RIGA, April 1 (LETA) - Last year, the average prices for residential land plots in the vicinity of Riga increased by 4 percent in 2025, according to the latest market report released by real estate company Arco Real Estate.

At the same time, the report notes that in 2024, the average price increased by 18 percent.

Meanwhile, activity in the residential land plot market in Riga's vicinity decreased as the number of transactions dropped by 7 percent from 2024. Last year, 865 residential land transactions were registered in the Riga area.

The highest number of transactions in residential land plots in the Riga area in 2025 was registered in the price range up to EUR 10 per square meter. In this price range, a quarter of the transactions (64 transactions) were recorded in Kekava Municipality.

A relatively high number of transactions also took place in the price range between EUR 10 and 20 per square meter. The highest number of transactions in this price range was recorded in Salaspils Municipality.

In 2025, the majority of transactions, or 53 percent, in the Riga area were recorded in the price range of up to EUR 20 per square meter. However, the number of transactions at a price of up to EUR 20 per square meter decreased proportionally compared to 2024, according to Arco Real Estate.

A relatively high number of transactions was recorded in the medium price range of EUR 20-30 per square meter and EUR 30-40 per square meter, while the number of transactions in the price category of EUR 40 per square meter and above was significantly lower.

According to Arco Real Estate, in 2025, 14 transactions in the Riga area exceeded the EUR 80 per square meter mark. The number of such transactions increased compared to 2024. Almost all transactions of residential land plots at such a high price were recorded in Marupe and in Pinki, Babite Municipality. One transaction in this price category was registered in Adazi and one in Kekava. In other municipalities around Riga, no transactions for a price above EUR 80 per square meter were registered in 2025.