Riga, Jan 8 (LETA) - The average price of standard apartments in Riga rose by 4.1 percent last year, reaching EUR 887 per square meter in December, according to the latest serial apartment market report of the real estate company Arco Real Estate.

In Riga's largest residential districts, prices have increased by 2-8 percent since the beginning of 2025. The biggest changes in apartment prices can be observed in Jugla neighborhood, where they increased by 8 percent last year. Also in Imanta and Kengarags, the increase in prices of standard-type apartments has been high - prices have increased by 6 percent on average.

In other Riga residential districts price changes did not exceed 5 percent last year. The smallest changes in apartment prices were observed in the most expensive residential area - Teika, as well as in Zolitude.

The report also states that in December 2025, the average price of a standard apartment in Riga was 45 percent lower than on July 1, 2007, when the average price of an unrenovated standard apartment reached an all-time high of EUR 1,620 per square meter.

The average price per square meter in December increased by 0.3 percent for one- and two-room apartments, by 0.4 percent for three-room apartments and by 0.1 percent for four-room apartments. Since the beginning of 2025, the price of two-room apartments has increased the most - by 4.9 percent.

In December, compared to November, an increase in the average price of apartments could be observed in almost all of Riga's largest residential districts. The largest increase in the average price was observed in Vecmilgravis, where prices rose by more than 1 percent during the month. In Jugla, Ziepniekkalns and Zolitude no price changes were observed in the last month of the year.

The highest prices of standard-design apartments in December were in Teika, where the average price per square meter rose to EUR 1,088 per square meter. The lowest average price in December was in Bolderaja, at EUR 679 per square meter, which also increased compared to the previous month.