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Real estate market report — Decembris 2022

A real report on the Latvian real estate market, based on VZD-registered deals.

2103
Apartment deals
56747 €
Average price
1180 €/m² ▲7.9%
Average per m² (vs. previous period)
2023 / 1308
Building / land deals

Key insights

Deal breakdown by building era

Older buildings and newer developments don't just cost differently — they also make up very different shares of the total deal count. This chart shows what percentage of all this period's apartment deals happened in each era.

13.4% Vecbūve (līdz 1945) (275 deals)
54.3% Padomju sērijveida (1946–1993) (1111 deals)
6.6% Jaunā celtne (1994–2014) (136 deals)
25.6% Jaunākie projekti (2015+) (525 deals)
Building era% of dealsDealsAverage priceAvg. €/m²
Vecbūve (līdz 1945) 13.4% 275 56166 € 1141 €/m²
Padomju sērijveida (1946–1993) 54.3% 1111 28317 € 617 €/m²
Jaunā celtne (1994–2014) 6.6% 136 73146 € 1706 €/m²
Jaunākie projekti (2015+) 25.6% 525 113063 € 2523 €/m²

How it's calculated: the building era is determined by the year VZD registered the building as put into service (not the \"building series\" mentioned in listings — that's available for real transaction data too rarely to base reliable statistics on). Eras: Pre-war — {% trans "līdz 1945. gadam" %}; Soviet-era prefab — 1946–1993 ({% trans "galvenokārt tipveida paneļu un ķieģeļu mājas" %}); New building — 1994–2014; Newest developments — 2015 and later. Percentages are calculated from deals where the building year is known; eras with fewer than 5 deals in the period aren't shown separately.

Price trend (€/m² by month)

1180
Dec 2022

Neighborhoods with the biggest price increase

NeighborhoodAvg. €/m²Change
Imanta 2008 €/m² ▲ 45.9%
Āgenskalns 1762 €/m² ▲ 41.2%
Čiekurkalns 1378 €/m² ▲ 32.1%
Teika 1750 €/m² ▲ 30.6%
Bolderāja 751 €/m² ▲ 23.7%

Neighborhoods with the biggest price drop

NeighborhoodAvg. €/m²Change
Torņakalns 1007 €/m² ▼ -49.4%
Mežciems 1334 €/m² ▼ -32.7%
Pļavnieki 1407 €/m² ▼ -17.2%
Dārzciems 688 €/m² ▼ -15.1%
Sarkandaugava 769 €/m² ▼ -8.5%

See all deals in this period

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Data from the State Land Service's (VZD, data.gov.lv) open data. Calculations are done automatically, without AI-generated analysis.