Real estate market report — Maijs 2023

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

From

Building era

Neighborhood

1929

Apartment deals

50763 €

Average price

1040 €/m² ▲17.8%

Average per m² (vs. previous period)

2567 / 1574

Building / land deals

Key insights

Vidējā cena par m² pieauga par 17.8% salīdzinājumā ar iepriekšējo periodu.
64.6% no Rīgā reģistrētajiem dzīvokļu darījumiem šajā periodā bija padomju sērijveida ēkās, savukārt 19.9% - jaunajos projektos (celtos pēc 1994. gada).
Jaunākie projekti (2015+) dzīvokļi vidēji ir par 112% dārgāki par m² nekā vecbūve (līdz 1945) ēkās.
Lielākais cenu kāpums bija Āgenskalns apkaimē (+37.9%).
Kopā reģistrēti 1929 dzīvokļu darījumi Rīgā šajā periodā.

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.

15.5% Vecbūve (līdz 1945) (292 deals)

64.6% Padomju sērijveida (1946–1993) (1217 deals)

9.1% Jaunā celtne (1994–2014) (172 deals)

10.8% Jaunākie projekti (2015+) (204 deals)

Building era	% of deals	Deals	Average price	Avg. €/m²
Vecbūve (līdz 1945)	15.5%	292	57545 €	1222 €/m²
Padomju sērijveida (1946–1993)	64.6%	1217	31409 €	699 €/m²
Jaunā celtne (1994–2014)	9.1%	172	98380 €	1673 €/m²
Jaunākie projekti (2015+)	10.8%	204	113668 €	2589 €/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)

1040

Mai 2023

Neighborhoods with the biggest price increase

Neighborhood	Avg. €/m²	Change
Āgenskalns	2003 €/m²	▲ 37.9%
Purvciems	1413 €/m²	▲ 37.4%
Zolitūde	1288 €/m²	▲ 26.5%
Mežaparks	2166 €/m²	▲ 23.8%
Teika	1756 €/m²	▲ 22.8%

Neighborhoods with the biggest price drop

Neighborhood	Avg. €/m²	Change
Jugla	834 €/m²	▼ -23.2%
Pļavnieki	1016 €/m²	▼ -17.1%
Čiekurkalns	1276 €/m²	▼ -13.5%
Bolderāja	614 €/m²	▼ -10.1%
Šampēteris-Pleskodāle	1294 €/m²	▼ -7.6%

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.