Real estate developer Invego sold 76 new homes in Latvia during the first six months of 2026, representing a 130% increase compared with the same period last year.
According to Invego CEO Kristjan-Thor Vähi, the strong half-year result shows that the company’s strategy in the Latvian market is paying off and that demand for high-quality new homes continues to grow. “We predicted last spring that Riga would soon overtake Tallinn in terms of new development sales. While Invego’s sales figures were still relatively similar in the two markets last year, Latvians have clearly pulled ahead this year,” Vähi comments, adding that private investors have also played a role in Invego’s success in Latvia. “The favorable entry prices in the Latvian market make it attractive to investors, who are actively purchasing apartments in Invego’s developments, mainly as long‑term investments for rental purposes. Latvian buyers make up the largest share, but a notable portion also comes from Estonian private investors,” Vähi explains.
Invego is currently developing eight residential neighborhoods in Riga and the surrounding areas. The most popular development during the first half of the year was Vitolu Parks, where 20 new homes were sold in six months, followed by Parka Kvartāls and Torņakalna Terases, with 13 and 11 homes sold respectively. “Mārupes Sirds, a residential development in the vicinity of the Latvian capital, is also currently gaining increasing popularity. Invego is developing the project together with EfTEN Special Opportunities Fund,” Vähi adds. According to him, 26 of the 76 homes sold by Invego during the first half of the year were sold in June alone. “One-third of June’s sales came from Nordale, our newest and most ambitious development. Among investment apartments, Skanstes Rezidences, which is set to be completed in the coming months, as well as Miera Rezidences and Torņakalna Terases, where construction is about to begin, are particularly popular,” Vähi says.
Over the past year, Invego has launched the development and sales of four new residential neighborhoods in Latvia. “The segment of high-quality yet affordable homes have grown very rapidly in Riga’s real estate market, and buyers are increasingly looking beyond the apartment itself to the wider living environment created by the development. This is why we place strong emphasis on creating cohesive residential areas with quality architecture, well-designed public spaces and landscaping. It is this comprehensive approach to creating a living environment that resonates most strongly with buyers,” the Invego CEO explains.