Price Overview of Apartments in July 2014. What Can You Buy in Riga for 150,000 EUR?

If you are interested in a price overview for January 2016, please read our article here.

What can you buy in Riga today (July 2014) for 150,000 euros?

KOM-INVEST will help you navigate prices per square meter in Riga, so you can understand what approximate budget you need to purchase the apartment of your dreams.

If you are looking for apartments in new middle-class projects, the price per square meter in central Riga is generally 3,000 - 4,000 euros per sq.m. This means with a budget of up to 150,000 euros you can buy a maximum 50 sq.m. apartment.

In new projects being built in Riga or Jurmala, there are practically no apartments of such small size, so the smallest 2-bedroom apartments with one bedroom in the center sell for approximately 160,000 - 200 000 euros, and, the supply is very limited.

If a new central project claims exclusive status, the price per square meter increases to 5,000 - 7,000 euros per sq.m.

Fully reconstructed historic buildings in central Riga are very popular. The quality of such buildings is often higher than new projects, and the price per sq.m. is approximately 2,800 - 3,000 euros.

In new projects or reconstructed buildings located in the peripheral center, the price per sq.m. for a renovated apartment is approximately 1,800 - 2,500 euros, so it becomes possible to buy a two-bedroom or small three-bedroom apartment within the estimated budget. There are few such projects, so the best apartments by location and price are sold very quickly.

If you consider new projects with renovation in the residential districts of Riga, the price per sq.m. can be approximately 1,500 - 2,000 euros. In a residential district within this budget, there is already a selection of good three-bedroom apartments. The price depends on the district, floor, window views, and availability of parking.

If you are interested in housing in non-reconstructed buildings in central Riga (constructed approximately 1900 1910), the average price for apartments without renovation can be 1,000 - 2,000 euros per sq.m. In such a building the facade, entrance, and utilities are likely to be in poor condition, as no renovation has been done for more than 20-30 years.

Prices for standard Soviet-era housing are quite low and range from 600 - 800 euros per sq.m. depending on location and apartment condition.

In summary, with 150,000 euros you can buy a very small 2-bedroom apartment in central Riga in a new project (but such offers are very rare), or a fairly large 3-4-bedroom apartment without renovation in a historic building in the center. Or a good 3-bedroom renovated apartment in a new building in a residential district. Or 2-3 standard Soviet-era apartments.

Contact KOM-INVEST, and we will select options that best match your goals and needs.