* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.
Currency conversion factor: (EUR -> USD) = 1.186
The industry classification is based on the NACE Rev.2 - system in Latvia. The industry “rental and operating of own or leased real estate“ has the code “L682“.
Latvia is fast emerging as a Baltic startup hub, fuelled by the favorable business conditions, low tariff rates and rising investments. This has augured well for its rental and operating of own or leased real estate market, with revenues witnessing a rise from *** million U.S. dollars in 2011 to *** billion U.S. dollars in 2019. In fact, most of the consumers are increasingly looking to rent rather than buy properties, owing to the high prices of residential and commercial properties. This is one of the main reasons the buying and selling of own real estate market has been declining in the country.
As of 2018, the average monthly rental cost for apartments in the capital city of Riga amounted *** U.S. dollars, amongst the lowest in the EU.
Hotels starting to feel the pinch
With companies such as Airbnb continuing to expand, Hotels in Latvia are starting to feel the effect. As per details from Lsm.lv, the online marketplace company offers apartments in the capital city of Riga for as much as ** euros per night, which has led to a surge in demand over the years.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Use ÌÇÐÄÆƽâ°æ now:
unlimited access to all content
Learn more about how ÌÇÐÄÆƽâ°æ can support your business.
Eurostat. (April 1, 2019). Industry revenue of »rental and operating of own or leased real estate« in Latvia from 2011 to 2023 (in million U.S. Dollars) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved August 06, 2026, from /forecasts/393717/rental-and-operating-of-own-or-leased-real-estate-revenue-in-latvia/
Eurostat. "Industry revenue of »rental and operating of own or leased real estate« in Latvia from 2011 to 2023 (in million U.S. Dollars)." Chart. April 1, 2019. ÌÇÐÄÆƽâ°æ. Accessed August 06, 2026. /forecasts/393717/rental-and-operating-of-own-or-leased-real-estate-revenue-in-latvia/
Eurostat. (2019). Industry revenue of »rental and operating of own or leased real estate« in Latvia from 2011 to 2023 (in million U.S. Dollars). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: August 06, 2026. /forecasts/393717/rental-and-operating-of-own-or-leased-real-estate-revenue-in-latvia/
Eurostat. "Industry Revenue of »rental and Operating of Own or Leased Real Estate« in Latvia from 2011 to 2023 (in Million U.S. Dollars)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 1 Apr 2019, /forecasts/393717/rental-and-operating-of-own-or-leased-real-estate-revenue-in-latvia/
Eurostat, Industry revenue of »rental and operating of own or leased real estate« in Latvia from 2011 to 2023 (in million U.S. Dollars) ÌÇÐÄÆƽâ°æ, /forecasts/393717/rental-and-operating-of-own-or-leased-real-estate-revenue-in-latvia/ (last visited August 06, 2026)
Industry revenue of »rental and operating of own or leased real estate« in Latvia from 2011 to 2023 (in million U.S. Dollars) [Graph], Eurostat, April 1, 2019. [Online]. Available: /forecasts/393717/rental-and-operating-of-own-or-leased-real-estate-revenue-in-latvia/
