In short
- Price per m² = flat price / area in the cadastre.
- Small flats usually cost more per m² than large ones in the same building.
- Compare only the same neighbourhood and similar building types.
- Check the area in the cadastre: listings often show a different figure.
How to calculate a flat's price per m²
The formula is simple: divide the price by the area. A flat at €84,000 with 56 m² costs €1,500 per m².
Which area you use matters. Use the total area from the cadastre (kadastrs), not the one written in the listing. Listings sometimes add a balcony, storage room or attic to the area, which makes the price per m² look lower than it is. How to check is in flat area in the cadastre.
Why small flats cost more per m²
Every flat has a kitchen, a bathroom and an entrance, whatever its size. In a small flat these costlier rooms take up a bigger share of the area. Small flats also have more buyers: people buy them as a first home or to rent out, and they are easier to finance.
The result: a one-room flat in the same building usually costs more per m² than a three-room one. If you compare flats of different sizes on price per m² alone, the big one will always look like the «better deal».
What to compare so price per m² doesn't mislead
If any of these differ, price per m² is no longer directly comparable. Then adjust: a freshly renovated flat, for example, justifies a higher price per m².
- The same neighbourhood, or at least the same part of the city
- The same building type: Soviet-era series, new build or pre-war
- A similar number of rooms and area
- Similar condition: renovated vs needs work
- A similar floor, especially ground and top floor
- Deals from the last 12 months, not older
Example: two listings in one neighbourhood
Flat A: 34 m², 1 room, €59,000, which is €1,735 per m². Flat B: 68 m², 3 rooms, €99,000, which is €1,456 per m². B looks like a much better deal.
But one-room flats in the area sell for more per m² than three-room flats, so each listing has to be compared with its own group: A with one-room deals, B with three-room deals. It may turn out that A is at market level and B is pricier than similar flats.
Where to see price per m² in your city
m²cena shows flat prices per m² by city, neighbourhood and address, and by building series. For a specific listing, Check a Listing compares its price per m² with deals for similar flats.
Common questions
What is the average flat price per m² in Rīga?
It depends on the neighbourhood and building type. Current prices by city and neighbourhood are on the m²cena price pages.
Does a balcony count in a flat's area?
In the cadastre, balconies and loggias are usually listed separately. Calculate price per m² from the total area without them.
Why is price per m² higher in new builds?
It includes new utilities, better energy efficiency and often higher demand. Compare new builds only with new builds.
Sources
- Kadastra informācijas sistēma · Valsts zemes dienests
- Mājokļu cenu indekss (PCI050c) · Centrālā statistikas pārvalde
This article is for information only and is not legal, financial or tax advice. It may contain mistakes or be out of date, so check it against official sources or with a specialist before you decide. m²cena accepts no liability for any loss or damage arising from the use of the information in this article.