LATVIA’S HOUSING MARKET STILL HAS ROOM TO GROW
Housing prices in Latvia rose 10.9% in the first quarter of 2026. Riga remains the Baltics’ most affordable capital for new homes. Experts expect the price gap to narrow. If demand stays strong, prices could rise by more than 10% over the next two years.
DATA
A NEW CHAPTER FOR KLĪVERSALA BAY
A time capsule has been laid at Blue Marine° Residence. The project is valued at €23 million. The development will include 92 apartments. It is being built on a peninsula with more than 700 years of history. Completion is scheduled for summer 2027. Developer is Pro Kapital.
PROJECT
KAAMOS MAKES ITS FIRST MOVE IN PĀRDAUGAVA
The Poēzija project has been completed in Torņakalns. The €7.5 million development includes 49 apartments in two nearly zero-energy buildings. Only five homes remain available. New owners will receive their keys this summer.
PROJECT
A NEW NEIGHBOURHOOD FOR DUNTES
MJL Development will invest more than €20 million in the new Terra Dunte project. The complex will include 183 apartments in three residential buildings. Every apartment will have a balcony. Top-floor homes will feature private terraces. The first residents are expected in 2028.
PROJECT
LITHUANIA BRINGS A HISTORIC SEAPORT BACK TO LIFE
Lithuania has signed a €38.2 million contract to rebuild the historic Šventoji Seaport. The project includes two breakwaters, a marina and a 9-metre waterfront promenade. Construction will take 24 months.
TRANSPORT & INFRASTRUCTURE
SHOPPING CENTRE IMANTA ENTERS A NEW PHASE
The former Radiotehnika industrial site is being redeveloped. Around 12,000 m² of former production space will be transformed. Shopping Centre Imanta will add a LIDO restaurant, Apollo Kino and an expanded food market. Construction starts in July.
NEWS
JELGAVA MARKET IS MOVING
The move begins on 1 August. The new site will be at Zemgales Prospekts 19A and Sporta Street 2B. The current location will close at the end of July. More than 100 tenants have been offered space at the new market.
NEWS
MICHELIN RESTAURANT MAKES WAY FOR CULTURAL CENTRE
Toko, a restaurant recommended by the Michelin Guide, will be demolished. The site will make way for Tartu’s new Siuru Cultural Centre. The restaurant must close by 1 May 2028. The city has offered Toko a new location.
NEWS
OLD RIGA LANDMARK CHANGES HANDS
One of Old Riga’s architectural landmarks has been sold for €2.7 million. The building stands at 9 Teātra Street. It was built in 1912. Experts say properties like this change hands only once in decades.
NEWS
