Real Estate in Riga

Characteristics of real estate in Riga

The city and the surrounding area offer a wide range of opportunities for renting or buying modern real estate. There are also ample opportunities to acquire land and buildings to develop them for specific needs, either with their owned resources or in cooperation with experienced and acclaimed real estate developers.

Riga boasts outstanding examples of successful cooperation between the city, property developers and businesses in the industrial, warehousing, logistics, office, retail, hotel and rental sectors. The rapid development of the city over the next decade and the available properties for further growth in these sectors create the basis for new players to enter the region.

Key advantages

Competitive prime yields, strong demand and low rental rates - higher investment returns compared with many Western European markets, supported by stable occupier demand and cost-efficient leasing opportunities.
Evolving green development - increasing focus on sustainable, energy-efficient developments aligned with ESG priorities and evolving EU environmental standards.
Growing supply of certified green buildings - expanding portfolio of BREEAM and LEED certified office and mixed-use developments, providing high-quality, future-ready spaces for occupiers and investors.
Incentives by municipality - targeted support measures, including real estate tax relief and infrastructure co-financing.
The most connected city in the Baltics - direct access to European markets through air, rail, and maritime infrastructure.
Safe and stable business environment - EU and NATO membership provide companies with access to international markets within a secure and predictable business environment.

Files for download

Riga MIPIM catalogue 2026

Economic profile of Riga 2026

Office and industrial real estate market in Riga 2026

One-pager: office and industrial real estate market in Riga 2026

Main sectors

Office market

Riga's office real estate market continues to develop with a strong focus on sustainability, quality, and modern workplace requirements. New office developments increasingly meet internationally recognized green building standards, reflecting growing demand for energy-efficient and environmentally responsible buildings. The market offers a competitive combination of high-quality office space, attractive rental costs, and solid investment returns, making Riga an appealing destination for both occupiers and investors.

Industrial market

Riga has become an increasingly attractive location for industrial, warehousing, and logistics developments, supported by its strategic location, expanding transport infrastructure, and growing demand for modern industrial facilities. The market is driven by both build-to-suit projects and new speculative developments, with strong occupancy levels reflecting sustained interest from manufacturing, logistics, and e-commerce companies. This creates favorable conditions for continued investment and long-term growth across the industrial real estate sector.

Support from Riga City Council

Ease the Housing squeeze

Riga is rapidly becoming a key hub for sustainable urban development. Through the national Affordable Housing for Latvian Professionals programme, the city is addressing growing demand for modern, energy-efficient rental housing while creating new opportunities for private sector participation.

About the programme "Affordable Housing for Latvian Professionals"

Latvia is expanding its affordable housing stock through a national public-private partnership programme implemented by State Real Estate (VNĪ) in cooperation with municipalities and international financial institutions.
The programme aims to provide modern, energy-efficient and affordable apartments for professionals working in essential sectors such as healthcare, education, emergency services, internal security and public administration.
A total of 2,336 apartments are planned across Latvia through two PPP project bundles, including 732 apartments in Riga in the first procurement bundle.
The estimated investment volume is approximately EUR 228 million, with EUR 128 million allocated to the first bundle.
The programme is implemented through a Design-Build-Finance-Maintain-Operate (DBFMO) model supported by long-term availability payments, creating a predictable framework for private investment.
The first procurement procedure is currently being prepared, with construction planned to begin following the selection of the private partner.

Please consult the current status of the project and available opportunities on the VNĪ Affordable Housing for Latvian Professionals project page