12.09.2025
53% of all real estate transactions currently take place in Soviet-era apartment buildings
While prices for real estate in new multi-apartment projects are gradually stabilizing or slightly increasing, the average price per square meter in Soviet-era apartment buildings has decreased over the past 12 months. This makes these apartments a more accessible purchase for buyers in the current market. In Riga and the surrounding area, 53% of all property transactions occurred specifically in Soviet-era buildings, whereas only a quarter were in new developments, according to data compiled by the real estate agency “AVER Real Estate.” On average, it takes about three months for an apartment in Riga or its vicinity to be sold to a new owner, with the most in-demand and expensive being apartments in the 119th and 104th building series.