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Real estate market report — Novembris 2024

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

2205
Apartment deals
48144 €
Average price
1019 €/m² ▲2.6%
Average per m² (vs. previous period)
2521 / 1518
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.

17.7% Vecbūve (līdz 1945) (381 deals)
62.7% Padomju sērijveida (1946–1993) (1350 deals)
8.9% Jaunā celtne (1994–2014) (191 deals)
10.7% Jaunākie projekti (2015+) (230 deals)
Building era% of dealsDealsAverage priceAvg. €/m²
Vecbūve (līdz 1945) 17.7% 381 46002 € 1088 €/m²
Padomju sērijveida (1946–1993) 62.7% 1350 29856 € 646 €/m²
Jaunā celtne (1994–2014) 8.9% 191 87713 € 1766 €/m²
Jaunākie projekti (2015+) 10.7% 230 115340 € 2630 €/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)

1019
Nov 2024

Neighborhoods with the biggest price increase

NeighborhoodAvg. €/m²Change
Purvciems 1405 €/m² ▲ 33.7%
Pļavnieki 1576 €/m² ▲ 33.2%
Teika 1640 €/m² ▲ 24.5%
Vecmīlgrāvis 759 €/m² ▲ 19.2%
Ziepniekkalns 1368 €/m² ▲ 18.0%

Neighborhoods with the biggest price drop

NeighborhoodAvg. €/m²Change
Aplokciems 1249 €/m² ▼ -45.7%
Daugavgrīva 440 €/m² ▼ -40.6%
Krasta ielas rajons 1815 €/m² ▼ -25.1%
Šampēteris-Pleskodāle 1002 €/m² ▼ -13.4%
Jugla 914 €/m² ▼ -9.6%

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.