In short
- The price of building land per m² depends most on location: the closer to Riga, the higher it is.
- Farmland and forest land are priced per hectare, not per m².
- Road access, utilities and permitted building make the biggest difference.
- Compare with deals nearby, not with the average asking price.
Land price per m2: the overall picture
Building land is compared per square metre, farmland and forest land usually per hectare.
The price of building land per m² falls with distance from Riga: it is highest in the city, lower around Riga and lower still in regional towns and the countryside. For farmland and forest land, the soil, the region and access set the price.
Building land around Riga
Around Riga, building land is mostly bought to build a house. The price per m² depends most on the distance to Riga and on whether the village already has mains water and sewage.
What raises and lowers the price
- Permitted building in the spatial plan: residential land costs more than farmland
- A paved road that is cleared in winter
- Electricity, water and sewage at the boundary
- Plot shape and terrain: a narrow or wet plot is harder to build on
- Protection zones, nature reserves and flood risk
- Neighbours: dense housing, a factory or a highway next door
How to value a specific plot
- Find deals in the same village with a similar area and permitted building.
- Check whether the comparable plots had utilities. A plot without them is cheaper by the cost of connecting.
- Add the cost of the road and connections, then compare the totals.
What else to check before buying is in the article on buying land.
Cadastral value and market price
The cadastral value of land is meant for calculating tax. It often differs a lot from the market price, so it is not used to value a plot.
It is still a useful guide to future costs: the real estate tax (NĪN) you pay every year is calculated from it. More in the article on real estate tax.
Common questions
How much does land cost per m2 near Riga?
It differs a lot between villages. The distance to Riga, the road and whether there is mains water and sewage matter most, so compare with deals in the same village.
How much does a hectare of farmland cost?
The price depends on the soil, the region and access. Compare with deals in the same rural parish with similar land quality.
Why do neighbouring plots cost so differently?
Most often because one has a road and utilities and the other does not, or because the zoning plan allows different building.
Sources
- Kadastra informācijas sistēma · Valsts zemes dienests
- Ģeoportāls: teritorijas plānojumi · Latvijas ģeotelpiskās informācijas portāls
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.