NEW RULES FOR AIRBNB AND SHORT-TERM RENTALS
From 10 July, short-term rental properties in Latvia are officially classified as tourist accommodation. Owners listing properties on Airbnb, Booking.com, and other platforms must collect guest information and submit statistical data in accordance with the law.
Source: Saeima
LEGISLATION AND LAWS
OFFICE TENANTS ARE CALLING THE SHOTS
A growing supply of modern Class A offices and the rise of hybrid work have strengthened tenants’ position in the market. Companies can now compare multiple options, negotiate discounts, and secure more flexible lease terms and fit-outs. According to Latio, landlords increasingly need to adapt their premises to tenants’ needs.
Source: Latio
NEWS
LIDO FOUNDER LAUNCHES NEW DABA RESTAURANT CHAIN
Lido founder Gunārs Ķirsons is launching a new fast-casual restaurant chain called Daba. The first two restaurants will open in Mežaparks and on Brīvības iela in Riga, with total investment reaching €4.5 million. The concept combines Latvian cuisine, fast service (30–60 seconds per customer), and high-quality customer service. Up to 20 restaurants are planned over the next five years.
Source: LETA / Daba NI / BluOr Bank
NEWS
APARTMENT SUPPLY IN RIGA CONTINUES TO DECLINE
In June, the number of apartments for sale in Riga fell by 4% compared to May, while supply in the city’s largest neighbourhoods decreased by 2%. Compared with last year, listings dropped by 15% citywide and by 23% in the largest residential districts. Āgenskalns had the highest number of apartments for sale, while Bolderāja had the lowest.
Source: Arco Real Estate
DATA
MOST EXPENSIVE APARTMENT IN ESTONIAN HISTORY SOLD
Developer Endover has launched sales of apartments and commercial premises in the second tower of the Volta Skai development in Tallinn. Even before the official launch, a 340 m² penthouse was sold for nearly €4 million, setting a new record for the most expensive apartment sale in Estonia’s history. The project includes 41 apartments and 13 commercial units, with the first homes ready this autumn.
Source: Endover / Delfi Estonia
NEWS
FORMER SOCIAL CARE CENTRE SOLD IN RIGA
A property at Kapseļu iela 18 in Riga, formerly home to a state social care centre, has been sold at auction for €652,000. The site includes a 0.37-hectare land plot and seven buildings with a total floor area of 1,476 m², including a former orphanage. The winning bidder was a legal entity that placed the only bid.
Source: Valsts nekustamie īpašumi
NEWS
MAJOR CONSTRUCTION WORK COMPLETED AT RIGA CENTRAL STATION
Major façade and platform works have been completed at the new Rail Baltica station. Three new passenger platforms with lifts and canopies are now finished. Train services at the new Riga Central Station are expected to begin in 2028; until then, the completed spaces will be used for events.
Source: Eiropas dzelzceļa līnijas / LETA
TRANSPORT & INFRASTRUCTURE
NORDSPACE CREATES SMART BUSINESS SPACES
Nordspace has secured €1.2 million in financing from Signet Bank to develop the second phase of its smart storage complex on Jūrkalnes iela in Riga. The project includes a new 1,786 m² building combining storage, office, and production space. Nordspace currently operates in Latvia, Lithuania, and Poland.
Source: Nordspace / Signet Bank
PROJECT
NEW PEDESTRIAN CROSSINGS COMING TO RIGA
By 31 July, three new pedestrian crossings will be installed across Riga as part of wider traffic improvements (Šarlotes iela at the intersection with Palīdzības iela; Tallinas iela at the intersection with Cēsu iela; the intersection of Tallinas iela and Tērbatas iela). A new traffic light, pedestrian crossings, and public transport priority will also be introduced at the intersection of Ģertrūdes iela and Satekles iela.
Source: Rīgas dome
TRANSPORT & INFRASTRUCTURE
TRAFFIC CHANGES NEAR RIGA AIRPORT
Temporary traffic changes are in place near Riga Airport until 20 July due to Rail Baltica construction works. The changes affect Pilotu iela, Torņa iela, access to the P4 long-term car park, and the airBaltic Training Centre. Drivers are advised to plan their routes in advance and follow temporary road signs.
Source: Mārupe Municipality / Jauns.lv
TRANSPORT & INFRASTRUCTURE
LITHUANIAN APARTMENT PRICES KEEP RISING
Experts say this has been an unusually active summer for Lithuania’s housing market. Apartment prices continued to increase in June in Vilnius, Kaunas, and Klaipėda, while the number of transactions grew compared with both May and the same period last year. The average apartment price in Vilnius has reached €2,145/m².
Source: Delfi.lt / 1Partner LT
DATA
