|Last Updated: Jul. 04, 2014|
|RIGA CITY - Flats||COST (€)||YIELD (p.a.)||PRICE/SQ.M. (€)|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
|40 sq. m.||113,040||500||5.30%||2,826||12.49|
|75 sq. m.||160,800||737||5.50%||2,144||9.83|
|120 sq. m.||314,160||1,288||4.92%||2,618||10.73|
|RIGA SUBURBS - Flats|
|40 sq. m.||55,200||264||5.75%||1,380||6.61|
|75 sq. m.||105,075||494||5.64%||1,401||6.59|
|120 sq. m.||214,920||780||4.36%||1,791||6.50|
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 40 sq. m. apartment returns only a 5.30% rental yield. A 40-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 40-square metre (sq.m.) apartment in these areas costs around EUR 55,200 to buy, but could earn around EUR 260 monthly rental income. Property owners thus enjoy rental yields of 5.75%.
Prices of property have risen by around 5% over the past year in Riga. 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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