Airbnb Market Analytics, Statistics and Data in Riga, Vidzeme, Latvia
Last updated: 2025-01-31
Looking to make more money with hosting or rental arbitraging Airbnbs, short-term rentals, vacation rentals in Riga? AirROI have just the data insights! Over the last twelve months from February 2024 to January 2025, we've uncovered key trends and opportunities that successful hosts are leveraging in Riga:
How much do Airbnb hosts make on average per month in Riga?
The short-term rental market in Riga shows distinct revenue patterns across different property tiers. Our analysis reveals that successful properties combine strategic pricing with quality management to maximize earnings potential. Market data demonstrates clear revenue differentiation among properties:
- Typical properties (median) earn $1,019 per month
- Strong performing properties (top 25%) make $1,672 or more
- Best-in-class properties (top 10%) achieve $2,540+ monthly
- Entry-level properties (bottom 25%) typically earn around $516
Revenue Variations by Month
Occupancy Rates Throughout the Year in Riga
The market in Riga shows distinct occupancy patterns influenced by seasonal trends and local dynamics. Properties that maintain high guest satisfaction scores and implement strategic pricing consistently achieve stronger occupancy rates. Current market data shows:
- Typical properties (median) maintain 47% occupancy rates
- Strong performing properties (top 25%) achieve 70% or higher
- Best-in-class properties (top 10%) reach 85%+occupancy
- Entry-level properties (bottom 25%) average around 23%
Occupancy Variations by Month
Average Daily Rates Seasonal Trends in Riga
Daily rates in Riga vary based on seasonality, property quality, and market dynamics. Properties that effectively balance competitive pricing with strong amenities typically command higher rates. Market analysis shows the following rate structure:
- Typical properties (median) generate $60 per night
- Strong performing properties (top 25%) secure $87 or more
- Best-in-class properties (top 10%) pull in $130+ per night
- Entry-level properties (bottom 25%) earn around $43
Daily Rate Variations by Month
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Seasonality patterns in Riga
Peak Season (July, June, August)
- Revenue peaks at $1645.53 per month
- Occupancy rates reach 61.80%
- Daily rates average $83.44
Shoulder Season
- Revenue averages $1278.42 per month
- Occupancy maintains 47.00%
- Daily rates hold at $77.22
Low Season (October, November, January)
- Revenue drops to $782.04 per month
- Occupancy decreases to 33.63%
- Daily rates adjust to $72.36
Is it still profitable to do Airbnb in Riga in 2025?
Yes! Riga demonstrates highly seasonal trends requiring strategic adaptation, featuring a healthy occupancy rate of 47% and monthly revenue averaging $1278 and As a mature market with 1975 active listings, there's strong demand despite the competition. There's also room for profit through rental arbitrage strategies, if you can identify competitively priced properties. To maximize your return on investment, consider employing the following strategies:
Peak Season Strategy
- Implement premium seasonal pricing strategies
- Set longer minimum stay requirements during high-demand periods
- Enforce stricter cancellation policies
Shoulder Season Strategy
- Maintain competitive market-based pricing
- Offer moderate-length stay incentives
- Target a mix of leisure and business travelers with flexible booking terms
- Focus on weekend getaway packages and mid-week business traveler promotions
Low Season Strategy
- Adjust pricing to remain competitive in the market
- Target different guest segments (business travelers, long-term stays, holiday visitors, event attendees, remote workers)
- Create targeted promotional campaigns to drive occupancy
Top Places to Start Airbnb in Riga
| Area | Why Choose This Area | Key Attractions |
|---|---|---|
| Old City | Historic heart of Riga with cobblestone streets and stunning architecture. Attracts tourists interested in culture, history, and local cuisine, with many restaurants, cafés, and shops. | House of Blackheads, Riga Cathedral, St. Peter's Church, Riga Castle, Freedom Monument, Cat House |
| Mārtiņa iela | A vibrant area close to popular tourist attractions and the city center. Great for hosting guests looking for a lively atmosphere with plenty of dining and entertainment options. | Bastejkalna Park, National Museum of Art, Vermanes Garden, Café Dune, Lido Recreation Center |
| Mežaparks | A tranquil, green residential area known for the large Mežaparks park and the Riga Zoo. Popular with families and those seeking a peaceful getaway from the city bustle. | Riga Zoo, Mežaparks park, Lielā Kaza, Cycling paths, Mežaparks Open-Air Stage |
| Centrs | The central district of Riga filled with Art Nouveau architecture, shops, and restaurants. A hub for business travelers and tourists looking to explore the city's culture and nightlife. | Freedom Monument, Latvian National Opera, Central Market, Albert Street, Vērmanes Garden |
| Riga's Canal | An idyllic area along the canal perfect for romantic getaways and balcony views. Offers a serene setting with easy access to the city center and historical sites. | Bastejkalna Park, Riga Canal, Floating bridge, Riga Prayer House, Riga International School of Economics and Business |
| Šampeteris | A suburban area known for its family-friendly environment and proximity to nature. Perfect for longer stays with a relaxing atmosphere and outdoor activities. | Parks, Riga Botanical Garden, Bakeries, Shops, Community recreation centers |
| Jugla | A picturesque lakeside district popular for outdoor activities and recreation. Ideal for guests looking to explore nature or seek a quieter vacation away from the city. | Jugla Lake, Nature trails, Fishing spots, Café at the lake, Cycle paths |
| Latgale Suburb | A unique area with a diverse cultural background, known for its affordable accommodations and local flavor. Attacts both budget travelers and cultural enthusiasts. | Local markets, Art installations, Cultural festivals, Community centers, Churches |
Do you need a license for Airbnb in Riga?
We recommend checking directly with Riga's local government regarding short-term rental licensing requirements. Current market data shows limited licensing information (0% of listings), making it essential to verify current regulations before starting your Airbnb business.
Top Performing Airbnb Properties in Riga
A+ Executive flat with lux sauna
Entire Place • 3 bedrooms
Stylish Liberty Loft Penthouse
Entire Place • 5 bedrooms
Enchanting friends and family oasis
Entire Place • 5 bedrooms
Cozy Villa with sauna and pool.
Entire Place • 4 bedrooms
Harmony apartment/9 guests/4 BR / Riga Old Town
Entire Place • 4 bedrooms
Exclusive Central 2BR Apartment W/ Private Terrace
Entire Place • 2 bedrooms
Top Performing Professional Hosts in Riga
| Host Name | Properties | Grossing Revenue | Stay Reviews | Avg Rating |
|---|---|---|---|---|
| Martin | 85 | $2,130,859 | 4737 | 4.91/5.0 |
| Bnbverit | 60 | $1,021,395 | 5580 | 4.72/5.0 |
| Igor | 29 | $944,444 | 2463 | 4.88/5.0 |
| Greenstone Rentals | 41 | $434,141 | 2568 | 4.49/5.0 |
| Dmitrijs | 27 | $431,880 | 790 | 4.75/5.0 |
| Ieva | 8 | $357,910 | 567 | 4.95/5.0 |
| Oksana | 19 | $346,601 | 560 | 4.79/5.0 |
| Marcis | 16 | $298,880 | 592 | 4.78/5.0 |
| Inta | 26 | $272,682 | 889 | 4.70/5.0 |
| Nikola | 14 | $253,990 | 1789 | 4.84/5.0 |
Additional analytics on vacation rental, real estate, short term rental data in Riga
AirROI also have other key metrics and comprehensive data for your vacation rental, real estate needs. Go explore the advanced metrics that can help you make informed decisions:
Room Type Distribution
Property Type Distribution
Key Insights
- Market dominated by entire home listings (91.4%), with apartment & condo and boutique & hotels properties comprising 96.9% of inventory
- Untapped potential in boutique & hotels, house, outdoor & mobile, others segments (6.3% combined)
Room Capacity Distribution
Analysis of 1,975 properties in Riga shows that 1 bedroom properties are most prevalent, making up 58.4% of the market. The market tends to favor smaller properties, with 1 bedroom and 2 bedrooms together representing 77.0% of all listings.
Key Insights
- Most common: 1 bedroom (58.4%)
- Least common: 4 bedrooms (1.4%)
- Market concentration: 77.0% in top 2 sizes
- Market skew: Favors smaller properties
Guest Capacity Distribution
Analysis of 1,975 properties in Riga reveals that 2 guests properties dominate the market, representing 33.1% of all listings. The average property accommodates 3.6 guests, with a clear trend towards larger guest capacities. Properties accommodating 2 guests and 4 guests make up 63.0% of the market.
Key Insights
- Most common capacity: 2 guests (33.1% of market)
- Least common capacity: 1 guest (1.2% of market)
- Average guest capacity: 3.6 guests per property
- Market concentration: 63.0% in top 2 capacity sizes
- Market segmentation: Predominantly larger guest capacities
Booking and Availability Patterns
Available Days Distribution
Booked Days Distribution
Among 1,975 properties in Riga, the most common availability pattern is 271-366 days (35.7% of properties). For actual bookings, properties most frequently secure bookings for 91-180 days (28.8% of properties).
Key Insights
- Most common availability window: 271-366 days (35.7%)
- Most common booking duration: 91-180 days (28.8%)
- Properties with high availability (180+ days): 64.1%
- Properties with long-term bookings (180+ days): 37.3%
Minimum Stay Distributions
1 Night
657 listings
36.7% of total
2 Nights
639 listings
35.7% of total
3 Nights
263 listings
14.7% of total
4-6 Nights
74 listings
4.1% of total
7-29 Nights
29 listings
1.6% of total
30+ Nights
127 listings
7.1% of total
Key Insights
- Short stays (1-2 nights) dominate the market at 72.4%
- Mid-length stays (4-6 nights) represent 4.1% of listings
- Monthly+ stays (7.1%) suggest a stable extended-stay market
- High market flexibility with 87.1% accepting 3 nights or less
Recommendations
- Set minimum stays between 2-3 nights to align with market standards
- Adjust minimum stays seasonally based on demand patterns
- Consider monthly stay discounts to capture the growing extended-stay market
- Implement different minimum stays for weekends vs. weekdays
Cancellation Policy Distribution
Super Strict 60 Days
7 listings
0.4% of total
Flexible
628 listings
35.9% of total
Moderate
656 listings
37.6% of total
Firm
230 listings
13.2% of total
Strict
226 listings
12.9% of total
Key Insights
- Moderate is the preferred policy at 37.6% of listings
- Guest-friendly policies (Flexible & Moderate) dominate at 73.5% of the market
- Strong market consensus around Moderate policies
- Super Strict 60 Days policies are least common at 0.4% of listings
Recommendations
- Consider starting with a Moderate policy to align with market preferences
- Strong market preference for Moderate policies suggests this should be your baseline
- Consider generous cancellation terms as a competitive advantage
Booking Lead Time Trends
Key Insights
- Peak booking lead times occur in May, Jun, Jul, averaging 56 days
- Shortest booking windows are in Oct, Feb, Nov, averaging 35 days
- Summer shows the longest average booking window at 53 days, while Fall has the shortest at 36 days
Recommendations
- Implement dynamic pricing strategies for Summer bookings at least 53 days in advance
- Consider early bird discounts during Fall to encourage longer lead times
- Focus on last-minute booking promotions during Oct-Nov when lead times are shortest
Popular Airbnb Amenities in Riga
Below is the distribution of amenities across listings in Riga:
Traveler Demographics
Key Insights
- Domestic travelers make up 9.1% of total guests, indicating a mostly international-driven market.
- Primary international markets: Germany (23.4%) and Latvia (18.1%)
- English is the top language at 57.7%, followed by Russian (14%)
- Notable demographic segment in <=1950s (Pre-1950s (Silent Gen)) at 7.4%
Recommendations
- Target marketing campaigns for Riga and London markets
- Develop localized content for Germany and Latvia
- Prioritize English and Russian language support
- Tailor experiences for Pre-1950s (Silent Gen) while maintaining broad age appeal
- Implement seasonal promotions aligned with key market travel patterns
Nearby Markets
Explore short-term rental performance in markets surrounding Riga. These nearby markets offer diverse opportunities for property investors and hosts:
| Market | Properties | Monthly Revenue | Daily Rate | Occupancy |
|---|---|---|---|---|
| Garkalnes pagasts | 11 | $2,159 | $185.22 | 40% |
| Vārzas | 10 | $1,982 | $133.72 | 52% |
| Drabešu pagasts | 28 | $1,353 | $186.85 | 32% |
| Mārupes pagasts | 13 | $1,210 | $160.81 | 34% |
| Tīnūžu pagasts | 15 | $1,068 | $151.47 | 34% |
| Krimuldas pagasts | 14 | $1,040 | $134.17 | 34% |
| Carnikavas pagasts | 31 | $988 | $94.88 | 40% |
| Ādažu pagasts | 10 | $871 | $151.91 | 29% |
| Saulkrasti | 34 | $817 | $108.67 | 39% |
| Mērsraga pagasts | 10 | $768 | $111.88 | 37% |
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