Over the year prices of dwellings increased by 3.2 %

Provisional data of the Central Statistical Bureau (CSB)* show that, compared to the 3rd quarter of 2022, in the 3rd quarter of 2023 prices of dwellings rose by 3.2 %. Prices of new dwellings increased by 15.6 %, but average price level of existing dwellings remained unchanged.

Compared to the 2nd quarter of 2023, in the 3rd quarter of 2023 prices of dwellings reduced by 0.9 %. Prices of new dwellings fell by 0.2 %, and prices of existing dwellings – by 1.2 %.

Compared to 2015, in the 3rd quarter of 2023 prices of dwellings were 93.7 % higher. Prices of new dwellings increased by 92.3 %, but of existing dwellings – by 94.1 %.

Information on changes in dwelling prices in the 4th quarter of 2023 will be published on 15 March 2024.

*data of the 3rd quarter of 2023 are provisional. The final data will be published together with the provisional data for the 4th quarter of 2023 on 15 March 2024.

Methodological information

The house price index (HPI) is a quarterly indicator that measures the changes in the dwellings transaction prices that households acquire on the market. The house price index is a quality-adjusted index, i.e. it reflects pure price changes, excluding structural and qualitative differences in dwellings composition between periods.

The HPI covers all purchases of dwellings between households on the one part, and legal entities, municipalities, and government on the other part, as well as between two or more households, regardless of the purpose for which the property is acquired and type of its subsequent use.

Compilation methodology of the house price index is available in the Official statistics portal section Reference metadata.

Media requests:
Communication Section
E-mail: media@csp.gov.lv
Phone: +371 67366989, +371 27880666

More information on the data:
Nataļja Dubkova
Consumer Price Indices Section
E-mail: Natalja.Dubkova@csp.gov.lv
Phone: +371 67366644