Small apartments in Riga earn moderately good yields

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Gross rental yields, i.e., the gross return on investment in an apartment if fully rented out, in the centre of Riga are 5.23% for a 2-bedroom apartment. Such an apartment might cost around EUR 750 per month to rent, but around EUR 172,000 to buy.

These are pretty great yields. In the Old Town, our research suggests that a typical small apartment of 50 sq.m. can yield around 6.1% - not so bad.

In previous years our research suggested that the rents that people are prepared to pay in the centre for these larger apartments are less than they might be prepared to pay, say, in Jurmala, where the flats are mostly new.

The property market´s recovery began in 2010 and accelerated in 2011, then paused. But since 2016 there has been a significant rise in house prices in Riga.

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