Real Estate Market Review — July 2026
1,828 apartment purchases were registered in Latvia in July — 5.9% more than in June. Volume is not this month's story, though.
The typical square metre bought in July cost €913; a year ago it was €839. The rise is real, but it is not evenly spread: one-room flats are a fifth more expensive than a year ago, while three-room flats have slipped slightly. The market is growing from the bottom.
The month in numbers
| Metric | July 2026 | Year on year |
|---|---|---|
| Median, €/m² | 913 | +8.9% |
| Mean, €/m² | 1,033 | +5.8% |
| Median price | €40,000 | +5.3% |
| Mean price | €59,213 | +2.4% |
| Rīga, median €/m² | 1,148 | +1.1% |
| Deals | 1,828 | −11.2% * |
| Turnover | €108.2 M | −9.1% * |
* The volume rows will still grow — see the last section.
The median and the mean sit side by side here deliberately. The median is the typical deal: half dearer, half cheaper. The mean is 13% higher, because a few dozen expensive purchases pull it up. When someone says "a flat costs a thousand a square metre", they are quoting the mean — but when you are looking for your own flat, the median is the number you want.
What moved
One-room flats — a fifth dearer. €30,976 on average against €25,793 in July last year, +20.1%. Three-room flats over the same year: €82,839, 3.9% cheaper. Two segments in one market moving in opposite directions — and the national average hides it completely.
July 2026 against July 2025. Only 20 five-room-plus flats sold in the month — that figure swings on a handful of deals.
Both ends of the corridor are moving. The bottom quartile is at €448/m², +17.6% on the year; the top at €1,353/m², +7.0%. This matters more than it looks: when only one end moves, it was the edge of the market that moved. When both move, the whole market did.
In Rīga the building matters more than the district. A square metre in a Soviet-era panel block cost €1,170; in a new development, €2,223. A 90% gap for the same square metre, often on the same street. Before you compare two prices, make sure you are comparing two similar buildings.
July 2026. One city, often one street.
The biggest jump — Daugavpils. €384/m² over the last three months, +21.6% against the same quarter a year ago, across 246 deals. In Rīga the mover was Ziepniekkalns: €1,412/m², +43.0%, 116 deals. Both are three-month windows — a single month in a smaller place swings on a handful of deals.
Outside the towns — €471/m², +20.9%. Rural parishes and villages accounted for 265 deals in July, 14.5% of the national total. That is the fastest rise of any major cut this month, and it comes from the same end the bottom quartile points at: people are buying the cheapest third. The average rural flat is 56.5 m² — larger than the average urban one.
The middle of the market, meanwhile, is thinning at both ends: deals under €20,000 are 25.4% against 28.7% a year ago, but so are deals over €200,000 — 3.2% against 3.7%. Money leaving the cheap end is not arriving at the expensive one; it stops in the middle.
Where you can see it
Rīga produced 901 deals in July, 49.3% of the country. The median there is €1,148/m².
Outside Rīga the scale is different altogether: Liepāja €792/m², Jelgava €824, Ventspils €586, Daugavpils €384. And within Rīga itself the spread is nearly as wide as between cities — Centrs at €2,522/m² against Vecmīlgrāvis at €790/m², a factor of 3.2 inside one city.
The full curve for every city since 2012 is in apartment prices in Latvia — those figures update on their own and are not tied to this month.
An average price for Latvia is no flat's price. It is the distance between two markets that both happen to be here.
What to do with it
Compare your segment, not the country. If you are buying a one-room flat, the number that applies to you is the one-room figure — €859/m² on average — not the national one. This year the two say opposite things.
The asking price is not this price. Everything in this review is what a deal actually closed at. The price in a listing can sit above it for months — the gap between the two is your negotiating material.
In a small town, read three months, not one. Below 30 deals a month, a couple of expensive purchases move the average on their own. A three-month window is the same measure with three times the sample.
How these numbers are calculated
The figures come from registered transactions — from what was actually bought, not from listings. Only apartment purchases are included: houses, land and commercial property do not appear here. Each deal is one whole flat; fractional shares and single sales split across several records have been removed.
The date is the registration date, not the signing date, and the register fills a month in with a lag. That is why the deal count and turnover will keep growing for several weeks after this is published — in the next review, those same July figures will be higher. The lag barely touches the price measures; it does move the volume ones. That is exactly why the headline is a price, not a count.
Cities with fewer than 30 deals in a month are shown on a three-month figure.
Prices for every city and for hundreds of individual addresses — apartment prices in Latvia. For a specific listing — the full analysis.