Apartment prices in Riga's micro-districts saw a notable increase in February 2023, rising by 1.7% compared to the previous month, as reported by the real estate company 'Arco Real Estate.' The average price per square meter for standard apartments reached 912 euros, marking the highest price increase in recent years. However, it is important to note that the current average price is still 44% lower than the peak of 1620 euros per square meter observed on July 1, 2007.

The report attributes the price rise to a limited availability of apartments in all Riga's micro-districts, indicating a persistent demand despite economic fluctuations. Since the beginning of 2026, apartment prices in the major neighborhoods of Riga have increased between 1-5%, with Imanta experiencing the most significant increase at 5% this year. Other areas, such as Pļavnieki, also saw substantial price growth for standard apartments this year, reflecting a dynamic real estate market.

Overall, the continuous rise in apartment prices in various districts of Riga showcases the demand-supply imbalance in the housing market, which could impact future housing policies and investment strategies. The increase in Imanta particularly highlights shifting patterns in buyer interests and investments in different neighborhoods, which may merit further monitoring by stakeholders in the real estate sector.