging from €240,000 to €550,000 ($283,000 to $648,000). This premium reflects the central location, walkability to amenities, and strong demand from both local professionals and expats seeking convenient urban living.
Vecrīga (Old Town) offers renovated historic apartments in Latvia's most prestigious address, with prices typically ranging from €350,000 to €1,200,000 ($412,000 to $1,410,000). The high prices result from extreme scarcity, heritage appeal, and strong rental demand from short-term visitors and affluent tenants.
Āgenskalns has become popular among expats seeking character housing with an improving neighborhood vibe, with prices typically ranging from €120,000 to €280,000 ($141,000 to $330,000). Buyers here get more space for their money compared to Centrs while still enjoying good parks, cafes, and an increasingly attractive lifestyle.
You will find a much more detailed analysis by areas in our property pack about Latvia. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Character | Avg Price Range | Price per sqm | Price per sqft |
|---|---|---|---|---|
| Bolderāja | Budget / value | €35k-€70k ($41k-$82k) | €630-€750 ($742-$884) | €59-€70 ($69-$82) |
| Ķengarags | Budget / commute | €40k-€85k ($47k-$100k) | €650-€820 ($766-$967) | €60-€76 ($71-$90) |
| Zolitūde | Budget / family | €45k-€95k ($53k-$112k) | €780-€950 ($920-$1,120) | €72-€88 ($86-$104) |
| Imanta | Family / commute | €50k-€110k ($59k-$130k) | €820-€980 ($967-$1,156) | €76-€91 ($90-$107) |
| Purvciems | Liquid / popular | €45k-€115k ($53k-$136k) | €850-€980 ($1,002-$1,156) | €79-€91 ($93-$107) |
| Pļavnieki | Value / family | €45k-€105k ($53k-$124k) | €800-€920 ($943-$1,085) | €74-€85 ($88-$101) |
| Jugla | Nature / family | €50k-€125k ($59k-$147k) | €860-€1,000 ($1,014-$1,179) | €80-€93 ($94-$110) |
| Āgenskalns | Lifestyle / expat | €120k-€280k ($141k-$330k) | €1,300-€2,200 ($1,532-$2,593) | €121-€204 ($142-$241) |
| Teika | Premium estate | €70k-€170k ($82k-$200k) | €1,000-€1,150 ($1,179-$1,356) | €93-€107 ($110-$126) |
| Mežaparks | Premium / green | €250k-€900k ($295k-$1.06M) | €2,200-€4,000 ($2,593-$4,715) | €204-€372 ($241-$438) |
| Centrs | Prime / central | €240k-€550k ($283k-$648k) | €2,900-€4,300 ($3,418-$5,069) | €269-€399 ($318-$471) |
| Vecrīga (Old Town) | Prime / prestige | €350k-€1.2M ($412k-$1.41M) | €3,000-€7,000 ($3,536-$8,251) | €279-€650 ($329-$767) |
How much more do you pay for properties in Latvia when you include renovation work, taxes, and fees?
The estimated total additional cost on top of the purchase price in Latvia in 2026 ranges from about 4% to 8% for a finished new-build, 6% to 12% for an existing home needing light updates, and 15% to 30% for an older property requiring significant renovation.
If you buy a property around $200,000 (approximately €170,000) in Latvia, you should expect to pay roughly €5,000 to €6,000 in fees and taxes (including the 1.5% Land Register fee and notary costs), plus €10,000 to €25,000 for medium renovation work if needed. That brings your total to around €185,000 to €201,000 ($218,000 to $237,000).
For a property around $500,000 (approximately €424,000) in Latvia, fees and taxes would run about €10,000 to €12,000, and if you're doing a quality renovation, budget another €35,000 to €70,000. Your all-in cost would be approximately €469,000 to €506,000 ($553,000 to $596,000).
For a property around $1,000,000 (approximately €848,000) in Latvia, expect fees and taxes of roughly €18,000 to €22,000, and high-spec renovation could add €70,000 to €120,000. Your total investment would be approximately €936,000 to €990,000 ($1,103,000 to $1,167,000).
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Latvia.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Latvia
| Expense | Category | Estimated Cost Range and Details |
|---|---|---|
| Land Register state fee | Tax/fee | Approximately 1.5% of the property value for individuals. This fee was reduced from 2% as of July 2024. For a €100,000 property, expect to pay around €1,500. |
| Notary and document handling | Legal | €150 to €600 ($180 to $710). This covers the preparation and certification of purchase documents. Costs vary based on transaction complexity and property value. |
| Land Register fixed charges | Admin | €20 to €100 ($24 to $118). These are small administrative fees for registry entries and document processing. They apply regardless of property value. |
| Real estate agent fee | Service | 0% to 3% of purchase price for the buyer. In Latvia, the seller often pays the agent fee, but this varies by deal. Confirm who pays before signing. |
| Light renovation | Renovation | €3,000 to €12,000 ($3,500 to $14,000). This covers painting, minor repairs, and cosmetic updates. Suitable for properties in decent condition needing freshening up. |
| Medium renovation | Renovation | €12,000 to €35,000 ($14,000 to $41,000). This includes partial kitchen or bathroom updates and some fixture replacements. Common for older apartments needing modernization. |
| Heavy renovation | Renovation | €35,000 to €120,000 ($41,000 to $141,000). This covers full system replacements, layout changes, and complete interior overhaul. Necessary for Soviet-era properties being brought to modern standards. |
We made this infographic to show you how property prices in Latvia compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Latvia in 2026 with different budgets?
With $100,000 (approximately €85,000) in Latvia as of January 2026, you could buy a 50 to 55 square meter standard 2-room apartment in Ķengarags (existing, average condition), a similar sized apartment in Imanta (existing, decent condition), or a smaller renovated apartment of 35 to 45 square meters in Āgenskalns.
With $200,000 (approximately €170,000) in Latvia, you could buy a new-build 2-room apartment of 55 to 65 square meters in a Riga residential district, a renovated pre-war apartment of 55 to 70 square meters on the edge of Centrs, or a small house of 90 to 120 square meters near Riga in areas like Salaspils needing light updates.
With $300,000 (approximately €255,000) in Latvia, you could buy a new-build 3-room apartment of 75 to 90 square meters in Teika, a renovated apartment of 80 to 100 square meters in Āgenskalns, or a family house of 120 to 160 square meters in the Pierīga suburb belt in good condition.
With $500,000 (approximately €424,000) in Latvia, you could buy a new-build centre apartment of 90 to 110 square meters in Centrs, a premium renovated apartment of 100 to 130 square meters in Mežaparks, or a high-quality detached house of 180 to 240 square meters in Mārupe or similar suburbs.
With $1,000,000 (approximately €848,000) in Latvia, you could buy a luxury apartment of 120 to 170 square meters in Old Town (Vecrīga) that's been fully renovated, a new-build luxury unit of 130 to 170 square meters in Centrs or Old Town, or a premium house of 250 to 400 square meters in Mežaparks with high-end finishes.
With $2,000,000 (approximately €1,700,000) in Latvia, the market is quite thin with few listings available, but you could potentially find a trophy penthouse of 180 to 250 square meters in Old Town, a landmark villa of 350 to 600 square meters in Mežaparks with a premium plot, or an ultra-prime new-build unit of 200 to 300 square meters in the top tier of a Centrs or Old Town project.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Latvia.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Latvia, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source Name | Why It's Authoritative | How We Used It |
|---|---|---|
| European Central Bank (ECB) | The ECB publishes the official daily exchange rate reference used across the European Union. | We used the ECB's EUR to USD reference rate from December 24, 2025 to convert all euro-denominated Latvian prices into US dollars throughout this article. |
| CSB Latvia (Central Statistical Bureau) | CSB Latvia is the country's official national statistics office and the authoritative publisher of inflation and macroeconomic data. | We used CSB's official inflation tables to calculate real (inflation-adjusted) price changes. We applied these adjustments especially for the high-inflation years of 2022 and 2023. |
| LSM (Latvian Public Media) | LSM is Latvia's public broadcaster and explicitly cites official House Price Index figures in its reporting. | We used LSM's reported HPI level versus 2015 to quantify the 10-year change in Latvian housing prices. We connected this national trend to Riga's on-the-ground pricing data. |
| ARCO Real Estate | ARCO is a long-established Baltic brokerage that publishes recurring market reports with consistent metrics over time. | We used ARCO's Riga housing estate price-per-square-meter data to build neighborhood ranges. We also used their typical 2-room apartment price bands as realistic buyer examples. |
| Ober-Haus | Ober-Haus is one of the best-known Baltic real estate firms and publishes annual multi-country reports with clear segment definitions. | We used Ober-Haus ranges for new-build pricing in Riga suburbs versus city centre and Old Town. We also used their luxury price-per-square-meter band for premium scenarios. |
| Likumi.lv (Latvia Legal Portal) | Likumi.lv is the official publication platform for all Latvian legal acts and regulations. | We used this source to verify the Land Register state fee structure and related registration costs. We converted these into simple percentage ranges for buyer planning. |
| Latvia Ministry of Justice | The Ministry of Justice oversees Land Books and provides official explanations of applicable fee changes. | We used this announcement to confirm the current 1.5% state fee for individuals. We referenced it to keep the taxes and fees section accurate and up to date. |
| ECB Statistical Data Warehouse | The ECB maintains comprehensive economic and financial statistics for all eurozone countries. | We cross-referenced ECB data to validate currency conversion rates and ensure consistency. We used historical rates to verify our inflation adjustment calculations. |
| CSB Latvia Housing Statistics | CSB publishes official housing construction and transaction statistics for Latvia. | We used housing stock composition data to estimate market breakdown by property type. We verified apartment versus house ratios against official building statistics. |
| ARCO Real Estate Quarterly Reports | ARCO publishes quarterly market overviews with consistent methodology allowing trend tracking. | We used multiple quarterly reports to identify supply dynamics and price trends. We tracked how low inventory in popular segments supports price stability. |
| Ober-Haus Baltic Market Reviews | Ober-Haus covers all three Baltic capitals with comparable methodology in each market. | We used their segment definitions for entry, typical, and luxury categories. We applied their new-build versus existing home price differentials to our premium calculations. |
| Latio Real Estate | Latio is another established Latvian real estate agency with market presence across property segments. | We cross-referenced Latio listing data to validate ARCO and Ober-Haus price ranges. We used their market commentary to understand buyer behavior patterns. |
| City Real Estate | City Real specializes in Riga property and provides neighborhood-specific market insights. | We used their local expertise to validate neighborhood characterizations. We confirmed expat-popular areas and their typical price positioning. |
| FKTK (Financial and Capital Market Commission) | FKTK is Latvia's financial regulator with oversight of mortgage lending practices. | We referenced FKTK data on mortgage market conditions to understand affordability constraints. We used this context to explain why price growth remains modest. |
| Bank of Latvia | The Bank of Latvia publishes financial stability reports including real estate market analysis. | We used central bank assessments to validate our market health characterizations. We referenced their price sustainability analysis in our trend discussions. |
| Ministry of Economics of Latvia | The Ministry provides economic forecasts and sector analysis including construction and housing. | We used ministry projections to contextualize housing supply trends. We referenced their analysis of new construction activity in our new versus old comparisons. |
| State Land Service of Latvia | The State Land Service maintains official property registration and cadastral data. | We referenced their transaction data methodology to understand how official prices are recorded. We used this to explain potential gaps between listed and actual prices. |
| SS.lv (Latvia Classifieds) | SS.lv is Latvia's largest online classifieds platform with extensive property listings. | We monitored listing prices across neighborhoods to validate market report ranges. We used listing volume patterns to assess market liquidity in different areas. |
| City24 Latvia | City24 is a major Baltic property portal aggregating listings from multiple agencies. | We used their search filters to verify price ranges by neighborhood and property type. We cross-checked asking prices against brokerage report data. |
| Eurostat | Eurostat provides harmonized statistics across EU member states including house price indices. | We used Eurostat's House Price Index data to benchmark Latvia against EU trends. We verified that local sources aligned with official European statistics. |
| Numbeo | Numbeo aggregates cost of living and property data from user submissions and official sources. | We used Numbeo as a secondary check on price-per-square-meter ranges. We compared their crowdsourced data against professional brokerage reports. |
| Global Property Guide | Global Property Guide provides international real estate market analysis and comparisons. | We referenced their Latvia market overview to ensure our findings were consistent with international assessments. We used their yield data to understand investor perspectives. |
| Riga City Council | Riga City Council publishes urban development plans and neighborhood statistics. | We used official city data to verify neighborhood boundaries and characteristics. We referenced development plans to understand which areas are attracting investment. |
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