Small apartments in Riga earn moderately good yields

Last Updated: Oct. 13, 2018
RIGA CITY - Flats COST (€) YIELD (p.a.) PRICE/SQ.M. (€)
40 sq. m. 80,520 343 5.11% 2,013 8.58
70 sq. m. 199,150 723 4.36% 2,845 10.33
120 sq. m. 334,680 1,132 4.06% 2,789 9.43
Riga-Old Town
50 sq. m. 106,650 544 6.12% 2,133 10.88
120 sq. m. 254,280 1,177 5.56% 2,119 9.81
Mezaparks flats
65 sq. m. 101,465 n.a. n.a. 1,561 n.a.
120 sq. m. 200,160 n.a. n.a. 1,668 n.a.
Teika flats
55 sq. m. 67,265 n.a. n.a. 1,223 n.a.
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

Gross rental yields, i.e., the gross return on investment in an apartment if fully rented out, in the centre of Riga are 4.4% for a 7 square metre (sq. m.) apartment. Such an apartment might cost around EUR 725 per month to rent, but around EUR 200,000 to buy.

These aren´t great yields. But in the Old Town, our research suggests that a typical small apartment of 50 sq.m. can yield 6.1% - not so bad.

In previous years our research suggested that the rents that people are prepared to pay in the centre for these larger apartments are less than they might be prepared to pay, say, in Jurmala, where the flats are mostly new.

The property market´s recovery began in 2010 and accelerated in 2011, then paused.  But since 2016 there has been a significant rise in house prices in Riga.

Round trip transaction costs are low to moderate in Latvia. See our Property transaction costs analysis for Latvia and Property transaction costs in Latvia, compared to the rest of Europe

Subscription required to access this page

Access to premium content and weekly market updates.

Subscribe to Global Property Guide

Get the data behind 60+ countries for $9.99 per month.
Latest Market Reports
Rental Yields
House Price Indices
Square Metre Prices
Tax and Buying Guides