Leaving Riga: Demand for Housing in the Regions is Rapidly Growing 0 67

In 2025, both the number of transactions and the volume of issued mortgage loans increased. "Further growth in activity can be predicted as accumulated demand has formed. There are residents financially ready to purchase housing, but many are still waiting," noted market analyst Ksenia Ievleva from "Latio."

One of the noticeable trends experts mention is the growing interest in housing in the regions of Latvia, not just in Riga and the Riga district. The reasons have persisted since the pandemic: the model of remote work has taken root, and people are seeking more comfortable conditions for different stages of life - with small children or in retirement.

"Regional cities with developing entrepreneurial activities are advantageous for buyers: property prices are lower than in Riga, and access to services is often equal," emphasizes Marika Toma, head of the mortgage lending sector at "Swedbank."

Housing market expert Artis Zeilā from "Citadele" bank adds that remote work has significantly expanded the geography of housing choices.

"It used to be difficult to live in Kuldīga and work in Riga; now remote or partially remote work allows choosing a place of residence based on personal preferences, not just the location of the workplace," he explains.

According to the Central Statistical Bureau, in the third quarter of this year, 77,400 people worked remotely in Latvia, accounting for 10.2% of all employed. The largest share of remote workers - 55% - is in the financial and insurance sectors.

Zeilā also points out the emotional factor: "The choice of housing in areas distant from Riga is often associated with personal attachment to the city or region where a person lived previously."