Graph and download economic data for Real Residential Property Prices for Latvia (QLVR628BIS) from Q1 2006 to Q1 2025 about Latvia, residential, HPI, housing, real, price index, indexes, and price.

Housing Index in Latvia increased to 204.29 points in the first quarter of 2025 from 201.90 points in the fourth quarter of 2024. This dataset provides - Latvia House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about House Prices Growth

• Latvia house prices grew 17.3% YoY in Mar 2022, following an increase of 16.1% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2007 to Mar 2022, with an average growth rate of 7.8%.
• House price data reached an all-time high of 49.6% in Mar 2007 and a record low of -42.3% in Jun 2009.

Residential Property Prices in Latvia increased 5.77 percent in March of 2025 over the same month in the previous year. This dataset includes a chart with historical data for Latvia Residential Property Prices.

The Direct Real Estate Activities industry have come up against numerous headwinds in recent years, ranging from the COVID-19 outbreak in 2020 to the high base rate environment in the years since, which has inflated borrowing costs for potential buyers. This is a sharp contrast to the ultra-low interest environment seen over the decade following the 2008 financial crisis. Still, revenue is forecast to edge upwards at a compound annual rate of 0.6% over the five years through 2025 to €622.9 billion, including an anticipated rise of 0.8% in 2025. Despite weak revenue growth, profitability remains strong, with the average industry profit margin standing at an estimated 18.9% in 2025. Central banks across Europe adopted aggressive monetary policy in the two years through 2023 in an effort to curb spiralling inflation. This ratcheted up borrowing costs and hit the real estate sector. In the residential property market, mortgage rates picked up and hit housing transaction levels. However, the level of mortgage rate hikes has varied across Europe, with the UK experiencing the largest rise, meaning the dent to UK real estate demand was more pronounced. Commercial real estate has also struggled due to inflationary pressures, supply chain disruptions and rising rates. Alongside this, the market’s stock of office space isn’t able to satisfy business demand, with companies placing a greater emphasis on high-quality space and environmental impact. Properties in many areas haven't been suitable due to their lack of green credentials. Nevertheless, things are looking up, as interest rates have been falling across Europe over the two years through 2025, reducing borrowing costs and boosting the number of property transactions, which is aiding revenue growth for estate agents. Revenue is slated to grow at a compound annual rate of 4.5% over the five years through 2030 to €777.6 billion. Economic conditions are set to improve in the short term, which will boost consumer and business confidence, ramping up the number of property transactions in both the residential and commercial real estate markets. However, estate agents may look to adjust their offerings to align with the data centre boom to soak up the demand from this market, while also adhering to sustainability commitments.

The reports are updated once a month, taking into account the current market information collected in the database, which is updated daily. Each report is offered for three different time periods — annual, half-year and quarter. The choice of “year” means that the report is presented for the previous two full years, for the “half year” for the two previous half-years and for the previous two quarters. The years change on 1 February, half-years change on 1 February and 1 August, and quarters on 1 February, 1 May, 1 August and 1 November. _ The statistical indicators of the Latvian real estate market are composed of:_ * Apartment transaction prices; * Transaction prices of individual residential houses; * Individual building land transaction prices; * Commercial building land transaction prices; * Prices of industrial enterprises building land transactions; * Agricultural land transaction prices; * Forestry land transaction prices; * Breakdown of transactions by purpose of real estate use of the transaction object; * Breakdown of transactions by transaction object. Statistic indicators: * Number of transactions used; * Minimum value; * Maximum value; * Average value; * Cut-off mean (5 %); * Cut-off mean (10 %); * Moda (adjusted the most common value based on the breakdown of data in intervals and frequencies within the specified intervals); * Median; * Price level. _Data sets with the breakdown of transactions by transaction object NIP and the breakdown of transactions by object of the transaction _ are reflected in one of the statistical indicators (the title specifies which): * Number of transactions; * Total land area; * Total amount of transactions. Projects of transactions: * Apartments; * Buildings; * Buildings and engineering structures; * Engineering structures; * Groups of premises; * Land; * Land with buildings; * Land with buildings and engineering structures; * Land with engineering structures. The tables show only areas where the number of transactions to be used to determine values is at least three. Published data are informative in nature and are produced automatically without manual transaction analysis. The SLS assumes no legal or financial responsibility for the consequences of using the published information and making the relevant conclusions. All transaction amounts and prices are in EUR. Information on the possibility to obtain data on real estate market transactions and transaction objects is available on the VZD website.

This data set represents real estate market announcements monitoring data in Latvia in 2023. The data was collected from online ads site ss.com. The database contains 209,9 thousand ads and consists of 24 groups of data (type of deal, price, characteristics and address of real estate, etc.). The data reflects the dynamics of price changes by months (at the beginning of the month) in 2023. Monitoring continued in 2023 was started in 2018. In 2023 the new impuls of data application was found. It is associated with the possibility of planning the urban environment taking into account the transition of transport to environment friendly fuel types.

Real residential property prices Y-on-Y, percent change in Latvia, December, 2024 The most recent value is 5.41 percent as of Q4 2024, an increase compared to the previous value of 4.25 percent. Historically, the average for Latvia from Q1 2007 to Q4 2024 is 0.72 percent. The minimum of -44.86 percent was recorded in Q2 2009, while the maximum of 39 percent was reached in Q1 2007. | TheGlobalEconomy.com

This statistic illustrates the investment volume in the commercial property market in Riga, Latvia, from 2013 to 2019. It can be seen that between the period of 2016 and 2017 the investment volume decreased by *** million euros, to a total of *** million euros in 2017. In 2019, the investment volume reached *** million euros, an increase of ** million euros compared to the previous year.

Latvia House Prices: YoY: Dwellings: New data was reported at 8.200 % in Jun 2018. This records a decrease from the previous number of 14.600 % for Mar 2018. Latvia House Prices: YoY: Dwellings: New data is updated quarterly, averaging 8.300 % from Mar 2007 (Median) to Jun 2018, with 46 observations. The data reached an all-time high of 56.200 % in Sep 2011 and a record low of -47.300 % in Jun 2009. Latvia House Prices: YoY: Dwellings: New data remains active status in CEIC and is reported by Central Statistical Bureau of Latvia. The data is categorized under Global Database’s Latvia – Table LV.P002: House Prices: YoY.

In the cadastre information system, for the purposes of cadastral valuation, the SLS maintains the Real Estate Market Database, which is larger in Latvia. Transactions with real estate, which are registered in the State Unified Computerised Land Register, are accumulated in the database. Real estate market data are published as denormalised text data (*.csv and *xlsx format files) containing information on real estate transactions registered in the Real Estate Market Information System from 2012 onwards. Data are updated once a month, on the 10th day of the calendar month (or on the next working day if it falls on a public day or a holiday More information about the opening of the Real Estate Market Database is available on the VZD website: https://www.vzd.gov.lv/lv/NITIS-datu-atversana

Latvia - Housing cost overburden rate: Tenant, rent at market price was 16.00% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Latvia - Housing cost overburden rate: Tenant, rent at market price - last updated from the EUROSTAT on July of 2025. Historically, Latvia - Housing cost overburden rate: Tenant, rent at market price reached a record high of 19.40% in December of 2023 and a record low of 8.30% in December of 2019.

Latvia is fast emerging as a Baltic startup hub, fuelled by the favorable business conditions, low tariff rates and rising investments. This has augured well for its rental and operating of own or leased real estate market, with revenues witnessing a rise from 817 million U.S. dollars in 2011 to 1.1 billion U.S. dollars in 2019. In fact, most of the consumers are increasingly looking to rent rather than buy properties, owing to the high prices of residential and commercial properties. This is one of the main reasons the buying and selling of own real estate market has been declining in the country. As of 2018, the average monthly rental cost for apartments in the capital city of Riga amounted 862 U.S. dollars, amongst the lowest in the EU. Hotels starting to feel the pinch With companies such as Airbnb continuing to expand, Hotels in Latvia are starting to feel the effect. As per details from Lsm.lv, the online marketplace company offers apartments in the capital city of Riga for as much as 12 euros per night, which has led to a surge in demand over the years.

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, notably rising interest rates, spiralling inflation and muted economic growth. Revenue is projected to sink at a compound annual rate of 0.6% over the five years through 2025, including an estimated jump of 1.2% in 2025 to €207.6 billion, while the average industry profit margin is forecast to reach 35.1%. Amid spiralling inflation, central banks across Europe ratcheted up interest rates, resulting in borrowing costs skyrocketing over the two years through 2023. In residential markets, elevated mortgage rates combined with tightening credit conditions eventually ate into demand, inciting a drop in house prices. Rental markets performed well when house prices were elevated (2021-2023), being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent prices to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. However, this has started to turn around in 2025 as interest rates have been falling across Europe in the two years through 2025, reducing borrowing costs for buyers and boosting property transactions. This has helped revenue to rebound slightly in 2025 as estate agents earn commission from property transactions. Revenue is forecast to swell at a compound annual rate of 3.7% over the five years through 2030 to €249.5 billion. Housing prices are recovering in 2025 as fixed-rate mortgages begin to drop and economic uncertainty subsides, aiding revenue growth in the short term. Over the coming years, PropTech—technology-driven innovations designed to improve and streamline the real estate industry—will force estate agents to adapt, shaking up the traditional real estate sector. A notable application of PropTech is the use of AI and data analytics to predict a home’s future value and speed up the process of retrofitting properties to become more sustainable.

Graph and download economic data for Harmonized Index of Consumer Prices: Actual Rentals for Housing for Latvia (CP0410LVM086NEST) from Jan 1996 to Jun 2025 about Latvia, harmonized, rent, CPI, housing, price index, indexes, and price.

The revenues of the buying and selling of own real estate sector in Latvia are projected to decline from 275 million U.S. dollars in 2015 to 189 million U.S. dollars by 2023. This can be attributed to the high prices of residential and commercial properties, which have resulted in weak demand. In fact, the house price index has been rising steadily and stood at 130 index points in the quarter ending June 2018, much higher as compared to the European average. As a result, consumers are increasingly turning towards rental properties, which is one of the main reasons the revenues of the rental and operating of own or leased real estate sector are projected to grow 55 percent between 2010-2022. In 2018, the average monthly rental cost for apartments in the capital city of Riga amounted 862 U.S. dollars, amongst the lowest in the EU. With the outbreak of the corona virus, housing sales are projected to decline further in the short to medium term, as consumers are expected to curtail their discretionary spending.

The financial crisis of 2008 has caused a number of changes in the investment of both companies and individuals. One of the widely invested assets became the real estate market. The decline in real estate prices was noted in 2009 and 2012-2014. The highest decrease in property prices was indicated in Bulgaria, Ireland, Lithuania, Latvia, Slovakia and Estonia. Property prices, despite the crisis, increased however in Belgium and Germany. On average, property prices in the EU declined by 4.4% in 2009, 1.9% in 2012 and 1.2% in 2013.

Graph and download economic data for Harmonized Index of Consumer Prices: Other Services Relating to the Dwelling N.e.c. for Latvia (CP0444LVM086NEST) from Jan 1996 to May 2025 about Latvia, harmonized, services, CPI, housing, price index, indexes, and price.

Latvia - Severe housing deprivation rate: Tenant, rent at market price was 15.30% in December of 2023, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Latvia - Severe housing deprivation rate: Tenant, rent at market price - last updated from the EUROSTAT on July of 2025. Historically, Latvia - Severe housing deprivation rate: Tenant, rent at market price reached a record high of 40.00% in December of 2007 and a record low of 15.30% in December of 2023.

Over the past few years, real estate activities, especially in the rental and operating of own or leased real estate market have witnessed a rise in Latvia, owing to the low rental costs for apartments, which at 862 U.S. dollars per month are amongst the least in Europe. The office real estate market is also going strong, with eight new office projects completed in Riga in 2019 and six more scheduled for the financial year 2020-2021.This has augured well for the real estate agencies and related services, with revenues projected to increase from 308 million U.S. dollars in 2011 to 375 million U.S. dollars by 2020. The Ober-Haus Real Estate Advisors is one of the largest real estate agency operating not only in Latvia, but across the Baltic region. However, the agencies are set to face stiff competition in the short to medium term, with the growth in various desktop and mobile apps that enable buyers to connect directly. This is one of the main reasons the market is falling in countries such as Italy and Poland.