Activity in Riga’s new residential projects market increased in 2025 compared to 2024, according to Arco Real Estate’s latest property market report for the first half of the year. The number of transactions in H1 2025 was 31% higher than in H2 2024 and 46% higher than in H1 2024.

Transaction growth varied by location: in Riga’s residential neighborhoods, the number of deals was up 36% compared with H2 2024, while in the city center the increase was 7%.

Analyzing apartment transactions in new projects, Arco Real Estate found that the largest share (42%) in H1 2025 fell within the EUR 100,000–150,000 price range. In this segment, 90% of transactions were recorded in residential neighborhoods.

In central Riga, most transactions were also in the EUR 100,000–150,000 range, dominated by two-bedroom apartments (56%), both in early 21st-century buildings and newly built houses. Similarly, in residential neighborhoods, the majority of deals were concentrated in this price bracket.

The average price of new apartments in Riga’s residential neighborhoods reached EUR 2,212 per square meter in mid-2025, up 4% compared with the end of 2024. Compared with Q2 2024, the average price was 3% higher.

Source: BNS

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