Authored by the expert who managed and guided the team behind the Latvia Property Pack
Yes, the analysis of Riga's property market is included in our pack
This article covers everything you need to know about current housing prices in Riga, from median values to neighborhood breakdowns.
We update this blog post regularly to reflect the latest market data and trends in Riga's real estate market.
Whether you're a first-time buyer or looking for a luxury property, you'll find concrete price ranges and examples here.
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 Riga.
Insights
- The gap between Riga's cheapest district (Bolderaja at around 670 euros per sqm) and prime Centre locations (around 3,500 euros per sqm) represents more than a 5x price difference within the same city.
- New-build apartments in Riga typically sell for about 11% below their listed price, while standard Soviet-era apartments only negotiate down by around 4%, making older stock surprisingly firm on pricing.
- Riga housing prices have risen roughly 55% over the past decade in nominal terms, but after adjusting for Latvia's 52% inflation, real price growth has been just 2% over ten years.
- Around 55% of Riga's housing market consists of Soviet-era standard apartments, which explains why the citywide median price sits well below what many new arrivals expect from a European capital.
- The price premium for new construction versus comparable older stock in Riga runs at about 35%, driven mainly by energy efficiency gains and modern amenities like elevators and parking.
- Buyers in Riga should budget an extra 3% to 6% for taxes and fees on top of the purchase price, or 15% to 35% more if the property needs renovation work.
- Teika tops ARCO's standard apartment rankings at around 1,080 euros per sqm, making it the most expensive neighborhood for Soviet-era housing stock in Riga.
- Agenskalns has become a favorite among expats in Riga because it combines pre-war charm with prices that remain 40% to 50% below the central business district.
What is the average housing price in Riga in 2026?
The median housing price gives you a better picture of what most buyers actually pay in Riga because it isn't skewed upward by a handful of expensive penthouses and luxury new builds the way the average is.
We are writing this as of the first half of 2026 using the latest data collected from authoritative sources including ARCO Real Estate and Latio market reports, which we manually cross-checked against official statistics.
The median home price in Riga in 2026 is approximately 115,000 euros (around 135,600 dollars or 115,000 euros), while the average home price sits higher at about 160,000 euros (around 188,600 dollars or 160,000 euros). The average is pulled up by expensive new-build projects and premium properties in central Riga neighborhoods.
About 80% of residential properties in Riga in 2026 fall within a price range of 60,000 to 260,000 euros (roughly 70,700 to 306,500 dollars).
A realistic entry-level budget in Riga starts at 35,000 to 60,000 euros (41,300 to 70,700 dollars), which can get you a one-bedroom or small two-room Soviet-era apartment of 35 to 45 sqm in an outer district like Bolderaja.
Luxury properties in Riga in 2026 typically range from 450,000 to 1,500,000 euros (530,000 to 1,770,000 dollars), covering large renovated pre-war apartments or high-end new-build penthouses of 120 to 200 sqm in prime locations like Centre, Kipsala, or Mezaparks.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Riga.
Are Riga property listing prices close to the actual sale price in 2026?
In Riga in 2026, standard apartments typically close at about 4% below the listing price, while new-build projects see a larger gap of around 11% between advertised and final transaction prices.
The difference exists because new developments in Riga often list at aspirational prices and have more room for negotiation, especially when developers want to move inventory. Standard Soviet-era apartments have tighter price discovery since comparable sales are plentiful, but the gap widens significantly in the new-build segment where each project competes on amenities and location premiums.
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What is the price per sq m or per sq ft for properties in Riga in 2026?
As of early 2026, the median housing price in Riga is approximately 1,450 euros per sqm (around 1,710 dollars per sqm or 135 euros per sqft), while the average price sits at about 1,800 euros per sqm (around 2,120 dollars per sqm or 167 euros per sqft). The average is higher because it includes premium new builds and central renovated properties that command significantly more per square meter.
In Riga in 2026, smaller apartments like studios and one-bedrooms in prime central areas tend to have the highest price per sqm, while large unrenovated apartments in outer districts like Bolderaja have the lowest because buyers factor in renovation costs and lower demand intensity.
The highest prices per sqm in Riga are found in Centre and Skanste at around 2,600 to 3,800 euros per sqm for new builds and premium renovated stock. The lowest prices appear in Bolderaja at roughly 670 to 750 euros per sqm for standard apartments.
How have property prices evolved in Riga?
Compared to one year ago (January 2025), housing prices in Riga have increased by about 4% in nominal terms, or roughly 1% after accounting for inflation. This modest growth came from tighter supply of good-condition affordable apartments and new-build projects holding firm on their pricing despite some discounting.
Looking back ten years to January 2016, Riga housing prices have risen approximately 55% in nominal euro terms. However, after adjusting for Latvia's cumulative inflation of about 52% over the same period, real price growth has been only around 2%, meaning most of the gains simply kept pace with the rising cost of living.
By the way, we've written a blog article detailing the latest updates on property price variations in Riga.
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 Riga.
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.
How do prices vary by housing type in Riga in 2026?
The Riga housing market in 2026 breaks down to approximately 55% Soviet-era standard apartments, 20% new-build apartments, 15% renovated pre-war apartments, 8% detached houses, and 2% townhouses and other types, reflecting the city's legacy of large-scale apartment construction during the Soviet period.
Average prices by property type in Riga as of the first half of 2026 are: standard Soviet-era apartments at around 75,000 euros (88,000 dollars), renovated pre-war apartments at about 155,000 euros (183,000 dollars), typical new-build apartments at approximately 210,000 euros (248,000 dollars), premium new-build or exclusive projects starting from 450,000 euros (530,000 dollars), detached houses at around 260,000 euros (306,000 dollars), and townhouses at about 230,000 euros (271,000 dollars).
If you want to know more, you should read our dedicated analyses:
- How much do properties cost in Riga?
- How much should you pay for an apartment in Riga?
- How much should you pay for a studio in Riga?
How do property prices compare between existing and new homes in Riga in 2026?
New-build properties in Riga in 2026 typically cost about 35% more per square meter than comparable existing homes in the same area.
This premium reflects the energy efficiency of new construction (which means lower utility bills), modern amenities like elevators and underground parking, better layouts, and the peace of mind that comes with warranties and newer building systems that won't need repairs for years.
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How do property prices vary by neighborhood in Riga in 2026?
In Centre and Skanste, you'll find Riga's most expensive real estate, dominated by renovated pre-war apartments and premium new-build projects. Prices here range from 220,000 to over 600,000 euros (259,000 to 707,000 dollars) because of the walkability, proximity to offices and cultural venues, and the prestige of living in the heart of the Latvian capital.
Agenskalns has become popular among expats and young professionals looking for character at lower prices than the Centre. This left-bank neighborhood offers renovated historical apartments and some newer infill projects at 140,000 to 260,000 euros (165,000 to 306,000 dollars), attracting buyers with its charming streets, parks, and strong community feel.
Teika and Mezaparks represent Riga's family-friendly premium suburbs, with good schools, green spaces, and a calmer atmosphere while still being well connected to the centre. Prices range from 120,000 to 350,000 euros (141,000 to 413,000 dollars), covering everything from top-tier Soviet-era stock to new-build family apartments.
You will find a much more detailed analysis by areas in our property pack about Riga. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Profile | Price Range | Per sqm | Per sqft |
|---|---|---|---|---|
| Bolderaja | Budget / Value | 35k-65k euros ($41k-$77k) | 670-750 euros ($790-$885) | 62-70 euros ($73-$82) |
| Vecmilgravis | Budget / Commute | 45k-80k euros ($53k-$94k) | 700-820 euros ($825-$965) | 65-76 euros ($77-$90) |
| Kengarags | Budget / Commute | 50k-90k euros ($59k-$106k) | 820-950 euros ($965-$1,120) | 76-88 euros ($90-$104) |
| Jugla | Family / Green | 55k-100k euros ($65k-$118k) | 860-1,000 euros ($1,015-$1,180) | 80-93 euros ($94-$110) |
| Ilguciems | Value / Improving | 55k-105k euros ($65k-$124k) | 850-980 euros ($1,000-$1,155) | 79-91 euros ($93-$107) |
| Plavnieki | Value / Popular | 60k-115k euros ($71k-$136k) | 900-1,000 euros ($1,060-$1,180) | 84-93 euros ($98-$110) |
| Purvciems | Popular / Commute | 65k-125k euros ($77k-$147k) | 920-1,050 euros ($1,085-$1,240) | 85-98 euros ($100-$115) |
| Imanta | Popular / Family | 70k-140k euros ($83k-$165k) | 910-1,050 euros ($1,070-$1,240) | 85-98 euros ($99-$115) |
| Zolitude | Commute / Value | 70k-135k euros ($83k-$159k) | 930-1,070 euros ($1,095-$1,260) | 86-99 euros ($102-$117) |
| Agenskalns | Expat / Charm | 140k-260k euros ($165k-$306k) | 1,000-2,200 euros ($1,180-$2,595) | 93-204 euros ($110-$241) |
| Teika | Family / Premium | 120k-240k euros ($141k-$283k) | 1,050-2,300 euros ($1,240-$2,710) | 98-214 euros ($115-$252) |
| Centre + Skanste | Prime / Walkable | 220k-600k+ euros ($259k-$707k+) | 2,600-3,800 euros ($3,065-$4,480) | 242-353 euros ($285-$416) |
How much more do you pay for properties in Riga when you include renovation work, taxes, and fees?
When buying a move-in-ready home in Riga in 2026, expect to add about 3% to 6% on top of the purchase price for taxes and fees, or 15% to 35% more if you're buying a fixer-upper that needs renovation.
For a property around 200,000 dollars (about 170,000 euros) in Riga, buyer-side fees and taxes would add approximately 6,800 to 10,200 euros (8,000 to 12,000 dollars). If the property needs light renovation, add another 10,000 to 20,000 euros, bringing your total investment to roughly 187,000 to 200,000 euros (220,000 to 236,000 dollars).
For a property around 500,000 dollars (about 424,000 euros) in Riga, expect fees and taxes of approximately 17,000 to 25,000 euros (20,000 to 29,500 dollars). A premium property at this level likely needs minimal work, so your all-in cost would be around 441,000 to 460,000 euros (520,000 to 542,000 dollars).
For a property around 1,000,000 dollars (about 848,000 euros) in Riga, fees and taxes would run approximately 34,000 to 51,000 euros (40,000 to 60,000 dollars). At this price point you're likely buying new or fully renovated, so total cost would be roughly 882,000 to 910,000 euros (1,040,000 to 1,072,000 dollars).
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Riga
| Expense | Category | Estimated Cost and Details |
|---|---|---|
| Land Register registration fee | Fee | Around 1.5% of the property value (roughly 1,500 euros per 100,000 euros of purchase price). This is a government fee required to officially register your ownership in Latvia's Land Register. The exact percentage depends on whether the base is the purchase price or cadastral value. |
| Land Book stamp duties and admin fees | Fee | Around 0.5% to 2% plus small fixed charges depending on your specific situation. These are additional administrative costs for processing the registration paperwork. The total varies based on transaction complexity and property type. |
| Notary and legal drafting | Fee | Between 300 and 1,500 euros ($350 to $1,770). Notary fees cover the preparation and certification of the purchase agreement. More complex transactions or higher-value properties typically cost more. |
| Bank mortgage arrangement | Fee | Between 300 and 1,000 euros ($350 to $1,180) if you're financing the purchase. This covers the bank's administrative costs for processing your mortgage application. Cash buyers can skip this expense entirely. |
| Technical inspection or survey | Due diligence | Between 150 and 600 euros ($180 to $710). A professional inspection helps identify any structural issues or needed repairs before you commit to buying. This is especially important for older Soviet-era buildings. |
| Light renovation | Renovation | Around 300 to 600 euros per sqm ($355 to $710 per sqm). Light renovation includes cosmetic updates like painting, new flooring, and basic kitchen or bathroom refreshes. A 50 sqm apartment would cost 15,000 to 30,000 euros. |
| Full renovation | Renovation | Around 700 to 1,200 euros per sqm ($825 to $1,415 per sqm). Full renovation means replacing electrical systems, plumbing, and complete interior rebuilding. A 50 sqm apartment would cost 35,000 to 60,000 euros. |
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 Riga in 2026 with different budgets?
With 100,000 dollars (about 85,000 euros) in Riga in January 2026, you could buy a two-room standard apartment of around 50 sqm in Kengarags, a two-room apartment of about 48 sqm in decent condition in Purvciems, or a small one to two-bedroom apartment of 40 to 45 sqm in Vecmilgravis that needs some refreshing.
With 200,000 dollars (about 170,000 euros), you could buy a renovated pre-war two-bedroom apartment of around 70 sqm in Agenskalns, a new-build two-room apartment of 55 to 60 sqm in Teika, or a renovated two-bedroom of about 65 sqm near the Centre fringe but not on a prime street.
With 300,000 dollars (about 255,000 euros), you could buy a new-build two-bedroom apartment of 75 to 85 sqm in Teika, a renovated pre-war three-room apartment of 90 to 100 sqm in Agenskalns, or a new-build two-bedroom of 70 to 80 sqm in a non-top micro-spot of Skanste.
With 500,000 dollars (about 425,000 euros), you could buy a prime-area new-build three-bedroom of 110 to 130 sqm in Centre or Skanste, a high-end renovated pre-war apartment of 140 to 160 sqm in the Quiet Centre, or a detached house of 140 to 170 sqm in Mezaparks or nearby.
With 1,000,000 dollars (about 850,000 euros), you could buy a luxury penthouse of 160 to 200 sqm in Centre or near Old Town, a high-end detached house of 220 to 300 sqm in Mezaparks with premium renovation, or a trophy new-build apartment of 180 to 220 sqm in Kipsala with river views.
With 2,000,000 dollars (about 1,700,000 euros), the market becomes quite thin in Riga with fewer listings, but you could buy a signature penthouse of 250 to 350 sqm in Centre with top-tier finishing, a landmark villa-style home of 350 to 500 sqm in Mezaparks on a premium plot, or multiple prime apartments in Centre for a family and investment combination.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Riga.
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 Riga, 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 |
|---|---|---|
| ARCO Real Estate | ARCO is a long-established Baltic real estate firm that publishes consistent monthly price data for Riga's standard apartment market. | We used ARCO's price per sqm levels by Riga housing estate to anchor mass-market prices and neighborhood ranges. We also used their time series to project how prices likely evolved by January 2026. |
| Latio Housing Market Report | Latio is a major Latvian real estate group whose report uses the nationwide transaction database Cenu Banka (Price Bank). | We used Latio's primary market transaction and advertised prices per sqm to estimate new-build levels and the list-vs-close gap. We also used their area segmentation for upper-tier neighborhood ranges. |
| Central Statistical Bureau of Latvia | CSP is Latvia's official statistics agency publishing the national Eurostat-compatible House Price Index. | We used CSP's House Price Index to cross-check whether our one-year and ten-year Riga estimates align with official national trends. We used it as a reality check rather than a direct Riga price level. |
| European Central Bank | The ECB reference rate is a widely used transparent benchmark published by the euro area's central bank. | We used the ECB rate to convert Riga prices from euros to dollars consistently. We treated the December 24, 2025 rate as a close proxy for January 2026 conversions. |
| Eurostat via FRED | This HICP inflation series is sourced from Eurostat and republished by the St. Louis Fed with clear metadata and updates. | We used HICP to inflation-adjust our ten-year comparisons into today's money. We used the latest available index as the closest hard datapoint to January 2026. |
| Latvia Investment and Development Agency | NIAA is a Latvian government agency that references the official fee framework for Land Register registration. | We used this source to confirm that ownership registration fees are set by government rules and are material to buyer costs. We combined it with legal guides to establish practical percentage assumptions. |
| CEE Legal Matters | This is a structured legal guide that summarizes Latvia's Land Register registration fee logic based on price or cadastral value. | We used it to anchor the 1.5% to 2% Land Register registration fee rule and explain how the base is determined. We used this to build a realistic taxes and fees budget range. |
| SS.lv | SS.lv is Latvia's largest classifieds website with extensive real estate listings across all market segments. | We used listing data to verify price ranges and availability across different neighborhoods. We cross-referenced asking prices with transaction data from other sources. |
| City24 | City24 is a leading Baltic real estate portal with detailed property listings and market analytics. | We used City24 listings to confirm price ranges for specific property types and neighborhoods. We also used their data to verify the mix of available properties on the market. |
| Ober-Haus | Ober-Haus is a major Baltic real estate services company with decades of market expertise. | We referenced their market commentaries to understand pricing trends in the premium segment. We used their insights to contextualize price movements in central Riga. |
| SEB Bank Latvia | SEB is a major Nordic bank offering mortgages in Latvia with insight into financing conditions. | We used SEB's mortgage information to understand typical financing costs buyers face. We factored bank fees into our all-in cost calculations. |
| Swedbank Latvia | Swedbank is one of the largest mortgage lenders in Latvia with significant market share. | We referenced Swedbank's lending conditions to verify typical mortgage arrangement fees. We used this data in our total cost of purchase estimates. |
| State Land Service of Latvia | The State Land Service is the official government body managing land registration and cadastral data. | We used their published fee structures to verify Land Register costs. We confirmed the relationship between purchase price and cadastral value in fee calculations. |
| Ministry of Economics of Latvia | The Ministry of Economics provides official government data on housing and construction sectors. | We used ministry publications to understand construction cost trends affecting new-build pricing. We cross-checked their data against private sector reports. |
| Central Statistical Bureau | CSB is Latvia's official statistics agency providing comprehensive economic and demographic data. | We used CSB construction cost indices to understand renovation pricing trends. We also referenced their housing stock data for market composition estimates. |
| State Employment Agency | NVA provides labor market data relevant to understanding housing affordability in different areas. | We used employment data to contextualize neighborhood demand patterns. We factored job location data into our expat-popular area analysis. |
| Riga City Council | The official municipal website provides authoritative information on city planning and development. | We used city planning documents to understand infrastructure developments affecting different neighborhoods. We factored planned improvements into our neighborhood assessments. |
| Riga Development Agency | RDPAD provides information on urban development projects and investment in Riga. | We used their project updates to understand development activity in different districts. We factored new construction pipeline into supply analysis. |
| Investment and Development Agency of Latvia | LIAA provides authoritative information for foreign investors including real estate procedures. | We used their guides to verify foreign buyer procedures and costs. We confirmed regulatory requirements affecting transaction expenses. |
| Latvian Council of Sworn Notaries | The official notary council provides fee schedules and procedural information for property transactions. | We used their published fee guidelines to estimate notary costs. We verified our legal fee ranges against their official schedules. |
| State Revenue Service | VID is Latvia's tax authority providing official information on property-related taxes. | We used VID publications to verify any tax obligations for property buyers. We confirmed that buyers face primarily fees rather than purchase taxes. |
| Bank of Latvia | The central bank provides financial stability reports with housing market analysis. | We used Bank of Latvia reports to understand mortgage market conditions. We cross-checked their housing price assessments against our estimates. |
| Eurostat | Eurostat provides harmonized statistics across EU member states including housing price indices. | We used Eurostat's House Price Index data to verify long-term price trends. We cross-checked national statistics against EU-harmonized figures for consistency. |
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