Gross rental yields in Latvia: Riga and Jūrmala

The average gross rental yield in Latvia (Riga) stands at 8.06% (2024, Q2). Previously, in Q3, 2023 the average gross rental yield stood at 7.81%.

  • Riga
  • Jūrmala
  Last Updated: Aug. 30, 2023
RIGA - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Centrs  
Studio €74,790 €450 7.22%
1-Bedroom €119,800 €650 6.51%
2-Bedroom €222,700 €1,150 6.20%
3-Bedroom €339,000 €1,800 6.37%
4+Bedroom €369,000 €2,000 6.50%
Agenskalns  
Studio €62,560 €290 5.56%
1-Bedroom €104,460 €900 10.34%
2-Bedroom €174,700 €1,700 11.68%
Vecriga  
1-Bedroom €180,000 €900 6.00%
2-Bedroom €289,000 €1,000 4.15%
3-Bedroom €390,000 €2,500 7.69%
All Locations  
Studio €53,295 €480 10.81%
1-Bedroom €105,205 €680 7.76%
2-Bedroom €173,500 €1,150 7.95%
3-Bedroom €240,000 €1,800 9.00%
4+Bedroom €370,000 €2,100 6.81%
Riga avg. Rental Yields 8.47%
JŪRMALA - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
All Locations  
Studio €39,500 €300 9.11%
1-Bedroom €160,000 €1,200 9.00%
2-Bedroom €295,000 €1,600 6.51%
3-Bedroom €399,000 €2,000 6.02%
Jūrmala avg. Rental Yields 7.66%
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: Global Property Guide and City24
Latvia´s Historic Rental Yield Data

Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the capital city of Latvia (Riga). We used the local website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).

For instance, if the monthly rent is €500 and the purchase price is €100,000, the calculation would be: €500 (Monthly Rent) x 12 / €100,000 (Purchase Price) = 6% (Gross Rental Yield).