Jūrmala, Mārupe and Riga Among Latvia’s Key Real Estate Locations in Q1 2026
22-05-2026
In the first quarter of 2026, Latvia’s real estate market once again confirmed that the most valuable transactions are concentrated not only in Riga, but also in premium locations around the capital
According to Lursoft IT, Mārupe Municipality recorded the highest average transaction value in Latvia — €118.73 thousand — followed by Jūrmala at €96.69 thousand. Riga ranked fifth, with an average transaction value of €69.91 thousand. These figures clearly reflect the current structure of demand. Buyers are increasingly evaluating real estate not only by size and price, but also by the quality of the surrounding environment: proximity to the capital, infrastructure, privacy, nature, transport accessibility and long-term liquidity.
Mārupe: Practical Premium Living Near Riga
Mārupe Municipality became the leader in Latvia by average transaction value in the first quarter of 2026. It is no longer simply a suburb of Riga, but one of the most sought-after locations for buyers looking for a balance between private living, quality infrastructure and proximity to the business centre of the capital.It is especially notable that Mārupe leads not only in the overall average transaction value, but also in specific property categories. According to Lursoft IT, the average apartment transaction value in Mārupe Municipality reached €163 thousand, while the average transaction value for land and buildings reached €228.55 thousand.
For the market, this is an important signal. Mārupe is becoming a location where value is shaped not only by its proximity to Riga, but also by the quality of new developments, private housing, family infrastructure and the limited supply of strong properties.
Jūrmala: Status, Privacy and Long-Term Value
Jūrmala remains one of Latvia’s strongest premium real estate locations. In the first quarter of 2026, 238 real estate transactions were registered in Jūrmala, with a total value of €23.01 million. At the same time, Jūrmala ranked second in Latvia by average transaction value — €96.69 thousand.For buyers, Jūrmala is not merely a seaside city, but a separate category of real estate. Privacy, natural surroundings, proximity to Riga, the historic reputation of the resort and the limited supply of high-quality properties continue to define its value.
It is also significant that the largest real estate transaction registered in the first quarter of 2026 was located in Jūrmala: land with buildings at Ernesta Birznieka-Upīša Street 3 was sold for €3 million. Another notable transaction in Jūrmala was a five-room apartment in Pumpuri with a total area of 205.6 m², sold for €725 thousand.
This confirms that demand remains strong in Jūrmala for higher-level properties — from spacious apartments to land plots and private residences.
Riga: The Centre of Liquidity and Business Activity
Despite growing interest in Pierīga and Jūrmala, Riga remains the main centre of Latvia’s real estate market. In the first quarter of 2026, 3,281 transactions were registered in the capital — significantly more than in any other municipality in the country.The average transaction value in Riga was €69.91 thousand, but this figure reflects a broad range of properties — from standard apartments to large commercial and investment assets. Several of the largest transactions in the first quarter were located in Riga, including deals involving land, buildings and engineering structures exceeding €2 million.
For investors, Riga remains the key entry point into the Latvian market: it offers higher liquidity, a wider selection of properties, stronger rental demand and more opportunities for redevelopment, commercial projects and long-term investment strategies.
What This Means for Buyers and Sellers
The results of the first quarter show that Latvia’s real estate market is becoming increasingly segmented. The mass market and premium locations are developing according to different dynamics.- Mārupe is strengthening its position as a modern and practical location for living close to Riga.
- Jūrmala retains its status as a premium destination with strong emotional and investment value.
- Riga remains the main centre of liquidity, business activity and investment opportunities.
In the premium and investment segments, a purchase decision increasingly requires more than simply selecting a property. It requires a strategic assessment: how well the property will preserve its value, how liquid it is, who it will appeal to in the coming years and how it fits into the client’s broader investment objectives.
If you are considering buying, selling or investing in real estate in Riga, Jūrmala or Mārupe, the Mercury Group team can help you assess the market, define the right strategy and find a property aligned with your goals. Contact us for a private consultation.
