Turkey, Russia, Portugal, and Latvia were the countries with the highest house price-to-rent-ratio in the ranking in the second quarter of 2024. In all three countries, the ratio exceeded 160 index points, meaning that house price growth had outpaced rents by over 60 percent between 2015 and 2024. What does the house-price-to-rent ratio show? The house-price-to-rent-ratio measures the evolution of house prices compared to rents. It is generally calculated by dividing the median house price by the median annual rent. In this statistic, the values have been normalized with 100 equaling the 2015 ratio. Consequentially, a value under 100 means that rental rates have risen more than house prices. When all OECD countries are considered as a whole, the gap between house prices and rents was wider than in the Euro area. Measures of housing affordability The national house-price-to-rent ratio may not fully reflect the cost of housing in a particular country, as it does not capture the price variations that can exist between different regions. It also does not take into consideration the relationship between incomes and housing costs, which is measured by the house-price-to-income and household-rent-to-income ratios. Taking both these factors into account uncovers vast differences in housing affordability between different regions and different professions.

Latvia House Prices: YoY: Dwellings: Existing data was reported at 8.800 % in Jun 2018. This records a decrease from the previous number of 10.800 % for Mar 2018. Latvia House Prices: YoY: Dwellings: Existing data is updated quarterly, averaging 6.800 % from Mar 2007 (Median) to Jun 2018, with 46 observations. The data reached an all-time high of 53.300 % in Mar 2007 and a record low of -41.100 % in Jun 2009. Latvia House Prices: YoY: Dwellings: Existing 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.

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.

Latvia - Housing cost overburden rate: Above 60% of median equivalised income was 1.50% 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: Above 60% of median equivalised income - last updated from the EUROSTAT on March of 2025. Historically, Latvia - Housing cost overburden rate: Above 60% of median equivalised income reached a record high of 6.60% in December of 2011 and a record low of 1.10% in December of 2022.

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.

Latvia - Median of the housing cost burden distribution: Males was 11.80% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Latvia - Median of the housing cost burden distribution: Males - last updated from the EUROSTAT on February of 2025. Historically, Latvia - Median of the housing cost burden distribution: Males reached a record high of 15.80% in December of 2011 and a record low of 10.20% in December of 2021.

The price per unit is forecast to experience significant growth in all segments in 2029. As part of the positive trend, the indicator achieves the maximum value across all two different segments by the end of the comparison period. Notably, the segment Major Appliances stands out with the highest value of 746.12 U.S. dollars. Find further statistics on other topics such as a comparison of the average volume per household in Kuwait and a comparison of the average volume per household in the United States. The Statista Market Insights cover a broad range of additional markets.

Latvia House Price Index: Dwellings: New data was reported at 201.510 2010=100 in Jun 2018. This records a decrease from the previous number of 206.900 2010=100 for Mar 2018. Latvia House Price Index: Dwellings: New data is updated quarterly, averaging 157.925 2010=100 from Mar 2006 (Median) to Jun 2018, with 50 observations. The data reached an all-time high of 206.900 2010=100 in Mar 2018 and a record low of 94.860 2010=100 in Mar 2010. Latvia House Price Index: 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.EB001: House Price Index: 2010=100.

Latvia Average Apartment Price: Riga: 2 Rooms data was reported at 861.000 EUR/sq m in Jan 2025. This records an increase from the previous number of 858.000 EUR/sq m for Dec 2024. Latvia Average Apartment Price: Riga: 2 Rooms data is updated monthly, averaging 776.500 EUR/sq m from Dec 2007 (Median) to Jan 2025, with 206 observations. The data reached an all-time high of 1,450.000 EUR/sq m in Dec 2007 and a record low of 485.000 EUR/sq m in Sep 2009. Latvia Average Apartment Price: Riga: 2 Rooms data remains active status in CEIC and is reported by Arco Real Estate. The data is categorized under Global Database’s Latvia – Table LV.EB004: Average Apartment Price: Riga. [COVID-19-IMPACT]

In 2023, the housing purchasing power across European real estate markets stood at 87 square meters. This means that the average affordable purchase area in these countries was 87 square meters. Latvia had the highest housing purchasing power at 152 square meters, while Poland had the lowest at only 48 square meters.

Latvia LV: Composition & Asset Quality: NPL & Advances at Amortised Cost: ow Commercial Real Estate data was reported at 0.000 EUR bn in Sep 2024. This stayed constant from the previous number of 0.000 EUR bn for Jun 2024. Latvia LV: Composition & Asset Quality: NPL & Advances at Amortised Cost: ow Commercial Real Estate data is updated quarterly, averaging 0.100 EUR bn from Sep 2019 (Median) to Sep 2024, with 21 observations. The data reached an all-time high of 0.100 EUR bn in Mar 2024 and a record low of 0.000 EUR bn in Sep 2024. Latvia LV: Composition & Asset Quality: NPL & Advances at Amortised Cost: ow Commercial Real Estate data remains active status in CEIC and is reported by European Banking Authority. The data is categorized under Global Database’s Latvia – Table LV.EBA: Non Performing Loans Ratio: Loans and Advances.

Latvia GDP: GVA: NACE 2: Real Estate data was reported at 785,724.000 EUR th in Dec 2024. This records a decrease from the previous number of 822,448.000 EUR th for Sep 2024. Latvia GDP: GVA: NACE 2: Real Estate data is updated quarterly, averaging 366,741.500 EUR th from Mar 1995 (Median) to Dec 2024, with 120 observations. The data reached an all-time high of 822,448.000 EUR th in Sep 2024 and a record low of 39,426.000 EUR th in Mar 1996. Latvia GDP: GVA: NACE 2: Real Estate 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.A013: ESA 2010: GDP: by Industry: Current Price.

Latvia LV: Labour Cost Index: BE: FI: Real Estate data was reported at 128.200 2016=100 in Dec 2019. This records an increase from the previous number of 124.500 2016=100 for Sep 2019. Latvia LV: Labour Cost Index: BE: FI: Real Estate data is updated quarterly, averaging 69.100 2016=100 from Mar 2000 (Median) to Dec 2019, with 80 observations. The data reached an all-time high of 132.300 2016=100 in Jun 2019 and a record low of 20.300 2016=100 in Mar 2000. Latvia LV: Labour Cost Index: BE: FI: Real Estate data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s Latvia – Table LV.Eurostat: Labour Cost Index: 2016=100.