Real Estate Market Review — September 2026
1,744 apartment purchases have been registered in Latvia for September so far. That number will still grow, because deals reach the register with a delay — so this month, again, the story is the price, not the volume.
The typical square metre bought in September cost €895, against €843 a year ago: 6.2% more. Unlike July and August, the rise no longer comes only from the cheap end of the market. The expensive deals are moving up too, and in Rīga new developments are getting dearer again after several quiet months.
The market is growing at both ends.
The month in numbers
| Measure | September 2026 | Against a year ago |
|---|---|---|
| Median, €/m² | 895 | +6.2% |
| Average, €/m² | 1,039 | +7.4% |
| Median price | €40,000 | +8.1% |
| Average price | €58,722 | +7.4% |
| Rīga, average €/m² | 1,454 | +9.1% |
| Deals | 1,744 | −17.0% * |
| Turnover | €102.4M | −10.8% * |
* The volume rows will still grow — see the last section.
Over the year the picture is steadier: from January to September 16,663 deals were registered, against 17,176 in the same period last year — 3.0% fewer. Turnover is slightly higher than last year, though: €981.1M against €974.3M.
The average flat price is 46.8% above the median — €58,722 against €40,000. The gap was smaller in August: this month there are more expensive deals pulling the average up. When you are looking for a flat of your own, the median is usually the number you need.
What moved
One-room flats are 21.2% dearer. The average price in September was €31,545, against €26,033 a year earlier.
This time two-room flats are rising with them: €50,024 on average, 13.2% more than last year. Three-room flats, at €85,253, are practically at last year's level (−0.5%).
For the third month running, the smallest flats are the ones getting dearer fastest.
September 2026 against September 2025. Only 14 five-room-plus flats sold in the month — that figure swings on a handful of deals.
In Rīga, both panel blocks and new developments are getting dearer. A square metre in a panel block cost €1,233, 8.1% more than a year ago.
In new developments it was €2,369, up 6.8%. In August, new-build prices were still standing still.
The gap between the two has widened again, to 92.1%. Across Latvia, new developments also make up a larger share of deals: 7.8% against 6.4% a year ago.
September 2026. Panel blocks +8.1% on a year ago, new developments +6.8%.
The whole price corridor is moving. The bottom quarter reached €442/m², 14.8% more than a year ago. The top quarter was €1,341/m², up 6.0%.
In August, the line for the dearest 10% had fallen over the year. In September it rose by 10.3%, and the line for the cheapest 10% by 23.3%.
There are fewer deals under €20,000 — 25.3% against 28.8% last year — and more over €200,000: 4.2% against 3.1%.
The cheap end is still growing faster, but this time it is not the only thing moving.
Jūrmala, and Ziepniekkalns again. Jūrmala's three-month average reached €1,308/m², 18.6% more than the same period a year ago, on 139 deals.
In Rīga, Ziepniekkalns shows the biggest rise for the third month running: €1,408/m², up 47.7% on a year ago, on 112 deals.
Both figures use a three-month window, to smooth out the swings of a single month.
Five Septembers in a row. In September 2022 the average square metre cost €827, in 2023 €859, in 2024 €895.
Then the climb sped up: €967/m² in September 2025 and €1,039/m² this year.
That is 25.6% since 2022, and the September average is now above €1,000 per square metre.
- Oct 24
- 744
- Jun 26
- 910
- Sep 26
- 895
Median, €/m². One point per month.
Where it shows
Rīga registered 844 deals in September — 48.4% of all of Latvia; a year ago its share was 50.0%. The median in Rīga was €1,183/m².
Outside Rīga the price level is very different:
- Jūrmala — €1,193/m²
- Liepāja — €792/m²
- Jelgava — €694/m²
- Ventspils — €516/m²
- Daugavpils — €380/m²
These are medians.
Liepāja is one of the few towns with more deals in September than a year ago — 89 against 83 — and its average price is up 13.6% over the year.
Parishes and villages saw 234 deals in September, at €454/m² on average, 1.6% more than a year ago.
Within Rīga the differences are large too: the three-month average in the Centre reached €2,432/m², in Vecmīlgrāvis €775/m² — about 3.1 times apart within one city.
The full price curve for every town since 2012 is in Apartment prices in Latvia — those figures update on their own and are not tied to this month.
If you are looking for a one- or two-room flat, your segment is rising well ahead of the market as a whole this year.
What to do with it
Compare your segment, not the country. If you are buying a one-room flat, the number you need is the one-room figure — €927/m² on average — not the market as a whole. For the third month running, the two tell different stories.
The asking price is not the deal price. Everything in this review is what deals actually closed at. An asking price can sit higher for months, and the gap between the two is your material for negotiating with the seller.
In a smaller town, look at three months, not one. Below 30 deals a month, a couple of unusual purchases can move the average or the median a long way. A three-month window gives a steadier picture, because it rests on more deals.
How these numbers are worked out
The figures come from state-registered property deals — what properties actually sold for, not asking prices. Only apartment purchases are included: houses, land and commercial property are not. Each deal counts as the sale of one whole flat; shares of a property and single sales split across several records are excluded.
The date is the registration date, not the signing date, and the register fills a month in with a delay. So the number of deals and the turnover will keep growing for several weeks after this review is published. For example, the August review counted 1,635 deals for August; the register now holds 1,909. The delay barely touches the price figures but does move the volume ones — which is why this review leads with price, not volume.
Towns with fewer than 30 deals a month and Rīga's neighbourhoods are shown on a three-month window.
Prices for every town and hundreds of individual addresses are in Apartment prices in Latvia. To weigh up a specific listing, use the full property analysis.