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As of 2026, housing prices in Latvia are still rising, but the Latvia property market remains affordable compared with many other EU countries.
In this article, we explain the current housing prices in Latvia, using the latest data we could collect and double check.
We constantly update this blog post so the numbers stay useful for buyers who want fresh Latvia real estate data.
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
- The average housing price in Latvia in 2026 is around €125,000, but the median is closer to €82,000 because many regional apartments remain much cheaper.
- Latvia property prices are not one market. Riga, Pierīga and Jūrmala pull the average up, while Latgale and smaller towns keep the national median low.
- A buyer with about $100,000 can still find real options in Latvia in 2026, but mostly in older apartments or outside premium Riga areas.
- Riga new-build apartments usually cost much more than older resale flats, often by about 45% to 70% per square metre.
- Standard Soviet-era apartments remain one of the most liquid parts of the Latvia housing market, especially in Riga districts such as Ķengarags, Imanta and Bolderāja.
- Listing prices in Latvia are often negotiable. A realistic buyer should expect final sale prices to be around 6% below asking prices on average.
- Renovation risk is a major price divider in Latvia. Two apartments in the same Riga district can have very different values if one needs full works.
- For most resale purchases in Latvia, buyers should budget 6% to 18% above the purchase price for fees, taxes, bank costs and light works.
- Luxury housing in Latvia is thin but real. The strongest luxury areas are Riga Quiet Centre, Old Town, Jūrmala and Mežaparks.
What is the average housing price in Latvia in 2026?
The median housing price in Latvia in 2026 is often more useful than the average because the average is pushed up by expensive Riga, Jūrmala and premium coastal homes.
We are writing this as of 2026, using the latest data collected from authoritative sources that we manually double checked.
The median housing price in Latvia in 2026 is about €82,000, which is about $94,900, while the average housing price in Latvia in 2026 is about €125,000, which is about $144,700.
For about 80% of residential properties in Latvia in 2026, a realistic price range is roughly €35,000 to €320,000, or about $40,500 to $370,300.
A realistic entry range in Latvia in 2026 is about €45,000 to €75,000, or about $52,100 to $86,800, which can buy an older 45 to 60 square metre apartment in Daugavpils, Rēzekne, Liepāja outskirts, Bolderāja or Ķengarags.
A typical luxury property in Latvia in 2026 costs around €600,000 to €1,500,000, or about $694,400 to $1,735,900, which can buy a renovated large apartment in Riga Quiet Centre, a premium Skanste apartment, or a villa in Jūrmala or Mežaparks.
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?
In Latvia in 2026, actual sale prices are usually about 6% lower than listing prices on average.
The gap exists because many sellers still start with hopeful asking prices, especially for Riga centre flats, large houses and homes needing renovation. The gap is usually smallest for good new-build apartments in Riga or Jūrmala, and largest for older, overpriced or renovation-heavy properties.
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What is the price per sq m or per sq ft for properties in Latvia in 2026?
As of 2026, the median housing price in Latvia is about €1,150 per square metre, or about $1,331 per square metre, which is about €107 per square foot, or about $124 per square foot. The average housing price in Latvia is about €1,450 per square metre, or about $1,678 per square metre, which is about €135 per square foot, or about $156 per square foot.
The highest prices per square metre in Latvia in 2026 are usually for small premium apartments, renovated pre-war apartments and new-build homes in Riga Centre, Quiet Centre, Skanste, Old Town and Jūrmala, while the lowest prices are for large unrenovated Soviet-era apartments and older regional homes that need serious work.
The highest price per square metre in Latvia in 2026 is usually found in Jūrmala prime areas and Riga trophy locations, where prices can reach about €3,500 to €7,000+ per square metre. The lowest range is usually found in lower-cost regional cities and older stock, where many homes sit around €500 to €900 per square metre.
How have property prices evolved in Latvia?
Compared with one year ago, property prices in Latvia in 2026 are about 8% higher in nominal terms, or about 5% higher after inflation. The increase comes from lower financing pressure and a limited supply of renovated, energy-efficient homes in good locations.
Compared with two years ago, Latvia housing prices in 2026 are roughly 15% to 20% higher in nominal terms. The rise is not even across the country, because the strongest demand is still in Riga, Pierīga, Jūrmala and better-quality apartments.
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.
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How do prices vary by housing type in Latvia in 2026?
In Latvia in 2026, the residential market is roughly 70% apartments, 18% detached houses, 7% new-build apartments, 3% row houses and 2% villas or luxury houses, because Latvia is strongly apartment-led and Riga standard flats remain very active.
A standard existing apartment in Latvia in 2026 costs around €75,000, or about $86,800, while a renovated older apartment is closer to €135,000, or about $156,200. A new-build apartment is around €185,000, or about $214,100, a detached house is around €210,000, or about $243,000, a townhouse is around €230,000, or about $266,200, and a luxury villa is around €850,000, or about $983,700.
If you want to know more, you should read our dedicated analyses:
How do property prices compare between existing and new homes in Latvia in 2026?
In Latvia in 2026, a new-build apartment usually costs about 45% to 70% more per square metre than a comparable older resale apartment, with a central estimate near 55%.
This premium exists because new homes in Latvia usually offer better energy efficiency, lower repair risk, parking, storage and modern layouts, while older homes often need extra renovation money after purchase.
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How do property prices vary by neighborhood in Latvia in 2026?
Riga Centre and Quiet Centre are among the most expensive areas in Latvia in 2026, with many renovated pre-war apartments and premium homes ranging from about €140,000 to €700,000, or about $162,000 to $810,000. Prices are high because these areas are walkable, central and attractive to expats, diplomats and higher-income local buyers.
Skanste is a newer and more modern Riga area, where many homes are new-build apartments costing around €170,000 to €500,000, or about $197,000 to $579,000. Prices are high because buyers pay for modern buildings, parking, offices nearby and better energy performance.
Jūrmala is Latvia’s main coastal luxury market, where apartments, houses and villas often range from about €220,000 to €1,500,000, or about $255,000 to $1,736,000. Prices are higher because good coastal homes are scarce, lifestyle demand is strong and the area has long attracted wealthier buyers.
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:
| Area in Latvia | Market label | Typical total price | Typical price per m² | Typical price per ft² |
|---|---|---|---|---|
| Daugavpils centre | Entry and regional value | €30k to €85k $35k to $98k |
€500 to €850 $579 to $984 |
€46 to €79 $54 to $91 |
| Liepāja residential areas | Coastal value | €55k to €160k $64k to $185k |
€850 to €1,350 $984 to $1,563 |
€79 to €125 $91 to $145 |
| Jelgava | Commute and family | €60k to €170k $69k to $197k |
€850 to €1,400 $984 to $1,620 |
€79 to €130 $91 to $151 |
| Ķengarags, Riga | Affordable Riga | €55k to €125k $64k to $145k |
€850 to €1,250 $984 to $1,447 |
€79 to €116 $91 to $134 |
| Bolderāja, Riga | Lowest-cost Riga | €45k to €110k $52k to $127k |
€750 to €1,100 $868 to $1,273 |
€70 to €102 $81 to $118 |
| Imanta, Riga | Family and practical | €70k to €180k $81k to $208k |
€1,000 to €1,600 $1,157 to $1,852 |
€93 to €149 $108 to $172 |
| Teika, Riga | Commute and family | €100k to €240k $116k to $278k |
€1,400 to €2,300 $1,620 to $2,662 |
€130 to €214 $151 to $247 |
| Āgenskalns, Riga | Popular lifestyle area | €110k to €280k $127k to $324k |
€1,500 to €2,600 $1,736 to $3,009 |
€139 to €242 $161 to $280 |
| Riga Centre | Central and expat-friendly | €140k to €450k $162k to $521k |
€1,800 to €3,800 $2,083 to $4,398 |
€167 to €353 $194 to $409 |
| Quiet Centre, Riga | Premium and diplomatic | €220k to €700k $255k to $810k |
€2,500 to €4,800 $2,893 to $5,555 |
€232 to €446 $269 to $516 |
| Skanste, Riga | New-build and professional | €170k to €500k $197k to $579k |
€2,400 to €4,200 $2,778 to $4,861 |
€223 to €390 $258 to $452 |
| Jūrmala | Luxury coastal market | €220k to €1.5m $255k to $1.736m |
€2,200 to €7,000+ $2,546 to $8,101+ |
€204 to €650+ $237 to $753+ |
How much more do you pay for properties in Latvia when you include renovation work, taxes, and fees?
In Latvia in 2026, a normal resale buyer should budget about 6% to 18% above the purchase price, while an old home needing full renovation can require 25% to 45% more.
For a property bought around $200,000, or about €172,800, a careful buyer in Latvia should often add about €15,000 to €35,000 for taxes, notary, legal checks, bank costs and moderate works. That means the total budget can land near €188,000 to €208,000, or about $218,000 to $241,000.
For a property bought around $500,000, or about €432,000, extra costs in Latvia can often add about €35,000 to €90,000 if renovation or furnishing is needed. That brings the full budget to around €467,000 to €522,000, or about $540,000 to $604,000.
For a property bought around $1,000,000, or about €864,000, the extra costs can easily reach €70,000 to €180,000, especially for legal work, fit-out, energy upgrades or premium renovations. The final budget can therefore be around €934,000 to €1,044,000, or about $1,081,000 to $1,208,000.
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
| Extra cost | Type | Estimated cost in Latvia in 2026 |
|---|---|---|
| Land Register and ownership registration state fee | Tax and registration | Use about 1.5% of the property value for a typical individual purchase. On a €200,000 property, that is around €3,000, or about $3,500. |
| Notary and document certification | Fees | Usually about €150 to €600, or about $174 to $694. The final amount depends on the documents, the transaction structure and whether extra certification is needed. |
| Legal due diligence | Fees | Usually about €500 to €2,500, or about $579 to $2,893. This is useful when buying older homes, houses, land, inherited property or anything with unclear rights. |
| Bank valuation | Financing fee | Usually about €150 to €400, or about $174 to $463. Banks often request a valuation before confirming the mortgage amount. |
| Mortgage arrangement and bank costs | Financing fee | Often about 0.5% to 1.0% of the loan amount. For a €150,000 loan, this can mean about €750 to €1,500, or about $868 to $1,736. |
| Agent fee, if buyer-paid or shared | Transaction cost | Often 0% to 3% of the price. In some Latvia transactions the seller pays, but a buyer should still check the agreement before making an offer. |
| Light renovation | Renovation | Often about €150 to €300 per square metre, or about $174 to $347 per square metre. This can cover paint, small repairs, basic flooring and simple cosmetic works. |
| Full apartment renovation | Renovation | Often about €450 to €900 per square metre, or about $521 to $1,042 per square metre. This can include wiring, plumbing, floors, kitchen, bathroom and heating-related works. |
| House modernization and energy works | Renovation | Often about €700 to €1,500 per square metre, or about $810 to $1,736 per square metre. Older houses can cost more if insulation, roof, windows or heating systems need work. |
| Furniture and appliances | Fit-out | Often about €5,000 to €25,000, or about $5,800 to $28,900. The lower end fits small apartments, while larger homes or premium rentals need more. |
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, or about €86,400, a buyer in Latvia in 2026 can look at an existing 50 to 55 square metre standard apartment in Ķengarags or Imanta, an existing 60 to 70 square metre apartment in Daugavpils or Rēzekne, or an existing 40 to 50 square metre apartment in Liepāja or Jelgava.
With $200,000, or about €172,800, a buyer in Latvia in 2026 can look at an existing 65 to 80 square metre renovated apartment in Āgenskalns or Teika, a new or recent 50 to 60 square metre apartment in outer Riga or Pierīga, or a small existing family house near Jelgava, Ogre or a lower-cost Pierīga location.
With $300,000, or about €259,200, a buyer in Latvia in 2026 can look at a new-build 65 to 80 square metre apartment in Skanste, Teika or another good Riga area, a renovated 80 to 100 square metre apartment in Riga Centre, or a detached 130 to 170 square metre family house in Mārupe, Ādaži, Ogre or Pierīga.
With $500,000, or about €432,000, a buyer in Latvia in 2026 can look at a premium 100 to 130 square metre apartment in Riga Quiet Centre, a large 100 to 140 square metre new-build apartment in Skanste or central Riga, or a good 180 to 230 square metre detached house in Mārupe, Mežaparks fringe or a non-prime part of Jūrmala.
With $1,000,000, or about €864,000, a buyer in Latvia in 2026 can look at a 150 to 220 square metre luxury apartment in Riga Quiet Centre or Old Town, a 220 to 320 square metre high-end villa in Mežaparks or Jūrmala, or a premium coastal apartment or townhouse in Jūrmala.
With $2,000,000, or about €1,728,000, a buyer in Latvia in 2026 is in a thin trophy-property market, but can look at a prime 300 to 500 square metre villa in Jūrmala, a 250 to 350 square metre landmark apartment or penthouse in Riga Quiet Centre or Old Town, or a large premium estate in Mežaparks or a top Pierīga location.
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 used | Why this source is useful | How we used it |
|---|---|---|
| Central Statistical Bureau of Latvia, House Price Index | This is Latvia’s official statistics agency, so it is the strongest source for national house price index data. | We used it to anchor the national price-growth trend through Q4 2025. We also used the split between total, new and existing dwellings to avoid relying only on asking prices. |
| LSM English summary of CSB data | LSM is Latvia’s public broadcaster and its article directly explains the official CSB housing data. | We used it to cross-check the Q4 2025 annual and quarterly changes in plain language. We treated it as a secondary explanation, not as a standalone pricing source. |
| BIS real residential property prices via FRED | BIS data, shown through the St. Louis Fed, is widely used for international real house-price comparisons. | We used it to understand inflation-adjusted property performance in Latvia. We used the real index to separate price gains from general inflation. |
| Eurostat House Price Index | Eurostat harmonizes house-price data across EU countries, which makes Latvia easier to compare with other markets. | We used it as a European cross-check for Latvia’s official HPI direction. We did not use it for neighborhood-level prices. |
| ECB euro foreign exchange reference rates | The ECB publishes official euro reference rates against major currencies. | We used it to convert euro prices into US dollars. We used the 9 June 2026 rate of €1 = $1.1573. |
| Colliers Riga Residential Market Report 2025 | Colliers is a major international real estate consultancy with local Baltic research coverage. | We used it to understand Riga-region primary-market transactions and new-build direction. We cross-checked Colliers with Latio and ARCO because Colliers focuses more on primary apartments. |
| Latio housing-market reports and market analysis | Latio is an established Latvian real estate agency that publishes recurring local market analysis. | We used it for Riga segment pricing, buyer behavior and listing-versus-transaction gaps. We treated it as private-sector evidence and checked it against official and other market sources. |
| Latio Home Buyers Index, April 2024 | This Latio dataset gives a useful example of asking prices versus transaction prices in the Riga new-project market. | We used it to support the estimate that actual sale prices are often below asking prices. We did not apply the April 2024 gap mechanically to every 2026 property. |
| ARCO Real Estate standard-type apartment overview | ARCO is a long-running Baltic real estate firm with recurring Riga standard-apartment tracking. | We used it to benchmark Soviet-era and standard Riga apartment prices. We did not use it for luxury homes or new-build estimates because that is not its main focus. |
| CEIC Riga average apartment price data | CEIC aggregates economic and real estate indicators and is useful for checking price series. | We used it as a supporting check for Riga average apartment prices per square metre. We did not rely on it alone because it covers a specific apartment-price series. |
| Likumi.lv Land Register fee regulation | Likumi.lv is Latvia’s official legal-act portal, so it is the right place to check official fee rules. | We used it to estimate buyer-side registration costs. We combined that official rule with practical cost estimates for notary, bank, legal and renovation expenses. |
| Latvia Land Register Law | This official law explains why registration is central to property ownership in Latvia. | We used it to explain the legal role of the Land Register in Latvia property purchases. We used the fee regulation separately to estimate the practical cost. |
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