Foreigners pay for the property in Riga more than locals

Apartments in the center of Riga are often sold for €2,500-4,500 per sq.m. This applies to primary and fully renovated property. There are also facilities worth €7-10 million per square meter, but the deals with the objects of this type are extremely rare, according to the portal ee24.com with reference to the latest data of the Latvian real estate agents.

Renovated apartments in older buildings in the center of the capital of Latvia are sold primarily for €1,200-3,000 per sq.m. Such houses are bought mostly by foreigners. Locals are ready to buy a house in the city center, if they find one-bedroom apartment for €60-70 thousand, three-and four-room - for €100-140 thousand.

On the outskirts of Riga new apartments are often bought for €1,100-1,300 per sq.m. Locals buy housing not more expensive than €105,000, while foreigners often buy fully furnished apartments worth €150-170 thousand. New economy-class apartments on the outskirts of Riga are within the €1050-1700 per sq. m

Jelgava still remains the cheapest of the nearest to Riga cities. The average price for apartments in the city is €291 per sq.m. In other settlements prices are higher: in Kauguri neighborhood - €400 per sq.m., in Ogre - €426, in Salaspils - €469.