Latvian housing prices have increased by 1.1% in a year. This data was published by the Central Statistical Bureau (CSB) of our country, which compared sales in mid-2024 and 2023. According to its calculations, new housing was 11.4% more expensive than a year ago, while secondary housing fell in price by 2%.

The m2 magazine and the varianti.lv portal continue to study with surprise this cheerful statistical picture that CSB representatives paint on the market of new projects.

The fact is that in the last year, many developers, motivating sales, either slightly reduced prices or carried out transactions, offering various bonuses.

Which would be very inappropriate if there was an increase in prices in real transactions with new apartments!

Current prices for Latvian housing are 97.6% higher than they were in 2015. This is also information from the CSB. New buildings now cost 2.1 times more than nine years ago, and secondary homes and apartments cost 92.4%.