In the neighborhoods of Riga, the average price of panel apartments increased by 5% in the first quarter of the year, according to a review by the real estate company "Arco Real Estate."
In March, the average price of panel apartments in Riga was 928 euros per square meter. There is still a long way to go before reaching record levels. The current price is 43% lower than on July 1, 2007, when the average price of unrenovated panel housing reached a historical maximum of 1620 euros per square meter.
The review notes that the price increase this year exceeds the figures of the entire previous year. The main reason for the rise in prices is still considered to be the insufficient supply of apartments. The company also notes that in March, the increase in the average price of panel apartments was the highest in recent years.
Since the beginning of 2026, prices for apartments in the largest neighborhoods of Riga have increased by 2–7%. The highest growth was recorded in Imanta — by 7%. In Plavnieki, prices also increased significantly more than in other areas — on average by 6%. The smallest changes were observed in the most affordable area — Bolderaja.
The highest prices for panel apartments in March remained in Teika, where the average price reached 1123 euros per square meter. The lowest average price was in Bolderaja — 695 euros per square meter, which is also higher compared to the previous month.
In March, the most expensive apartments were in houses of the 119th and 104th series, where the prices for two-room apartments in satisfactory condition ranged from 56,000 to 57,000 euros depending on the location. The cheapest were houses of the Lithuanian project, where two-room apartments cost from 32,000 to 46,000 euros, as well as Khrushchyov-era houses — from 30,000 to 48,000 euros depending on the neighborhood.
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