Over the year prices of dwellings increased by 1.1 %

Provisional data of the Central Statistical Bureau (CSB)* show that, compared to the 2nd quarter of 2023, in the 2nd quarter of 2024 prices of dwellings rose by 1.1 %. Prices of new dwellings increased by 11.4 %, but average price level of existing dwellings reduced by 2.0 %.

Compared to the 1st quarter of 2024, in the 2nd quarter of 2024 prices of dwellings went up by 2.3 %. Prices of new dwellings increased by 8.6 %, and prices of existing dwellings – by 0.6 %.

Compared to 2015, in the 2nd quarter of 2024 prices of dwellings were 97.6 % higher. Prices of new dwellings increased by 114.6 % (2,1 times), but of existing dwellings – by 92.4 %.

Information on changes in dwelling prices in the 3rd quarter of 2024 will be published on 13 December 2024.

*data of the 2nd quarter of 2024 are provisional. The final data will be published together with the provisional data for the 3rd quarter of 2024 on 13 December.

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