Riga

Riga is the Baltic region's largest student city and an increasingly popular destination for international students. With 42,000 students across 8 major institutions, the city offers a unique combination of EU-standard education at Eastern European price points.

Latvia's membership in the EU and Eurozone, combined with widespread English proficiency, makes Riga particularly attractive for students from CIS countries, India, and Western Europe seeking affordable alternatives.

The student housing market is severely undersupplied, with PBSA covering only 7.6% of demand. Most students rely on the private rental market, which is fragmented and often lacks quality standards.

Riga's university landscape is anchored by several strong institutions:

• University of Latvia (LU) — 16,000 students
• Riga Technical University (RTU) — 12,000 students
• Riga Stradins University (RSU) — 8,500 students (renowned medical school)
• Stockholm School of Economics in Riga (SSE) — 500 students
• RISEBA — 2,800 students

RSU is the primary driver of international enrollment, with medical programs attracting students from 60+ countries.

Riga offers some of the lowest student rents in the EU, with shared rooms averaging €350/month and private studios at €520/month.

Key trends:

• Rents up 6.2% YoY, accelerating from 3.8% in 2024
• City center (Centrs) premium: 20-30% above average
• Āgenskalns and Purvciems offer best value for students
• New-build stock is limited; most rental supply is Soviet-era renovated

Supply outlook: Minimal new PBSA pipeline. The market is ripe for operator-led supply.

Riga offers an authentic European experience at a fraction of Western European costs. Students can live comfortably on €500-700/month including rent.

Highlights:

• UNESCO World Heritage Old Town
• Thriving café and bar culture
• Efficient public transport (trams, buses, trolleybuses)
• Short flights to major European cities
• Growing tech/startup ecosystem for internships

Popular areas:

• Centrs: Heart of the city, walkable, social hub
• Āgenskalns: Trendy, affordable, across the river
• Purvciems/Teika: Residential, quiet, budget-friendly