Powerful Growth: Invego Sold More Than Twice as Many New Homes in Latvia Than Last Year

Estonian real estate developer Invego sold 76 new homes in Latvia during the first six months of 2026, which represents 130 percent growth compared to the same period last year.

According to Invego's head Kristjan-Thor Vähi, the strong half-year result demonstrates that the company's strategy in the Latvian market has proven itself and demand for 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 equal last year, this year the Latvians have clearly made up the difference," comments Vähi, noting that Estonians also play a role in Latvia's sales success. "Private investors are attracted to favorable entry prices in the Latvian market, and so Estonians have already purchased several dozen apartments in our developments," explains Vähi.

Invego is currently developing eight different residential neighborhoods in and around Riga, of which Vitolu Parks was the most popular in the first half-year, with 20 new homes sold over six months, followed by Parka Kvartals and Tornakalna Terases residential neighborhoods with 13 and 11 homes respectively. "Currently, the Marupe's Sirds residential neighborhood near Latvia's capital is gaining increasing popularity, which Invego is developing together with EfTEN Special Opportunities Fund," adds Vähi, who notes that of the 76 homes sold in the first half-year, Invego sold as many as 26 in June. "A third of June's sales were made in our newest and most ambitious development, Nordale. For investment apartments, Skanstes Rezidences, which will be completed in the coming months, is popular, as well as Miera Rezidences and Tornakalna Terases, which are just starting construction," says Vähi.

Over the past year, Invego has begun developing and selling four new residential neighborhoods in Latvia. "The segment of quality and at the same time affordable homes has grown very rapidly in Riga's real estate market. Increasingly, attention is being paid not only to the apartments themselves, but to the overall living environment that makes up the developed neighborhood. Similar to Estonia, Invego invests in quality architecture in the Latvian market as well, the integrity of residential neighborhoods, thoughtfully planned public spaces and landscaping, because this comprehensive approach appeals to buyers the most," explains Invego's head, noting the reasons behind the popularity of the company's new developments.

Invego Group is a next-generation real estate developer operating in three countries, specializing in creating large residential neighborhoods and business quarters with comprehensive concepts that shape the urban space of the future. With more than 10 years of operational history, the Invego Group includes over 60 companies in Estonia, Latvia and Portugal, and currently has 30 different development projects underway. Invego Group has developed over 150,000 m² of residential space, totaling 1,500 homes, and 50,000 m² of commercial real estate. In addition, there are still over 500,000 m² of development volumes in both residential and commercial real estate sectors.

In recent years, Invego has built new homes for more than a thousand families in Tallinn and its surroundings. The largest developments completed to date are Vana-Peetri, Tiskreoja and Tabasalu Kodu, and the currently ongoing residential neighborhoods are Luccaranna, Uus-Järveküla, Keila Pargikodude and Verve.