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In May 2025, no significant changes were observed in the prices of standard-type apartments in Riga's housing estates - the average price of standard type apartments increased by a mere 0.2% during the month. The average price of standard-type apartments in May increased to 860 EUR/m².
In the first months of 2025, no significant changes were observed in the prices of standard-type apartments in Riga. Positive price growth trends were observed in certain housing estates - in Jugla and Imanta, where apartment prices increased by 3-4% this year. In the Riga vicinity, in the standard-type apartment market in the first months of 2025, prices increased the most in Ogre and in Kauguri, Jūrmala - by 3%.
The number of apartments offered for sale in the largest housing estates of Riga continued to increase in May, and this year reached the highest mark - 1625. The level of the supply was still lower than in 2024.
In Riga's largest housing estates, since the beginning of 2025, apartment prices have mainly experienced small price fluctuations. The largest changes in apartment prices were observed in Jugla, where they increased by more than 4% this year. In Imanta, the prices of standard-type apartments also increased by almost 3% in the first months of this year. In other housing estates, price changes did not reach 2% this year.
In May, the average price of standard-type apartments increased to 860 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 May, 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 three-room apartments (+0.5%). The average price per square meter of four-room apartments also increased minimally (+0.1%).
Compared to the previous month, the supply of apartments in Riga decreased by 2% in May. The number of apartments offered for sale in the largest housing estates of Riga analysed by “ARCO REAL ESTATE” increased by 1%. Compared to April 2024, the supply of apartments in May was generally lower: both the total number of apartments offered for sale and the supply of apartments in the largest housing estates was 18% lower.
Summarizing the number of apartments offered for sale in Riga housing estates, it can be concluded that the largest supply in May was in Āgenskalns, while the smallest supply was in Bolderāja.
Last month, the number of apartments offered for sale increased in most of the major housing estates of Riga. The number of apartments offered for sale increased the most in Āgenskalns (+19%). In turn, the largest drop in number of apartments offered for sale was observed in Teika (-13%) in May.
When analysing the supply of apartments in proportion to the size of the housing estate, i.e., by population, the largest supply in May was found in Āgenskalns. On the other hand, the number of apartments offered for sale was proportionally the lowest in Imanta.
In May, small changes were observed in the prices of standard-type apartments in Riga's housing estates. Positive price fluctuations were observed in the largest housing estates of Riga. The largest price increase was observed in Jugla, where prices increased by 1.1% during the month. In several housing estates, price changes were not observed at all or were insignificant. Negative price fluctuations were not observed in May in any of the housing estates.
Compared to the beginning of 2025, in May the prices of standard-type apartments increased slightly in all major housing estates of Riga. Also compared to the beginning of 2024, only minor price changes were observed in apartment prices.
The highest prices for standard-type apartments in May remained in Teika, where the average price per square meter increased to 1,070 EUR/m². The lowest average price per square meter in May was in Bolderāja – 646 EUR/m², which remained unchanged in May.
In May, 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 May 2025, the prices of standard-type apartments in Ogre increased by 0.3%. The average price of one square meter of apartments is 871 EUR/m². Apartment prices in Ogre in May were 3% higher than at the end of 2024.
Kauguri, Jūrmala
In Kauguri, the prices of standard-type apartments increased by 1.3% in May. The average price of standard-type apartments in May was 809 EUR/m². Since the beginning of 2024, apartment prices in Kauguri have increased by 3%.
Salaspils
In May, the prices of standard-type apartments in Salaspils remained unchanged. The average price per square meter of apartments remained at 828 EUR/m². In May, the prices of standard-type apartments in Salaspils were 0.2% lower than at the end of the previous year.
Jelgava
Apartment prices in Jelgava decreased by 0.1% in May. The average price of standard-type apartments in May fell to 756 EUR/m². In Jelgava, the prices of standard-type apartments in May are 2% higher than at the end of 2024.
13.06.2025.