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Latvia: Rental Yields

Gross rental yields in Riga are good at around 4.77% - 5.43%. But this is actually relatively subdued, by Eastern European standards, reflecting the fact that Latvia has long been a favorite of foreign buyers and that therefore a certain amount of growth is already ‘in the price’. Rents in residential districts are climbing, due to the insufficient supply of rental apartments. Even underground parking is expensive – in the exclusive mew project “Ridzenes residence” underground parking costs €40,000.     COST (€) YIELD (p.a.) PRICE, M2 (€)   TO BUY MONTHLY RENT   TO BUY MONTHLY RENT RIGA           50 sq. m. 150,000  600 4.80% 3,000 12.00 75 sq. m. 230,000 950 4.96%  3,067 12.67 100 sq. m. 290,000 1,270 5.26%  2,900 12.70 140 sq. m. 440,000  1,750 4.77%  3,143 12.50 180 sq. m. 530,500 2,400 5.43% 2,947 13.33             Suburbs*           60 sq. m. 155,000  675 5.23% 2,583 11.25 100 sq. m.  270,000 1,160 5.16% 2,700 11.60 170 sq. m.  428,500 n.a. n.a. 2,521 n.a.             Source: Global Property Guide Last Updated: November 24, 2006