Market Spotlight | Jurmala, Latvia

The distinctive charm of Jurmala makes it one of the most desired places of residence in Latvia. Rich in natural assets like the pine stands and the clean, fresh air and white silica sand on the beach, mixed with old traditions, the unhurried, recreation-oriented lifestyle of a resort city, as well as the cultural and historical heritage present there, makes Jurmala a wholly unique environment. Wooden buildings in the Classicism, Neoclassicism and Historicism styles blended with modern architecture, along with the aforementioned traits, are all aspects that those who have chosen the city as their place of residence or as the location for their holiday home, would mention as their motivation.

908.857 € EUR | Jurmala, Latvia | Baltic Sotheby’s International Realty

Jurmala is surrounded by water on two sides; the southern part of the city borders on river Lielupe for over 30 kilometers and is cut in the middle by the railway, while the northern edge of the city rests on the Gulf of Riga for 24 kilometers.

Price Upon Request | Jurmala, Latvia | Baltic Sotheby’s International Realty

Property on the first two lines of streets nearest to the sea has always been more expensive and more in demand as this part of the city is also referred to as “the golden mile” of Jurmala; it includes the central parts of the resort city in Bulduri (one of the most densely populated areas of Jurmala) or in Dzintari – one of districts of Jurmala with well-preserved historical layout and wooden housing.

Price Upon Request | Jurmala, Latvia | Baltic Sotheby’s International Realty

Several years in a row real estate market trends in Jurmala were dictated by foreigners, mainly from Eastern Europe, with the lion’s share (around 90%) from Russia. Jurmala was a desired target during the times of the Soviet rule as well; although a part of the USSR, it was at the same time a beautiful resort at the Baltic Sea with a Western touch, where one could communicate in Russian. Nostalgic memories have incited many of these investors to choose a real estate property in Jurmala, which had the added value of advantages offered by the Schengen area and the European Union.

Price Upon Request | Jurmala, Latvia | Baltic Sotheby’s International Realty

A famous resort since 18th century, Jurmala is the only resort city in Latvia and the first city in Latvia to be admitted to the European Spas Association. Recognized over the last 10 years by the World Health Organization (WHO) as a “Healthy City,” Jurmala is undoubtedly a waterfront jewel in the Baltic Rim.

This guest blog was provided by Baltic Sotheby’s International Realty in Latvia.