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Jul 03, 2015

Property returns in Riga are moderate

Last Updated: Jul. 03, 2015
RIGA CITY - Flats COST (€) YIELD (p.a.) PRICE/SQ.M. (€)
45 sq. m. 113,760 496 5.23% 2,528 11.02
75 sq. m. 217,575 796 4.39% 2,901 10.61
120 sq. m. 362,640 1,286 4.26% 3,022 10.72
50 sq. m. 78,550 343 5.23% 1,571 6.85
120 sq. m. 185,880 826 5.33% 1,549 6.88
Districts researched:
Riga City: Old Town (Vecriga), City Centre
Riga Suburbs: Purvciems, Teika, Mezaparks, Vecmilgravis
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

In the centre of Riga, a 45 sq. m. apartment returns only a 5.2% rental yield. A 45-sq.m. apartment in the centre might cost around EUR 500 per month to rent, but around EUR 115,000 to buy.

The suburbs of Riga included in our research are Purvciems, Teika, Mezaparks and Vecmilgravis. A 50-square metre (sq.m.) apartment in these areas costs around EUR 78,000 to buy, but could earn around EUR 343 monthly rental income. Property owners thus enjoy rental yields of 5.2%.

The property market´s recovery began in 2010 and accelerated in 2011, but since then the market has been much quieter.

Round trip transaction costs are low to moderate in Latvia. See our Property transaction costs analysis for Latvia and Property transaction costs in Latvia, compared to the rest of Europe


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