RĪGA CENTRAL MARKET MEAT PAVILION BANNED FROM USE
Latvia’s Construction State Control Bureau banned the Riga Central Market meat pavilion from operation on 11 June after severe corrosion in the roof’s load-bearing steel trusses and deformations were found. All trading and public access are now prohibited until the structural safety is restored.
NEWS
RIVER PROPERTIES ANOUNCES €9M LUXURY APARTMENT PROJECT IN JŪRMALA
River Properties revieles its second luxury project in Jūrmala—AUGUST at Vienības prospekts 1A in Bulduri. The building will delivere 13 apartments ranging from 55 to 600 m², including two penthouses with rooftop terraces, a spa, gym, and
a courtyard garden. Designed by OAD architects.
PROJECT
INVEGO AND EFTEN SECURE PERMITS FOR €50M MĀRUPES SIRDS DEVELOPMENT
Invego and EfTEN receive all building permits for Mārupes Sirds, a €50 million residential project in Mārupe. The first phase delivers 50 apartments and 15 premium townhouses.
The full development will eventually deliver over 400 homes.
PROJECT
LATVIA EXPANDS MULTIMODAL TRANSIT HUBS
Four new mobility hubs opened in May near the Mangaļi, Gaisma, Vecdaugava, and Iļģuciems railway stops in Rīga. Carnikava also completed its own hub, featuring three new parking areas linked to the local railway station together with 40 bike racks.
TRANSPORT & INFRASTRUCTURE
LATVIANS PAY OFF HOME LOANS 14 YEARS AHEAD OF SCHEDULE ON AVERAGE
Despite an average mortgage term of 25 years, Luminor data shows Latvian borrowers repay home loans in around 11 years—roughly 14 years ahead of schedule.
DATA
LATVIA REQUIRES SHORT-TERM RENTALS TO REGISTER GUEST DATA
Saeima approves amendments to the Tourism Law on 11 June, bringing short-term rentals—holiday homes and Airbnb-type apartments—under the official tourist accommodation definition. Hosts must now collect guest identification data, which can be submitted electronically.
LEGISLATION AND LAWS
ECB RAISES INTEREST RATES FOR FIRST TIME IN YEARS
The European Central Bank raised rates by 0.25 percentage points on 11 June, effective 17 June, as inflation hit 3.2%—well above the 2% target. Inflation is forecast to average 3% across the eurozone in 2026. Homeowners with variable-rate mortgages tied to Euribor will see monthly payments rise automatically.
NEWS
DARNU GROUP PLANS €100M SINGLE-FAMILY HOME NEIGHBORHOOD NEAR VILNIUS
Darnu Group acquires a 26.4-ha site near Mechanikų gatvė in the southern part of Vilnius to develop Nojai—a neighborhood of around 270 homes in four phases. The project includes a kindergarten, spa, café, and landscaped public spaces. Construction of the first 86 units starts in early 2027.
PROJECT
BALTICOVO OPENS €120M EGG PRODUCTION COMPLEX IN IECAVA
A new production complex opens in Iecava, housing nearly two million cage-free hens across 12 laying hen facilities and three rearing units. A two-storey conveyor network connects all buildings to a central sorting facility.
NEWS
