Nascent but rapidly emerging PBSA market in the Baltics. University dormitories dominate with new co-living operators (SHED, Duck Republik) entering the modern segment.
University dormitories control 76%, modern co-living operators emerging in Riga with SHED and Duck Republik
| City | Students | Current Beds | Bed Gap | Students/Bed | Priority |
|---|---|---|---|---|---|
| Riga | 48,000 | 7,200 | 0 | 6.7 | 🟢 BALANCED |
| Jelgava | 5,800 | 450 | 420 | 12.9 | 🟡 MODERATE |
| Daugavpils | 3,200 | 280 | 200 | 11.4 | 🟡 MODERATE |
| Liepaja | 2,100 | 180 | 135 | 11.7 | 🟡 MODERATE |
| Valmiera | 1,500 | 150 | 75 | 10.0 | 🟢 MODERATE |
| Other Regional | 10,400 | 240 | 1,320 | 43.3 | 🔴 HIGH |
University of Latvia leads, SHED and Duck Republik pioneering modern PBSA
University-dominated with growing private sector
Riga dominates with 85% of beds, regional markets significantly underserved
Two views of the Latvia Purpose-Built Student Accommodation (PBSA) market. Where cities are crowded, markers group into a count, click or zoom to fan them out.
Data: RAYSolute Latvia Student Housing Market workbook, as of January 2026. Compiled from publicly available official Latvian sources (including the Central Statistical Bureau of Latvia and university data) and RAYSolute's own research and analysis. Basemap and geocoding © OpenStreetMap contributors, © CARTO and Esri. University markers are geocoded approximations; operator markers are positioned indicatively at each operator's primary market (operators are multi-city).
10K international students (14% of total), India is leading source market with 18% share
University of Latvia leads; RSU has highest intl concentration (25%)
India leads with 18%, diverse European and global mix
New co-living concept offers 3x rent but premium amenities
Latvia's 12% vs UK's 54%, significant growth potential
Latvia offers affordable living, total costs €470-1,150/month
Tuition: €800-12,000/year depending on program (RSU Medicine: €12,000)
Riga dominates with 94% of organized sector revenue
€24.5M development activity 2023-2026, SHED pioneering modern PBSA segment
3.7x premium for modern co-living vs basic dorms
Insight: International students willing to pay premium for quality, segment is underserved
Early-stage Baltic market with proven co-living demand. SHED's 2023 success validates modern PBSA concept. EU membership provides regulatory stability. Strong growth potential with limited competition.
First-mover advantage in Baltic PBSA with proven co-living model
International students increasingly rely on AI assistants for accommodation research before arriving in Latvia
Access our comprehensive library of reports, guides, and industry insights
Selected resources for your research journey
PBSA market research, feasibility studies and investment due diligence across 30+ global markets.
Read more → Report Indian Student Mobility Report 2024Where Indian students are going, in what numbers, and what student housing they need at destination.
Read more → Report Australia Student Housing Report 2026Supply, demand, yield data and investment signals for Australia's PBSA market.
Read more → Report UK Student Housing Report 2026PBSA pipeline, university partnerships and investment returns by UK city.
Read more → Report USA Student Housing Report 2026Market data across top university cities for PBSA investors and operators.
Read more → Report Canada Student Housing Report 2026PBSA opportunities, supply gaps and investment signals across Canadian university cities.
Read more →This report is published by RAYSolute Consultants for general information and market commentary only. It does not constitute investment, financial, legal or tax advice, nor an offer, inducement or invitation to engage in any investment activity. All figures are indicative estimates compiled from public and third-party sources together with RAYSolute analysis, are subject to change, and should be independently verified before any decision is taken. RAYSolute accepts no liability for any reliance placed on this material. Company, university and market names appear for factual reference only; no affiliation, endorsement or sponsorship is implied.
Sources: compiled from publicly available official Latvian sources (including the Central Statistical Bureau of Latvia and university data), and RAYSolute's own research and analysis. Data as of January 2026. Interactive map basemaps © OpenStreetMap contributors, © CARTO and Esri.