One of the Most Affordable Housing Options in Europe: How Much Real Estate Costs in Latvia in 2026

One of the Most Affordable Housing Options in Europe: How Much Real Estate Costs in Latvia in 2026
Key Numbers

Average home price — around €120,000

Cheapest apartments in Riga — from €630–700 per m²

Riga Center and Old Town — from €2,900 to €7,000 per m²

Prices by Riga Districts

Bolderāja — from €630 / m²

Ķengarags — €700–950 / m²

Zolitūde — €780–950 / m²

Imanta — €910–1,050 / m²

Pļavnieki — €900–1,000 / m²

Purvciems — €920–1,050 / m²

Teika — from €1,076 / m²

Bolderāja remains the most affordable district in Riga, while Teika is one of the most expensive in the standard apartment segment.

New Projects vs Old Buildings
New apartments are on average 60% more expensive than old buildings. Reasons — modern layouts, energy efficiency, and move-in readiness. Old buildings are cheaper but more often require renovation.

What Affects Prices?
Several factors influence real estate values.