Riga, Sept 18 (LETA) - The average price of new project apartment transactions in the Riga region in the first half of 2025 was EUR 1,779 per square meter, which is 11 percent higher than in the second half of 2024, but compared to the first half of 2024 the average price of apartment transactions in 2025 was 15 percent higher, according to the latest serial apartment market report of the real estate company Arco Real Estate.

In the segment of new projects in the Riga area, the price growth was significantly higher than in Riga's residential districts, where prices in 2025 increased by only 4 percent, the report says. The prices of apartments in new projects in the Riga region were on average 20 percent lower than in Riga residential districts. The price differences between Riga and its surroundings are decreasing, as in 2024 prices differed by 26 percent on average, Arco Real Estate said.

Similarly to Riga's residential districts, where the number of apartment transactions in new projects increased by 36 percent in the first half of 2025, the number of apartment transactions in Riga's surrounding districts also increased significantly. The number of transactions increased by 28 percent compared to the second half of 2024, and by 39 percent compared to the first half of the same year. Compared to 2023, a similar number of transactions was recorded in 2025.

Arco Real Estate informed that in the first half of 2025 the most transactions of new project apartments were registered in Marupe district - 142. The number of transactions in this district increased compared to the previous year - 77 transactions were registered in the first half of 2024, and 180 transactions throughout the year. This year, the number of transactions in Marupe district is likely to be significantly higher, Arco Real Estate forecasts.

The second richest region in terms of transactions was Ropazi, where 94 transactions were registered in the first half of 2025, which is 47 percent more than in the same period last year. The third largest number of apartment transactions was registered in Kekava, where it was similar to the previous year. The smallest number of apartment transactions in new projects in the vicinity of Riga was in Saulkrasti municipality, and no significant changes were observed in this municipality either.

The highest average transaction price of apartments in new projects in the first half of 2025 was in Marupe municipality. In Marupe, apartment prices increased by 13 percent on average in 2025.

Analyzing the apartment transactions by the number of rooms in the apartment, Arco Real Estate concludes that in the Riga area in 2025 almost half of the transactions took place with three-room apartments (46 percent). Three-room apartments were the most popular in the Riga area, while two-room apartments dominated the transactions in both Riga residential districts and Riga city center in 2024. In the Riga area, the lowest number of transactions took place with one-room apartments (3 percent) and large-area (five rooms and more) apartments (5 percent).