NEW-BUILDS ARE THREE TIMES MORE EXPENSIVE THAN SERIAL PROJECT APARTMENTS
Apartment prices in new developments have reached €2,200–3,000/m², compared with €800–1,300/m² in Serial Project buildings. Experts expect the price gap between market segments to continue widening.
Source: Citadele
DATA
JŪRMALA NEEDS MORE FIVE-STAR HOTELS
“Jūrmala needs new five-star hotels
and SPA resorts. This would attract
more tourists and investment while strengthening the city’s position
as an international resort.”
Source: Latvia Sotheby’s International Realty
EXPERT OPINION
NEW RESIDENTIAL PROJECT IN GARKALNE
Construction is underway at the Asteres residential community in Garkalne, featuring 136 plots for private homes. The first houses are complete, while roads, utilities, and public spaces are now under development.
Source: Industra Bank
PROJECT
LATVIAN ONCOLOGY CENTRE BEGINS FULL RECONSTRUCTION
The Latvian Oncology Centre in Riga has begun a full reconstruction. The project covers 10 floors, adding 8 operating theatres, over 300 beds, and upgraded engineering systems. Completion is planned for autumn 2028.
Source: Riga East Clinical University Hospital
EDITORS CHOICE
INDUSTRIAL SITE TO BECOME LOFT APARTMENTS
Tērbatas Lofti will transform a former industrial complex on Tērbatas iela into modern loft-style homes while preserving
its historic façades and architectural details. The project is worth €6.5 million.
Source: MJL Development
NEWS
RIMI OPENS ONE OF THE LARGEST LOGISTICS CENTRES IN THE BALTICS
Rimi Lietuva has opened a €60 million logistics centre in Elektrėnai, Lithuania—one of the Baltics’ largest recent retail infrastructure investments. The 42,000 m² facility will serve all 87 Rimi stores in the country and create up to 800 jobs.
Source: Rimi Lietuva
PROJECT
NEW CYCLE LANES COMING TO DZIRNAVU IELA
Traffic restrictions will be in place until 30 July on Dzirnavu iela between Tērbatas iela and Skolas iela. New cycle lanes and upgraded intersections will improve safety for cyclists, pedestrians, and drivers.
Source: Riga City Council
TRANSPORT & INFRASTRUCTURE
RIGA TO DOUBLE ITS TOURIST TAX
From 1 January 2027, Riga will raise its tourist tax from €0.89 to €2 per night. The additional revenue will support tourism marketing, events, and infrastructure. The industry supports the move.
Source: Riga City Council
NEWS
HISTORIC RIGA BUILDING TO BECOME 90 PREMIUM RESIDENCES
Developer Baurum has launched reservations for Constanta,
a 2027 residential project on Blaumaņa iela. It will offer around 90 premium apartments, combining the building’s historic character with energy-efficient smart technologies.
Source: Baurum
NEWS
NEW CYCLE ROUTE TO CONNECT TINŪŽI AND OGRE
A pedestrian and cycle path is being built between Tinūži and Ogre. The project includes lighting, rest areas, road upgrades, and a new roundabout near Ulbroka Secondary School. Completion is planned for November.
Source: Finance Latvia
TRANSPORT & INFRASTRUCTURE
