The Jūrmala Prime Property Market in 2026: Where the Market Stands Today and How Buyers Should Act

The figures in this article are based on public data on transactions registered with the Land Register and on publicly available market reviews for 2025. Two points are worth keeping in mind. First, the term "premium" is defined differently across reviews — typically apartments from EUR 150,000, private houses from EUR 350,000 and building land from EUR 150,000 — but these thresholds vary. Second, some figures cover Latvia as a whole (Riga, the Riga region and Jūrmala combined), while others relate to Jūrmala alone; the text distinguishes between the two. This distinction matters, because the number of transactions in the high price segment is small and a few large deals can noticeably shift the averages.

Why Jūrmala retains its special position

Jūrmala is a resort city within the European Union, with direct access to the sea, pine forests and developed infrastructure roughly half an hour from Riga. This combination creates a structural advantage: the number of prime coastal locations is physically limited, and virtually no new front-line plots remain. It is precisely this constrained supply in the best locations that helps preserve property values over the long term.

In recent years the buyer profile has shifted and prices have corrected, while lending rates first rose sharply and then began to fall. 2025 was the first year after a prolonged period of stagnation in which several market segments posted positive momentum simultaneously.

Overall market dynamics

In the standard-type apartment segment, 466 transactions were registered in Jūrmala in 2025 — the highest figure in the past ten years, exceeding the 2017 peak of 453 transactions. Compared with 2024 (361 transactions), this represents growth of 29%, while the total value reached EUR 23 million against EUR 17.7 million in 2024. It should be stressed that 68% of these transactions were concentrated in Kauguri — a mass-market rather than a premium segment — so the overall count cannot be treated as an indicator of prime market activity.

On a broader scale, the combined value of premium transactions in Riga, the Riga region and Jūrmala exceeded EUR 250 million in the first half of 2025, outpacing the corresponding period of 2024 by roughly 28% and marking one of the strongest results of recent years. An important contextual point: premium activity is no longer concentrated in Jūrmala alone, as the Riga region market has also grown in recent years. Even so, Jūrmala continues to record the highest average transaction values in the villa segment.

The macroeconomic environment supported this growth: inflation stabilised in the range of roughly 3.5–4%, while the annual percentage rate on housing loans had fallen to approximately 4.3% by mid-2025 and continued to ease moderately over the course of the year. Financing costs in the Baltics remained higher than the euro area average, but the downward trend improved buyer sentiment.

Private houses and residences

The private house segment staged a striking return to activity in 2025: 151 transactions were registered in total — 61% more than in 2024 (94 transactions). The typical format of a premium house in Jūrmala is described by average parameters of a 211 m² building on a 1,678 m² plot. The combined value of transactions in this segment reached EUR 52.7 million in 2025.

Territorial differentiation is pronounced: along the stretch from Dubulti to Lielupe the average transaction price was EUR 2,417/m², while along the Asari–Melluži stretch it was EUR 1,490/m². The most expensive deals are concentrated in Bulduri and Lielupe, close to the beach. The highest registered transaction was EUR 2,800,000, or EUR 7,630/m² (a 367 m² building on a 1,721 m² plot in Bulduri); the second was EUR 1,600,000, or EUR 5,344/m² in Lielupe. Ten transactions took place in the EUR 1–2.8 million range, and fifteen in the EUR 500,000–1,000,000 range.

The number of listings in public databases shrank towards the end of 2025, and the number of exclusive offers declined as well. As a result, the choice of quality properties in the best locations is now narrower than it was a few years ago — the most exclusive of them are gathered in the VIP section.

Apartments in new developments

Around 218 transactions were registered in Jūrmala's new-development segment in 2025 (apartments and serviced apartments combined). The average price of apartments rose to EUR 2,336/m², up from EUR 2,070/m² in 2024. The most popular price category ran from EUR 2,400 to EUR 3,100/m². Prices in exclusive developments reach EUR 4,600–7,800/m², while individual one-of-a-kind properties exceed EUR 10,000/m².

The most expensive registered transaction was an apartment on Bulduru Avenue — 228 m² with a 143 m² terrace — for EUR 1,100,000, or EUR 4,868/m². The second largest was an apartment on Dzintaru Avenue close to the sea, 210 m² with a 110 m² terrace, for EUR 904,000, or EUR 4,304/m². Current listings at this level are collected in the apartments section.

In the top price tier (above EUR 500,000) the number of transactions is small, so the statistics are volatile: in the first half of 2025 the volume of this segment in Jūrmala was comparatively low (around EUR 1.5 million), yet the average price per square metre in this group exceeded EUR 5,000/m². This confirms that the top tier of the market remains selective and focused on unique properties.

Land plots

Land remains the most modest segment in terms of transaction numbers. Around 44 building-land transactions were registered in Jūrmala in 2025, totalling EUR 6 million, and the average price in this segment — pulled down by geographically inexpensive deals — was EUR 52/m².

The picture in the premium sub-segment is different. According to the half-year premium review, only a handful of high-value land transactions were recorded in Jūrmala, with an average value of approximately EUR 480,000, an average plot size of 1,986 m² and an average price of roughly EUR 242/m². These premium figures should not be conflated with the averages for the land segment as a whole, which are considerably lower.

The price corridor for building land at the end of 2025: EUR 350–550/m² along the Dubulti–Lielupe seafront; EUR 87–230/m² in Majori–Bulduri beyond the railway; and noticeably higher in exclusive coastal locations.

Price corridor in the premium segment

Profile of international buyers

The change in buyer profile is one of the most significant structural shifts of recent years. The formerly strong flow of demand from certain eastern market groups has weakened, and other client segments have become more active in its place: international clients resident in the European Union or other Western countries, including the United States, Canada and the United Kingdom. Steady demand also comes from Lithuania and Estonia, in both the rental and the purchase segments. Ukrainian buyers are active in the price category of around EUR 250,000–300,000.

According to data on the client structure of the premium market, international buyers and tenants accounted for approximately 28% of transactions. A substantial share of buyers in the million-euro segment consists of financially strong local clients and foreign nationals with European Union status; in the EUR 250,000–500,000 segment, buyers combining personal funds with bank financing are playing a growing role. Some of these clients consider not only housing but also commercial property as a way of diversifying their investments.

Comment from a VIP REAL expert

Ilvars Viņķis, partner at VIP REAL with almost 20 years of experience in the Jūrmala house and land market:

"Assessed objectively, the situation over the past few years has been reasonably good. There are no queues of clients, but those who do come to us are purposeful. The real challenge is still pricing: no more than roughly one in ten sellers initially values their property objectively. When the price is reasonable, a buyer is found. Transactions increasingly close at prices near objective market value — and anyone who wants to sell needs to factor that in."

The outlook for the next 12 months

Any forecast depends on the macroeconomic and geopolitical environment, which is a particularly significant factor in the Baltics.

In the EUR 150,000–500,000 segment, steady activity is expected, with the possibility of gradual price growth and increasingly active use of mortgage financing. Shrinking supply (public listings of standard-type apartments have fallen by roughly 48%, and those in new developments by roughly 38%) may create upward pressure on prices, but without substantial additional demand a sharp price jump is unlikely.

In the segment above EUR 1,000,000, activity will most likely remain selective but stable. Overpriced properties may sit on the market for a long time, while realistically priced unique properties on the coastal front line continue to find buyers.

The rental market for exclusive houses went through a price correction in the summer of 2025; how it develops from here will depend on seasonal demand and the activity of international clients. Building land in premium locations remains a limited resource — there are virtually no new plots along the Dubulti–Lielupe coast, transaction numbers will stay low, but the financial scale of each individual deal can be considerable.

The overall assessment is cautiously positive: barring extraordinary shocks, premium segment activity may hold at a level similar to 2025.

What this means for buyers and investors

The Jūrmala premium market in 2026 is neither a speculative bubble nor a stagnant market. It is a selective market with limited quality supply, steady local and partly international demand, and structural supply constraints that help preserve value over the long term. The premium locations — Lielupe, Bulduri, Dzintari and Dubulti — retain their fundamental appeal regardless of short-term fluctuations.

At the same time, the risks deserve attention: the segment is comparatively narrow and less liquid, so selling a particular property may take time; the market is sensitive to the geopolitical and macroeconomic environment; seasonality affects both rental yields and demand; and a unique location alone does not guarantee a favourable deal if the price, technical condition or legal status fails to meet market expectations.

A purchase in Jūrmala should therefore be treated as a long-term decision rather than a quick speculative transaction. For those considering a purchase for personal use or as a long-term investment, current conditions are more favourable than they were three or four years ago — though this does not guarantee further price growth. The best decision always rests on an analysis of the specific location, property and transaction terms, not on general market sentiment.

Need an assessment of a specific property, or a shortlist matched to your budget? Get in touch with the VIP REAL team — we will assess liquidity, review the documents and support the transaction at every stage.