Riga Records Largest Price Increase for Series Apartments 0 7

Riga has recorded the largest price increase for series apartments.

LETA reports that the average price per square meter reached 885 euros in November. Despite the increase, this is still 45% lower than the historical maximum recorded on July 1, 2007, when the cost of an unrenovated series apartment reached 1,620 euros/m².

Why Are Prices Rising?

According to Arco Real Estate, the main reason is the lowest supply volume in the last four years, typical for the autumn months. The shortage of apartments was observed not only in Riga but also in the surrounding areas, which also stimulated a gradual increase in prices.

Price Dynamics by Districts

Since the beginning of 2025, prices in the largest micro-districts of Riga have increased by 1–8%.

The most notable changes:

• Jugla - an increase of 8%, the highest figure of the year;
• Imanta and Kengarags - on average +6%;
• In other districts, prices increased by no more than 5%;
• The smallest dynamics were noted in the most expensive district - Teika.

In November, compared to October, an increase was recorded in all micro-districts. Leaders in monthly increase:

• Jugla and Vecmilgravis - over 2%;
• The most modest growth - Zolitūde (+0.2%).

Which Apartments Are Increasing in Price Faster?

The price per square meter in November increased:

• one-bedroom apartments - +1.2%,
• two-bedroom - +1%,
• three- and four-bedroom - +1.3%.

Since the beginning of the year, two-bedroom apartments have increased the most in price - on average by 4.5%.

Price Differences Between Districts

In November, the highest average price per square meter remained in Teika - 1,083 euros/m². The lowest was in Bolderāja - 675 euros/m², but prices there also continued to rise.

Which Houses Are the Most Expensive and Most Affordable?

Expensive segment: houses of the 119th and 104th series.

Two-bedroom apartments in satisfactory condition cost 53,000–56,000 euros, depending on the location.

More affordable segment:

• Lithuanian project houses - 31,000–44,000 euros for a two-bedroom apartment;
• Khrushchyovkas - 30,000–45,000 euros, depending on the district.