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Modest growth in Latvian real estate prices

LETA, Paula Čurkste
June 14, 14:19
Economy
Authors: Eng.LSM.lv (Latvian Public Broadcasting)

Provisional data published by the Central Statistical Bureau (CSB) June 14 show that, over the last year Latvian real estate prices have shown modest growth overall.

Compared to the 1st quarter of 2023, in the 1st quarter of 2024 prices of dwellings rose by 3.7 %.

Prices of new dwellings increased by 11.1 %, while the average price level of existing dwellings rose by just 1.2 %.

Compared to the 4th quarter of 2023, in the 1st quarter of 2024 prices of dwellings went up by 2.7 %. Prices of new dwellings fell by 1.9 %, but prices of existing dwellings increased by 4.0 %.

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Compared to 2015, in the 1st quarter of 2024 prices of dwellings were 93.2 % higher. Prices of new dwellings increased by 97.6 %, but of existing dwellings – by 91.4 %, so over the decade real estate owners will likely see their assets double in value.

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