Prices of standard apartments in Riga have increased by 2.7% since the beginning of the year

In Riga’s residential districts, the largest price increase this year was observed in October for standard apartments – during the month, the price increased by an average of 1%, but since the beginning of the year, the prices of standard apartments have increased by 2.7%, according to the latest market report by real estate company Arco Real Estate.

2025. In October 2017, the average price of standard apartments reached 874 euros per square meter. At the same time, the average price of standard apartments in October this year was on average 46% lower than on July 1, 2007, when the average price of an unrenovated standard apartment reached an all-time high of 1,620 euros per square meter.

The increase in the average price of standard apartments was influenced by the significant decline in supply.

In certain neighborhoods, the price increase for standard apartments this year is 5-6%.

In the largest residential areas of Riga, apartment prices have increased by 0.8-5.9% since the beginning of 2025. The largest changes in apartment prices were observed in Jugla, where they have increased by almost 6% this year. In Imanta and Ķengarag, the prices of standard apartments have also increased by more than 5% this year. In the other residential areas of Riga, price changes this year mostly do not exceed 3%. The smallest changes in apartment prices were observed in the most expensive residential area – Teika.

The average price per square meter of standard apartments in October increased by 1% for one-room apartments, by 1.4% for two-room apartments, by 1% for three-room apartments and by 1.1% for four-room apartments. Since the beginning of the year, the average price of two-room apartments has increased the most – by 3.5%.

In October, compared to September, the average price of apartments in all major residential districts of Riga increased. The largest increase in average prices was in Ķengaraga and Bolderāja, where prices increased by 2% during the month. The smallest price changes were observed in the most expensive residential districts of Riga – Teika and Āgenskalns. In them, the average price increased by only 0.4%.

Compared to the beginning of 2025, in October 2025 the highest average price per square meter of an apartment was in Teika, while the lowest was still in Bolderāja. In Teika, the average price per square meter increased to 1076 euros per square meter. The lowest average price per square meter in October was in Bolderāja – 663 euros per square meter, which also increased compared to the previous month.