Real estate market report — Marts 2023

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

From

Building era

Neighborhood

2001

Apartment deals

47266 €

Average price

970 €/m² ▲8.1%

Average per m² (vs. previous period)

2611 / 1545

Building / land deals

Key insights

Vidējā cena par m² pieauga par 8.1% salīdzinājumā ar iepriekšējo periodu.
67.1% no Rīgā reģistrētajiem dzīvokļu darījumiem šajā periodā bija padomju sērijveida ēkās, savukārt 17.4% - jaunajos projektos (celtos pēc 1994. gada).
Jaunākie projekti (2015+) dzīvokļi vidēji ir par 104% dārgāki par m² nekā vecbūve (līdz 1945) ēkās.
Lielākais cenu kāpums bija Maskavas priekšpilsēta apkaimē (+123.8%).
Kopā reģistrēti 2001 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.

15.6% Vecbūve (līdz 1945) (299 deals)

67.1% Padomju sērijveida (1946–1993) (1288 deals)

9.5% Jaunā celtne (1994–2014) (182 deals)

7.9% Jaunākie projekti (2015+) (151 deals)

Building era	% of deals	Deals	Average price	Avg. €/m²
Vecbūve (līdz 1945)	15.6%	299	60864 €	1194 €/m²
Padomju sērijveida (1946–1993)	67.1%	1288	29717 €	648 €/m²
Jaunā celtne (1994–2014)	9.5%	182	72502 €	1604 €/m²
Jaunākie projekti (2015+)	7.9%	151	129967 €	2432 €/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)

970

Mar 2023

Neighborhoods with the biggest price increase

Neighborhood	Avg. €/m²	Change
Maskavas priekšpilsēta	1291 €/m²	▲ 123.8%
Šampēteris-Pleskodāle	1284 €/m²	▲ 77.0%
Āgenskalns	1890 €/m²	▲ 47.1%
Daugavgrīva	691 €/m²	▲ 32.8%
Ziepniekkalns	1563 €/m²	▲ 27.6%

Neighborhoods with the biggest price drop

Neighborhood	Avg. €/m²	Change
Torņakalns	970 €/m²	▼ -45.0%
Mežciems	1303 €/m²	▼ -17.9%
Sarkandaugava	906 €/m²	▼ -14.7%
Aplokciems	986 €/m²	▼ -12.9%
Čiekurkalns	1116 €/m²	▼ -9.1%

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.