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
If you are looking at buying property in Riga in 2026, you probably want to know what you can actually afford at different budget levels.
This guide breaks down exactly what $100k, $200k, $300k, and $500k can buy you in Riga right now, with real neighborhood names and current price data.
We constantly update this blog post with fresh information so you always get the most accurate picture of Riga's housing prices.
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.
What can I realistically buy with $100k in Riga right now?
Are there any decent properties for $100k in Riga, or is it all scams?
Yes, $100k (around €85,000 at current exchange rates) can buy you a decent property in Riga, but you will mostly be looking at Soviet-era apartments in the outer and mid-ring districts rather than new builds or central locations.
The best value neighborhoods in Riga for a $100k budget include Kengarags (averaging around €830 per square meter), Jugla (around €850 per square meter), Ilguciems (around €850 per square meter), Imanta (around €920 per square meter), and Purvciems (around €920 per square meter), all of which offer legitimate options with good public transport connections to the city center.
Buying in popular areas like Teika is still possible at $100k, but you will get a smaller apartment that likely needs renovation, while Central Riga and Old Town are typically out of reach at this budget unless you find something tiny with legal or structural complications.
What property types can I afford for $100k in Riga (studio, land, old house)?
With $100k in Riga (around €78,000 to €80,000 after setting aside 6 to 8 percent for closing costs), you can realistically afford a standard Soviet-era apartment of 40 to 70 square meters in outer districts, a smaller studio or micro-apartment in better-connected areas, or occasionally a house in the city outskirts that needs significant renovation.
At this price level in Riga, buyers should typically expect apartments with dated interiors, older building systems, and potentially some cosmetic work needed, with renovation costs ranging from €5,000 for a basic refresh to €20,000 or more for a complete interior redo.
For long-term value at the $100k level in Riga, standard apartments in well-connected residential districts like Imanta, Purvciems, or Ziepniekkalns tend to offer the best balance of resale liquidity and rental demand, as these areas have steady local demand and improving infrastructure.
What's a realistic budget to get a comfortable property in Riga as of 2026?
As of early 2026, the realistic minimum budget to get a comfortable property in Riga is around €150,000 (approximately $175,000 or 150,000 EUR), which gives you access to either a nicely renovated older apartment or a smaller new-build in the suburbs.
Most buyers looking for a comfortable standard in Riga need a budget between €150,000 and €220,000 ($175,000 to $260,000), as this range opens up options for modern apartments with good finishes, proper heating systems, and desirable locations.
In Riga, "comfortable" generally means a 1 to 2 bedroom apartment of 50 to 75 square meters with renovated interiors, reliable building infrastructure, an elevator if above the second floor, and reasonable proximity to public transport and daily amenities.
Budget requirements can vary significantly by neighborhood in Riga, with €150,000 buying you something comfortable in Teika or Agenskalns, while the same comfort level in the Quiet Centre or Old Town often requires €200,000 or more.
What can I get with a $200k budget in Riga as of 2026?
What "normal" homes become available at $200k in Riga as of 2026?
As of early 2026, $200,000 (around €170,000, with €158,000 to €160,000 as your actual purchase price after costs) opens up access to either a good renovated apartment in a desirable district like Agenskalns or Teika, or a smaller new-build apartment in one of Riga's modern residential projects.
At this budget in Riga, you can typically expect 60 to 90 square meters for a renovated older apartment in a better district, or 45 to 75 square meters for a new-build apartment, which is enough space for a comfortable 2-bedroom layout suitable for a couple or small family.
By the way, we have much more granular data about housing prices in our property pack about Riga.
What places are the smartest $200k buys in Riga as of 2026?
As of early 2026, the smartest neighborhoods for a $200k budget in Riga include Teika (popular with young professionals, good transport links), Agenskalns (classic architecture, gentrifying rapidly), and Imanta or Purvciems (better space per euro with solid infrastructure).
These areas are smarter buys than other $200k options in Riga because they combine reasonable prices with strong resale liquidity, meaning you will find buyers easily when you want to sell, unlike more peripheral districts with less established demand.
The main growth driver in these Riga neighborhoods is the combination of ongoing infrastructure improvements (including Rail Baltica connectivity), proximity to expanding business districts, and demographic shifts as young professionals and families move in seeking better value than the expensive city center.
What can I buy with $300k in Riga in 2026?
What quality upgrade do I get at $300k in Riga in 2026?
As of early 2026, moving from $200k to $300k (approximately €255,000, with €235,000 to €240,000 as your purchase price) in Riga unlocks significant upgrades including access to newer buildings with modern energy performance, better micro-locations closer to parks or the riverside, and turnkey renovations in pre-war buildings with historic character.
Yes, $300k can definitely buy you a property in a newer building in Riga right now, as suburb new-builds are priced at €2,100 to €3,500 per square meter, meaning your €240,000 budget can secure 70 to 110 square meters in a quality modern project outside the city center.
At this budget level in Riga, you can expect features like modern insulation and heating systems, secure parking or storage options, elevator access, contemporary kitchens and bathrooms, and sometimes balconies or terraces that are rare in lower price brackets.
Can $300k buy a 2-bedroom in Riga in 2026 in good areas?
As of early 2026, finding a 2-bedroom property for $300k (€240,000 purchase price) in good areas of Riga is very achievable, as this budget comfortably covers the cost of spacious apartments in most desirable neighborhoods except the most exclusive new-build projects.
Good areas in Riga where $300k can secure a 2-bedroom include Centrs (especially the Quiet Centre edges), Agenskalns (for larger renovated units), Teika (for higher-quality turnkey options), and parts of Mezaparks direction where you get proximity to green spaces.
A $300k 2-bedroom in Riga typically offers 60 to 85 square meters, which provides comfortable living space with a proper living room, two separate bedrooms, a full bathroom, and often a dedicated storage area or utility room.
Which places become "accessible" at $300k in Riga as of 2026?
At the $300k price point in Riga, neighborhoods that become accessible include Centrs (including the desirable Quiet Centre), premium parts of Agenskalns with well-renovated pre-war buildings, higher-quality Teika properties, and select spots near Mezaparks with its prestigious green character.
These newly accessible areas are more desirable than lower-budget options because they offer better architectural quality (Art Nouveau buildings, pre-war character), stronger community infrastructure (quality schools, cultural venues, established cafes), and more prestigious addresses that hold value better over time.
In these newly accessible Riga neighborhoods, $300k typically buys a well-renovated 2-bedroom apartment of 65 to 85 square meters with good natural light, quality finishes, and often historic features like high ceilings and original woodwork that add lasting appeal.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Riga.
What does a $500k budget unlock in Riga in 2026?
What's the typical size and location for $500k in Riga in 2026?
As of early 2026, $500,000 (around €425,000, with €395,000 to €400,000 as your purchase price) in Riga typically buys either 80 to 130 square meters in prime locations like Centrs or Old Town, or significantly larger spaces of 100 to 150 square meters in premium residential districts like Mezaparks or Kipsala.
A $500k budget can sometimes buy a family home with outdoor space within Riga city limits, though true detached houses with gardens in prime areas like Mezaparks often push above this level, making townhouse-style options or apartments with terraces more reliably available.
At $500k in Riga, you can typically expect 3 to 4 bedrooms and 2 bathrooms, which is enough space for a family with children, a home office, and comfortable entertaining areas that feel genuinely spacious by European urban standards.
Finally, please note that we cover all the housing price data in Riga here.
Which "premium" neighborhoods open up at $500k in Riga in 2026?
At $500k in Riga, premium neighborhoods that open up include Mezaparks (the prestigious "forest park" district), Vecrīga or Old Town (for high-character renovated historic properties), the Quiet Centre (for large pre-war apartments), and Kipsala (for its riverside atmosphere and proximity to the city center).
These neighborhoods are considered premium in Riga because they combine historic prestige with genuine lifestyle benefits: Mezaparks offers forest setting and lakeside access, Old Town provides UNESCO-listed architecture and walkable urbanism, while Kipsala delivers waterfront living minutes from downtown.
For $500k in these premium Riga neighborhoods, buyers can realistically expect either a large renovated apartment of 90 to 130 square meters with high ceilings and period details, or a smaller but exceptionally finished new-build unit in a landmark project with views and premium amenities.
What counts as "luxury" in Riga in 2026?
At what amount does "luxury" start in Riga right now?
In Riga, luxury property pricing typically starts at around €350,000 to €450,000 ($410,000 to $530,000) for smaller 1 to 2 bedroom units with premium specifications, as this is where you enter the €5,000 to €7,000 per square meter tier that Ober-Haus classifies as "exclusive."
The entry point to luxury real estate in Riga is defined by features like prime Old Town or Quiet Centre addresses, full architect-designed renovations with high-end materials, smart home systems, secure parking, and building amenities like concierge services or private courtyards.
Compared to other European capitals, Riga's luxury threshold is notably lower, as €400,000 would buy only a mid-range apartment in cities like Stockholm, Copenhagen, or Munich, making Riga attractive for buyers seeking genuine luxury at Baltic prices.
For mid-tier luxury in Riga, expect to spend €500,000 to €800,000 ($590,000 to $940,000), while top-tier luxury properties such as large Old Town penthouses, historic mansions, or exceptional Mezaparks villas typically range from €800,000 to €1,500,000 or more.
Which areas are truly high-end in Riga right now?
The truly high-end neighborhoods in Riga right now are Vecrīga (Old Town) for its UNESCO-listed historic character, Centrs and the Quiet Centre for prestigious pre-war apartment buildings, and Mezaparks for its villa-style family homes surrounded by forest and near Kīšezers lake.
These areas are considered truly high-end in Riga because they combine irreplaceable location advantages (historic architecture, waterfront access, mature forest setting) with genuine scarcity, as no new land can be created in Old Town and Mezaparks plots rarely come to market.
The typical buyer profile for these high-end Riga areas includes successful local entrepreneurs, returning Latvian diaspora members seeking heritage properties, Nordic executives relocating for regional roles, and increasingly Western European buyers discovering Riga's value proposition compared to their home markets.
How much does it really cost to buy, beyond the price, in Riga in 2026?
What are the total closing costs in Riga in 2026 as a percentage?
As of early 2026, total closing costs for buying property in Riga typically range from 3% to 8% of the purchase price, depending on whether you use a real estate agent and how complex the transaction is.
The realistic low-to-high percentage range covering most standard Riga apartment purchases is 4% to 6%, with simple transactions at the lower end and more complex deals involving legal reviews, translated documents, or mortgage arrangements at the higher end.
The main fee categories making up this total in Riga include the state registration fee (1.5% of purchase price for individuals), notary fees (typically €250 to €800 depending on documentation), and optional but recommended legal review costs (€500 to €1,500 for foreign buyers).
To avoid hidden costs and bad surprises, you can check our our pack covering the property buying process in Riga.
How much are notary, registration, and legal fees in Riga in 2026?
As of early 2026, the combined cost for notary, registration, and legal fees in Riga typically totals €2,000 to €5,000 ($2,350 to $5,900) for a standard €100,000 to €200,000 apartment purchase, scaling proportionally for higher-value properties.
These fees typically represent 2% to 4% of the property price in Riga, with the state registration fee at a fixed 1.5%, notary fees adding 0.3% to 0.5%, and optional legal services adding another 0.5% to 1.5% depending on scope.
The state registration fee is usually the most expensive component in Riga transactions, as the 1.5% of purchase price quickly adds up (for example, €3,000 on a €200,000 purchase), while notary fees follow a degressive tariff that makes them relatively smaller on larger deals.
What annual property taxes should I expect in Riga in 2026?
As of early 2026, annual property tax for a typical residential property in Riga runs around €120 to €400 per year ($140 to $470, or 120 to 400 EUR), though the exact amount depends entirely on your property's cadastral value rather than its market price.
Property taxes in Riga typically represent 0.2% to 0.6% of the cadastral value (not market value), with cadastral values often being significantly lower than what you actually paid, which keeps annual tax bills relatively modest by European standards.
Property taxes can vary within Riga based on property type and specific location, with residential apartments generally taxed at lower rates than commercial properties, and certain historical or protected buildings potentially qualifying for different assessment methods.
First-time buyers and certain categories of residents in Latvia may qualify for tax reductions, though the specifics depend on municipal rules that can change, so checking with Riga City Council or a local advisor before purchase is wise.
You can find the list of all property taxes, costs and fees when buying in Riga here.
Is mortgage a viable option for foreigners in Riga right now?
Yes, mortgages are a viable option for foreigners buying property in Riga, with major banks like Swedbank and Citadele actively offering home loans to non-residents, though approval depends heavily on your residency status, income documentation, and ties to Latvia.
Foreign buyers in Riga can typically access loan-to-value ratios of 60% to 70% (meaning 30% to 40% down payment required), with current interest rates around 4.5% to 5.5% based on EURIBOR plus a bank margin, resulting in APRs that Citadele recently illustrated at around 4.65%.
To qualify for a mortgage as a foreign buyer in Riga, you generally need proof of stable income (employment contracts, tax returns, bank statements), a Latvian bank account showing regular activity, and comprehensive property documentation, with the process taking longer and requiring more paperwork than for local buyers.
If you're interested, we cover the entire mortgage process and requirements in our real estate pack about Riga.
What should I predict for resale and growth in Riga in 2026?
What property types resell fastest in Riga in 2026?
As of early 2026, the property types that resell fastest in Riga are 1 to 2 room apartments (35 to 55 square meters) in well-connected residential districts like Purvciems, Imanta, Ziepniekkalns, and Jugla, where steady local demand and good transport links ensure quick buyer interest.
The typical time on market to sell a correctly priced standard apartment in Riga is around 2 to 4 months from listing to completed deal, while premium and luxury properties often take 4 to 9 months or longer due to a smaller pool of qualified buyers.
Properties sell faster in Riga when they offer turnkey condition (minimizing buyer uncertainty), clear legal structure (no complicated land-lease arrangements), good energy efficiency (lower utility costs matter to Latvian buyers), and realistic pricing aligned with comparable recent sales.
The slowest properties to resell in Riga tend to be oversized luxury apartments in less established premium locations, properties with unusual layouts that do not appeal to local taste, and anything with complicated ownership structures like shared land or unresolved encumbrances that require extensive legal work.
If you're interested, we cover all the best exit strategies in our real estate pack about 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 |
|---|---|---|
| European Central Bank (ECB) | The ECB is the official euro reference rate publisher for the eurozone. | We converted USD budgets into EUR using the ECB reference rate from January 2026. We kept all property estimates in EUR since Riga transactions use EUR. |
| Ober-Haus Real Estate Market Report | Ober-Haus is a major Baltic brokerage with rigorous market reporting. | We used their Riga price bands by segment (Soviet-era, new builds, city centre, exclusive). We used those EUR per square meter ranges as the backbone for budget-to-size estimates. |
| ARCO Real Estate (via Global Property Guide) | ARCO is an established Latvian research firm with consistent methodology. | We used their district-by-district apartment price averages to identify value neighborhoods. We used it to verify Ober-Haus data with a late-2025 snapshot. |
| Central Statistical Bureau of Latvia (CSB) | CSB is Latvia's official national statistics agency. | We used it to anchor market direction commentary in verified national data. We used it to avoid relying only on private-sector trend commentary. |
| Riga City Council | The official municipality source for Riga's local tax rules. | We used it for Riga-specific property tax rates and payment guidance. We used it to keep annual costs anchored to the authority that bills you. |
| State Revenue Service (VID) | VID is Latvia's national tax authority. | We used it to confirm that tax is based on cadastral value and when it applies. We used it to verify Riga's guidance on property tax logic. |
| Invest in Latvia (NIAA) | Latvia's official investment agency with updated legal FAQs. | We used it to confirm the 1.5% state fee for ownership registration. We used it to build our closing-cost percentage estimate. |
| European Land Registry Association (ELRA) | ELRA compiles standardized country summaries from land registries. | We used it to explain foreigner restrictions on property purchases. We used it to keep foreign buyer eligibility guidance evidence-based. |
| Swedbank Latvia | One of the largest retail banks in Latvia with published mortgage terms. | We used it to confirm mortgages are actively offered to foreign buyers. We used it to ground the mortgage viability section in real bank practice. |
| Citadele Bank | A major Latvian bank with transparent worked examples. | We used their APR example to estimate current borrowing costs. We used it as a reality check against generic mortgage claims. |
Related blog posts