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Real estate market report — Decembris 2023

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

1735
Apartment deals
47827 €
Average price
983 €/m² ▲2.8%
Average per m² (vs. previous period)
1825 / 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.

16.2% Vecbūve (līdz 1945) (272 deals)
64.4% Padomju sērijveida (1946–1993) (1082 deals)
8.5% Jaunā celtne (1994–2014) (142 deals)
11.0% Jaunākie projekti (2015+) (184 deals)
Building era% of dealsDealsAverage priceAvg. €/m²
Vecbūve (līdz 1945) 16.2% 272 62506 € 1352 €/m²
Padomju sērijveida (1946–1993) 64.4% 1082 27537 € 601 €/m²
Jaunā celtne (1994–2014) 8.5% 142 79881 € 1522 €/m²
Jaunākie projekti (2015+) 11.0% 184 116261 € 2861 €/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)

983
Dec 2023

Neighborhoods with the biggest price increase

NeighborhoodAvg. €/m²Change
Mežaparks 2860 €/m² ▲ 55.4%
Mežciems 1691 €/m² ▲ 33.3%
Ziepniekkalns 1196 €/m² ▲ 19.4%
Maskavas priekšpilsēta 1231 €/m² ▲ 13.5%
Sarkandaugava 822 €/m² ▲ 13.3%

Neighborhoods with the biggest price drop

NeighborhoodAvg. €/m²Change
Dārzciems 814 €/m² ▼ -26.3%
Vecmīlgrāvis 595 €/m² ▼ -22.4%
Ķengarags 868 €/m² ▼ -20.3%
Zolitūde 1626 €/m² ▼ -15.2%
Centrs 1949 €/m² ▼ -4.7%

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.