Latvia House Prices, Rents & Rental Yields (2026)
How much property costs in Latvia, what it rents for and how that compares with neighbouring markets in Northern Europe. City-centre prices per m² rank 10 of 10 in this comparison; gross yields rank 5 of 10.
- Apartment price per m² (city centre)
- $2,561
- 2023
- Apartment price per m² (outside centre)
- $1,586
- 2023
- Gross rental yield (city centre)
- 4.0%
- 2024
- Price-to-income ratio
- 9.4
- 2024
- Rent: 1-bedroom, city centre
- $494/mo
- 2024
- Mortgage interest rate (20-year fixed)
- 4.3%
- 2023
Price and rent trends in Latvia
Latest property market indicators
| Indicator | Value | Year | Change | Source |
|---|---|---|---|---|
| Apartment price per m² (city centre)Average asking price per square metre to buy an apartment in city centres | $2,561 | 2023 | +1.4% vs 2022 | Numbeo |
| Apartment price per m² (outside centre)Average price per square metre to buy an apartment outside city centres | $1,586 | 2023 | +0.4% vs 2022 | Numbeo |
| Price-to-income ratioMedian apartment price divided by median annual disposable family income | 9.4 | 2024 | +16.0% vs 2023 | Numbeo |
| Gross rental yield (city centre)Annual rent as a percentage of purchase price, city-centre apartments | 4.0% | 2024 | -0.3 pp vs 2023 | Numbeo |
| Price-to-rent ratio (city centre)Purchase price divided by annual rent, city-centre apartments | 25 | 2024 | +8.2% vs 2023 | Numbeo |
| Rent: 1-bedroom, city centreAverage monthly rent of a one-bedroom apartment in the city centre | $494/mo | 2024 | -6.1% vs 2023 | Numbeo |
| Rent: 1-bedroom, outside centreAverage monthly rent of a one-bedroom apartment outside the centre | $335/mo | 2023 | +0.8% vs 2022 | Numbeo |
| Rent: 3-bedroom, city centreAverage monthly rent of a three-bedroom apartment in the city centre | $922/mo | 2023 | +9.8% vs 2022 | Numbeo |
| Rent: 3-bedroom, outside centreAverage monthly rent of a three-bedroom apartment outside the centre | $608/mo | 2023 | +6.9% vs 2022 | Numbeo |
| Mortgage interest rate (20-year fixed)Average yearly mortgage interest rate, 20-year fixed | 4.3% | 2023 | +1.8 pp vs 2022 | Numbeo |
| Home ownership rateShare of owner-occupied dwellings | 82.8% | 2024 | ±0.0 pp vs 2023 | Trading Economics |
Year-by-year data
| Year | Apartment price per m² (city centre) | Apartment price per m² (outside centre) | Price-to-income ratio | Gross rental yield (city centre) | Price-to-rent ratio (city centre) | Rent: 1-bedroom, city centre | Rent: 1-bedroom, outside centre | Rent: 3-bedroom, city centre | Rent: 3-bedroom, outside centre | Mortgage interest rate (20-year fixed) | Home ownership rate |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | — | — | 9.4 | 4.0% | 25 | $494/mo | — | — | — | — | 82.8% |
| 2023 | $2,561 | $1,586 | 8.1 | 4.3% | 23.1 | $526/mo | $335/mo | $922/mo | $608/mo | 4.3% | 82.8% |
| 2022 | $2,525 | $1,580 | 8.1 | 4.2% | 24 | $453/mo | $333/mo | $840/mo | $569/mo | 2.5% | 83.1% |
| 2021 | $2,489 | $1,377 | 8.5 | 4.9% | 20.5 | $514/mo | $352/mo | $899/mo | $601/mo | 2.4% | 83.2% |
| 2020 | $2,189 | $1,400 | 8.8 | 4.6% | 21.7 | $454/mo | $317/mo | $829/mo | $565/mo | 2.8% | 81.2% |
| 2019 | $2,023 | $1,256 | 9.4 | 4.7% | 21.4 | $426/mo | $306/mo | $773/mo | $536/mo | 2.5% | 80.2% |
| 2018 | $1,982 | $1,203 | 9.8 | 5.2% | 19.4 | $447/mo | $315/mo | $778/mo | $506/mo | 2.7% | 81.6% |
| 2017 | $1,762 | $1,136 | 10.4 | 4.8% | 21 | $422/mo | $291/mo | $700/mo | $479/mo | 2.8% | 81.5% |
Latvia compared with Northern Europe
| Country | Apartment price per m² (city centre) | Gross rental yield (city centre) | Price-to-income ratio | Mortgage interest rate (20-year fixed) |
|---|---|---|---|---|
| Latvia | $2,561 | 4.0% | 9.4 | 4.3% |
| Denmark | $6,030 | 4.3% | 6.8 | 4.2% |
| Estonia | $3,787 | 3.5% | 10.2 | 4.1% |
| Finland | $7,404 | 3.1% | 8.3 | 3.5% |
| Iceland | $6,323 | 5.9% | 5.6 | 9.2% |
| Ireland | $5,218 | 7.4% | 7.5 | 4.5% |
| Lithuania | $4,378 | 3.8% | 11.1 | 4.1% |
| Norway | $7,484 | 3.9% | 7.8 | 4.3% |
| Sweden | $6,547 | 3.7% | 8.1 | 4.4% |
| United Kingdom | $7,593 | 4.3% | 9.9 | 5.5% |
Related
- Properties for sale in Latvia (1,900)
- Mortgages in Latvia for foreigners
- Latvia market overview
- Tax rates in Latvia
Prices, rents, yields and mortgage rates: Numbeo (crowd-sourced, national averages of city data). Values in US dollars.