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In February 2025, there were still no significant changes in the prices of standard-type apartments in Riga housing estates - the average price of standard-type apartments increased by 0.1% during the month. The average price of standard-type apartments in February was 853 EUR/m². Also compared to the beginning of 2024, the prices of standard apartments are generally similar.
In the first two months of 2025, the prices of standard-type apartments in Riga can be assessed as stable. No significant price fluctuations were observed - neither positive nor negative. In the standard-type apartment market around Riga, prices also remained stable at the beginning of 2025. An exception should be mentioned in Ogre, where apartment prices continued to increase slightly. Apartment prices in Ogre increased by 2% this year.
The number of apartments offered for sale in Riga's largest housing estates recovered slightly in January and February after a decline at the end of the year. However, the level of supply in February was lower than in the first months of the previous year. In 2023, the supply experienced the greatest growth in March.
In the largest housing estates of Riga, apartment prices have remained mostly unchanged or minimal price fluctuations have been observed since the beginning of 2025. The largest changes in apartment prices were observed in Jugla, where they increased by more than 2% this year. In Ķengarags, the prices of standard-type apartments also increased minimally in the first months of this year. In other housing estates, price fluctuations did not exceed 0.5%.
In February, the average price of standard-type apartments increased to 853 EUR/m². Prices were on average 47% lower than on January 1, 2007, when the average price of a non-renovated standard-type apartment reached the highest ever value – 1 620 EUR/m².
In February, apartment prices showed slight changes. The average price per square meter of standard-type apartments increased slightly for one-room apartments (+0.1%), two-room apartments (+0.2%) and four-room apartments (+0.1%). The average price per square meter of three-room apartments remained unchanged.
Compared to the previous month, the supply of apartments in Riga increased by 5% in February. The number of apartments offered for sale in the largest housing estates of Riga analysed by “ARCO REAL ESTATE” increased by 4%. Compared to January 2024, the supply of apartments was generally lower: the total number of apartments offered for sale was 8% lower, but the supply of apartments in the largest housing estates was 13% lower than a year ago.
Summarizing the number of apartments offered for sale in Riga housing estates, it can be concluded that the largest supply in February was in Purvciems, while the smallest supply was in Bolderāja.
Last month, the number of apartments offered for sale increased in almost all major housing estates of Riga. The number of apartments offered for sale increased the most in Āgenskalns (+15%). In turn, the largest drop in number of apartments offered for sale was observed in Bolderāja (-17%) in February.
When analysing the supply of apartments in proportion to the size of the housing estate, i.e., by population, the largest supply in February was found in Āgenskalns. On the other hand, the number of apartments offered for sale was proportionally the lowest in Zolitūde.
In February, small changes were observed in the prices of standard-type apartments in Riga housing estates. In the largest housing estates of Riga, mainly positive price fluctuations were observed. The largest price increase was observed in Jugla, where prices increased by 1.2% during the month. In several housing estates, price changes were not observed at all or were insignificant in February.
Compared to the beginning of 2025, prices for standard-type apartments remained similar in February 2025. However, compared to the beginning of 2024, prices were 0.4% higher.
The highest prices of standard-type apartments remained in Teika in February, where the average price per square meter remained unchanged – 1068 EUR/m². The lowest average price per square meter was found in Bolderāja in February – 649 EUR/m², which which did not change in February.
In February, the most expensive apartments still were apartments in the houses of the series 119 and 104, where the price of 2-room apartments in a satisfactory condition varied from 52 000 to 55 000 EUR depending on the location. In turn, the so-called Lithuanian design houses were the cheapest ones, where the price of 2-room apartments varied from 30 000 to 42 000 EUR, and the so-called Khrushchev-time houses, where the price of a 2-room apartment varied from 28 000 to 44 000 EUR depending on the housing estate.
Apartment market in the vicinity of Riga
Ogre
In February 2025, the prices of standard-type apartments in Ogre increased by 1%. The average price of one square meter of apartments is 869 EUR/m². Apartment prices in Ogre in February of this year were 4% higher than at the beginning of 2024.
Kauguri, Jūrmala
In Kauguri, the prices of standard-type apartments decreased by 0.2% in February. The average price of standard apartments in February was 794 EUR/m². Compared to the beginning of 2024, apartment prices in Kauguri were 4% higher in February 2025.
Salaspils
In February, the prices of standard-type apartments in Salaspils did not change. The average price of one square meter of apartments remained at 830 EUR/m². In February, the prices of standard-type apartments in Salaspils were 1% lower than at the beginning of the previous year.
Jelgava
Apartment prices in Jelgava did not change in February. The average price of standard-type apartments in February remained at 754 EUR/m². In Jelgava, the prices of standard-type apartments were 6% higher than at the beginning of 2024.
17.03.2025.