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
Latvia's house market is essentially two markets in one: the Riga area drives the upper price spectrum while regional towns offer the most affordable options.
This guide breaks down what houses actually cost in Latvia in 2026, from entry-level budgets to premium coastal properties in Jurmala.
We constantly update this blog post to reflect the latest transaction data and market shifts.
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.
How much do houses cost in Latvia as of 2026?
What's the median and average house price in Latvia as of 2026?
As of early 2026, the median house price in Latvia sits at around 145,000 euros (roughly $152,000 or £121,000), while the average house price reaches approximately 185,000 euros ($194,000 or £154,000) because high-end properties in Riga and Jurmala pull the average upward.
The typical price range covering about 80% of house sales in Latvia falls between 70,000 euros and 350,000 euros ($73,000 to $367,000 or £58,000 to £292,000), which reflects the huge gap between affordable regional homes and premium suburban family houses.
The reason the median sits well below the average in Latvia is that a smaller number of expensive houses in Mezaparks, Jurmala, and Marupe push the average up, while most transactions happen at more modest price points in regional cities and older housing stock.
At the median price of 145,000 euros in Latvia, a buyer can typically expect a solid 3-bedroom house of around 100 to 120 square meters in the Pieriga commuting belt or a larger renovated house in regional cities like Jelgava or Valmiera.
What's the cheapest livable house budget in Latvia as of 2026?
As of early 2026, the minimum budget for a livable house anywhere in Latvia starts at around 40,000 to 50,000 euros ($42,000 to $52,000 or £33,000 to £42,000), though within commuting distance of Riga you should budget at least 90,000 euros ($94,000 or £75,000).
At this entry-level price point in Latvia, "livable" typically means an older house built before 1990 with basic amenities intact but likely needing insulation upgrades, new windows, and heating system improvements to keep winter bills manageable.
The cheapest livable houses in Latvia are usually found in smaller towns in Latgale region around Daugavpils and Rezekne, as well as inland areas of Zemgale and Kurzeme away from the coast where population has been declining and demand is lower.
Wondering what you can get? We cover all the buying opportunities at different budget levels in Latvia here.
How much do 2 and 3-bedroom houses cost in Latvia as of 2026?
As of early 2026, a typical 2-bedroom house (around 70 to 110 square meters) in Latvia costs between 95,000 and 180,000 euros ($100,000 to $189,000 or £79,000 to £150,000), while a 3-bedroom house (around 100 to 150 square meters) typically runs from 130,000 to 240,000 euros ($136,000 to $252,000 or £108,000 to £200,000).
For a 2-bedroom house in Latvia, the realistic price range spans from about 70,000 euros ($73,000 or £58,000) in regional cities like Liepaja or Valmiera up to 220,000 euros ($231,000 or £183,000) in desirable Pieriga suburbs near Riga.
For a 3-bedroom house in Latvia, buyers should expect to pay anywhere from 95,000 euros ($100,000 or £79,000) in regional areas to around 300,000 euros ($315,000 or £250,000) in sought-after commuter towns like Marupe or Jaunmarupe.
The typical price premium when moving from a 2-bedroom to a 3-bedroom house in Latvia runs between 35% and 45%, which reflects both the additional space and the fact that 3-bedroom houses tend to sit on slightly larger plots in more family-oriented locations.
How much do 4-bedroom houses cost in Latvia as of 2026?
As of early 2026, a typical 4-bedroom house (roughly 150 to 220 square meters) in Latvia costs between 230,000 and 420,000 euros ($241,000 to $441,000 or £192,000 to £350,000) in the Riga and Pieriga area, while regional cities offer similar sizes for 160,000 to 280,000 euros ($168,000 to $294,000 or £133,000 to £233,000).
For a 5-bedroom house in Latvia, the realistic price range runs from about 320,000 to 600,000 euros ($336,000 to $630,000 or £267,000 to £500,000) in the greater Riga area, with Jurmala coastal properties often starting above 400,000 euros.
For a 6-bedroom house or larger in Latvia, prices typically start at 450,000 euros ($472,000 or £375,000) and can exceed 900,000 euros ($945,000 or £750,000) for premium properties in Jurmala neighborhoods like Bulduri or Dzintari.
Please note that we give much more detailed data in our pack about the property market in Latvia.
How much do new-build houses cost in Latvia as of 2026?
As of early 2026, a typical new-build family house in Latvia's Pieriga commuter belt costs between 220,000 and 450,000 euros ($231,000 to $472,000 or £183,000 to £375,000), while new-build options in regional areas range from 160,000 to 320,000 euros ($168,000 to $336,000 or £133,000 to £267,000) where supply exists.
The typical percentage premium that new-build houses carry compared to older resale houses in Latvia runs between 15% and 30%, which buyers pay for modern insulation, energy-efficient heating systems, contemporary layouts, and fewer surprise repair bills in the first decade of ownership.
How much do houses with land cost in Latvia as of 2026?
As of early 2026, a typical house with a meaningful plot of land in Latvia costs between 180,000 and 400,000 euros ($189,000 to $420,000 or £150,000 to £333,000) in the Pieriga suburbs, while rural properties with larger plots can start from 60,000 euros ($63,000 or £50,000) in less-demanded regions.
In Latvia, a "house with land" typically means a plot of at least 1,000 to 2,000 square meters in suburban areas, while rural properties often come with 3,000 square meters or more, and the premium for extra land depends heavily on whether it is near the coast, lakes, or prime commuter corridors.
We cover everything there is to know about land prices in Latvia here.
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Where are houses cheapest and most expensive in Latvia as of 2026?
Which neighborhoods have the lowest house prices in Latvia as of 2026?
As of early 2026, the neighborhoods with the lowest house prices in Latvia include Bolderaja, Daugavgriva, and parts of Vecmilgravis in greater Riga, along with small towns throughout Latgale region around Daugavpils and Rezekne where prices are even lower.
The typical house price range in these cheapest neighborhoods spans from about 35,000 to 90,000 euros ($37,000 to $94,000 or £29,000 to £75,000), depending on house size and condition.
The main reason these neighborhoods have the lowest house prices in Latvia is a combination of industrial-era legacy (older Soviet-built housing stock, proximity to factories or ports), longer commutes to central Riga, and in Latgale's case, ongoing population decline as younger residents move to the capital for work.
Which neighborhoods have the highest house prices in Latvia as of 2026?
As of early 2026, the three neighborhoods with the highest house prices in Latvia are Mezaparks and Kipsala in Riga, plus the premium Jurmala coastal strip including Bulduri, Dzintari, and Majori.
The typical house price range in these most expensive neighborhoods runs from about 350,000 to 900,000 euros ($367,000 to $945,000 or £292,000 to £750,000), with trophy homes and waterfront properties exceeding one million euros.
The main reason these neighborhoods command the highest house prices in Latvia is their unique combination of mature greenery and prestige (Mezaparks), rare house supply in prime urban locations (Kipsala), and direct beach access with an established luxury lifestyle scene (Jurmala's golden mile).
The type of buyer who typically purchases houses in these premium Latvia neighborhoods includes senior executives at Baltic headquarters, successful entrepreneurs, international school families seeking proximity to ISL in Pinki, and second-home buyers from Scandinavia and Russia who value the coastal lifestyle.
How much do houses cost near the city center in Latvia as of 2026?
As of early 2026, a typical house near central Riga (in areas like Agenskalns, Teika edges, or the Mezaparks border where houses actually exist rather than the apartment-dominated Old Town) costs between 250,000 and 600,000 euros ($262,000 to $630,000 or £208,000 to £500,000).
Houses near major transit hubs in Latvia, particularly along the Riga-Jurmala corridor around Imanta and Babite or along the Riga-Ogre rail line around Salaspils, typically cost 5% to 15% more than comparable houses farther from convenient commuter routes.
Houses near top-rated international schools in Latvia, especially near the International School of Latvia (ISL) in Pinki, King's College School Latvia in Marupes novads, and International School of Riga (ISR), typically range from 250,000 to 500,000 euros ($262,000 to $525,000 or £208,000 to £417,000) for family-sized properties.
Houses in expat-popular areas of Latvia, including Mezaparks, Kipsala, Agenskalns in Riga, Jurmala's Bulduri and Dzintari, plus Marupe and Pinki suburbs, generally start around 280,000 euros ($294,000 or £233,000) and climb steeply based on size and renovation quality.
We actually have an updated expat guide for Latvia here.
How much do houses cost in the suburbs in Latvia as of 2026?
As of early 2026, a typical family house in Latvia's Pieriga suburbs (the main suburban market around Riga) costs between 180,000 and 350,000 euros ($189,000 to $367,000 or £150,000 to £292,000), with newer or larger houses in prime micro-locations reaching 350,000 to 500,000 euros or more.
The typical price difference between suburban houses and houses in Riga's house-friendly central districts runs about 25% to 40% lower in the suburbs, though premium suburbs like Marupe and Pinki can match or exceed some central Riga neighborhoods due to international school proximity and newer housing stock.
The most popular suburbs for house buyers in Latvia as of 2026 include Marupe and Jaunmarupe (close to the airport and schools), Pinki and Babite (international school cluster), Salaspils (good rail links), and Ogre (more affordable with improving amenities).
What areas in Latvia are improving and still affordable as of 2026?
As of early 2026, the top areas in Latvia that are improving yet still affordable for house buyers include Ogre (a commuter city with expanding amenities), Salaspils (strong rail access at lower prices than Marupe-side suburbs), and Jelgava (a larger regional city with services and better value than the Riga belt).
The current typical house price in these improving yet affordable Latvia areas ranges from about 120,000 to 220,000 euros ($126,000 to $231,000 or £100,000 to £183,000), offering meaningful savings compared to established premium suburbs.
The main sign of improvement driving buyer interest in these areas is infrastructure investment, specifically road upgrades connecting to Riga, new retail and service developments, and in Ogre's case, a growing reputation as a livable commuter town with its own character rather than just a bedroom community.
By the way, we've written a blog article detailing what are the current best areas to invest in property 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 extra costs should I budget for a house in Latvia right now?
What are typical buyer closing costs for houses in Latvia right now?
The estimated typical total closing cost for house buyers in Latvia runs between 2% and 3.5% of the purchase price, which can surprise foreign buyers who expect lower transaction fees.
The main closing cost categories in Latvia include the Land Register (Zemesgramata) state fee at about 1.5% of property value for individuals, regulated notary fees that scale with transaction value and document complexity, legal and technical due diligence (300 to 1,200 euros or $315 to $1,260), and translation or interpreter costs if needed (100 to 400 euros or $105 to $420).
The single largest closing cost category for house buyers in Latvia is usually the Land Register state fee at 1.5%, which was actually reduced from 2% in mid-2024 and applies when registering ownership in your name.
We cover all these costs and what are the strategies to minimize them in our property pack about Latvia.
How much are property taxes on houses in Latvia right now?
The estimated typical annual property tax on a house in Latvia depends on cadastral value and municipality, but for a mid-range family house with a cadastral value around 50,000 euros, expect to pay roughly 150 to 400 euros ($157 to $420 or £125 to £333) per year, with land taxed separately at up to 1.5% of cadastral value.
Property tax in Latvia is calculated using a tiered system on cadastral value: residential buildings pay 0.2% on the first bracket, 0.4% on the middle bracket, and 0.6% above the higher threshold, while municipalities set exact rates within this national framework.
If you want to go into more details, we also have a page with all the property taxes and fees in Latvia.
How much is home insurance for a house in Latvia right now?
The estimated typical annual home insurance cost for a house in Latvia ranges from about 150 to 450 euros ($157 to $472 or £125 to £375) for a modest house, rising to 400 to 900 euros ($420 to $945 or £333 to £750) or more for larger houses with higher rebuild values and broader coverage.
The main factors that affect home insurance premiums for houses in Latvia include the rebuild value of the property, the type of heating system (wood stoves carry higher risk than central heating), security features like alarms, claims history, and whether you add coverage for outbuildings or flooding.
What are typical utility costs for a house in Latvia right now?
The estimated typical total monthly utility cost for a house in Latvia averages between 250 and 500 euros ($262 to $525 or £208 to £417) across the year, with winter months spiking significantly higher for poorly insulated homes due to heating demands.
The main utility categories for houses in Latvia include heating (the biggest variable, especially for older houses without modern insulation), electricity (which saw policy changes in January 2026 affecting some household bills), water and sewage, waste collection, and internet, with heating often accounting for 50% or more of total utility costs during the November-to-March period.
What are common hidden costs when buying a house in Latvia right now?
The estimated total of common hidden costs that house buyers in Latvia often overlook can easily add 5,000 to 20,000 euros ($5,250 to $21,000 or £4,170 to £16,670) or more to the actual cost of purchase, depending on the property's age and condition.
Typical inspection fees buyers should expect when purchasing a house in Latvia range from about 150 to 400 euros ($157 to $420 or £125 to £333) for a basic property inspection, rising to 300 to 900 euros ($315 to $945 or £250 to £750) if you add specialist checks for roofing, heating systems, or thermal imaging to detect moisture problems.
Other common hidden costs beyond inspections when buying a house in Latvia include energy and insulation upgrades (older houses can be expensive to heat), roof and drainage repairs, septic system or well maintenance for rural properties, boundary or easement issues, and paperwork costs to regularize any unregistered outbuildings or modifications.
The hidden cost that tends to surprise first-time house buyers the most in Latvia is heating-related: the combination of poor insulation in pre-1990 houses and high winter energy bills means the "cheap" house often becomes expensive to live in unless you budget for insulation improvements.
You will find here the list of classic mistakes people make when buying a property in Latvia.
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What do locals and expats say about the market in Latvia as of 2026?
Do people think houses are overpriced in Latvia as of 2026?
As of early 2026, sentiment among locals and expats in Latvia is split: people shopping for houses in prime Riga suburbs and Jurmala often complain about pricing, while those looking at regional cities or renovation projects feel they have more negotiating power.
Houses in Latvia typically stay on the market for anywhere from a few weeks (for well-priced, move-in-ready family homes in the Riga commuter belt) to several months (for quirky properties, overpriced listings, or houses needing significant renovation work).
The main reason locals and expats give for feeling house prices are high in Latvia's prime areas is the mismatch between limited supply of quality family houses in good school catchments and steady demand from both local upgraders and international families, while those who see fair value point to Latvia remaining much cheaper than Western Europe.
Compared to one or two years ago, current sentiment on house prices in Latvia feels more cautious and selective: the peak-boom urgency has faded, financing conditions have tightened, and buyers are more willing to wait for the right property rather than stretch their budgets.
You'll find our latest property market analysis about Latvia here.
Are prices still rising or cooling in Latvia as of 2026?
As of early 2026, house prices in Latvia are neither booming nor crashing but rather moving selectively: prime locations still see modest upward pressure while less-demanded areas and overpriced properties experience flat or slightly softening prices.
The estimated year-over-year house price change in Latvia sits in the low single digits, roughly 2% to 5% depending on segment, with new-build houses holding value better than older stock that needs renovation.
Experts and locals expect house prices in Latvia over the next 6 to 12 months to remain stable to slightly positive in prime areas, while regional markets may see continued softness unless interest rates ease or economic confidence improves significantly.
Finally, please note that we have covered property price trends and forecasts for Latvia here.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Latvia. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
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 | Why it's authoritative | How we used it |
|---|---|---|
| State Land Service (VZD) | Latvia's official land registry publishing transaction-based market statistics. | We used VZD's charts to anchor real paid prices for houses rather than listing prices. We then adjusted these to early 2026 using market direction from other reports. |
| Central Statistical Bureau (CSB) | Latvia's official statistics authority producing the standard house price index. | We used CSB's index to adjust 2024 transaction levels toward early 2026 pricing. We also used the new versus existing split to validate new-build premiums. |
| Ober-Haus | Major Baltic real estate firm with transparent, long-running research. | We used Ober-Haus for context on market momentum and credit conditions. We cross-checked that our price direction matches their Baltic-level narrative. |
| Colliers Baltic | Global consultancy producing dated, professional market reports. | We used their Q4 2025 report as an early 2026 macro pulse-check. We avoided over-extrapolating single-year swings by triangulating with their commentary. |
| Ministry of Justice (Latvia) | Official government source explaining the Land Register fee reduction. | We used this to state the key buyer closing cost accurately. We built the closing cost section with this concrete percentage. |
| Likumi.lv | Official portal for Latvian laws and regulations. | We used it to verify the Ministry of Justice summary with actual legal text. We kept closing-cost guidance verifiable rather than blog-based. |
| Ministry of Finance (Latvia) | National finance ministry explaining the property tax framework. | We used it to explain how municipalities set rates within national brackets. We framed why property tax bills vary by location and cadastral value. |
| LV Portals | Respected public information portal citing underlying law clearly. | We used it to present residential tax brackets in plain language. We translated legal structure into practical "what you'll pay" guidance. |
| State Language Centre (VVC) | Official English publication of Latvian regulations. | We used it to confirm that notary fees are regulated by law. We explained why notary costs scale with transaction complexity. |
| Public Utilities Commission (SPRK) | Latvia's utilities regulator and tariff reference authority. | We used SPRK as the anchor for regulated utility cost context. We grounded the utilities section in official regulation rather than anecdotes. |
| LSM (Latvian Public Media) | Public broadcaster citing the distribution company Sadales tikls. | We used it to make the early 2026 utilities section time-accurate. We avoided outdated assumptions about household electricity bills. |
| International School of Latvia | Official school site confirming campus location in Pinki. | We used it to name a real international school cluster affecting housing demand. We justified why Pinki-area houses often price at a premium. |
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