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Why does Jurmala attract tourists and investors from Russia?

Why does Jurmala attract tourists and investors from Russia?

Why does Jurmala attract tourists and investors from Russia?
  • Why is Jurmala the ideal resort for relaxation and real estate?
  • Why is Jurmala the perfect place for relaxation and living?
  • How has the real estate market in Jurmala changed in recent years?
  • Residential real estate in the picturesque corners of Latvia: what is important to know?

Jūrmala undoubtedly holds a leading position among the resorts of Latvia and the entire Baltic region, located just 25 kilometers west of Riga, the capital of the country. The beautiful beaches with fine white quartz sand stretch for 33 kilometers along the coast of the Gulf of Riga and the Lielupe River, making Jūrmala the fifth largest settlement in Latvia.

Historical context

From a historical perspective, Jurmala originally consisted of numerous small resort villages that gradually merged into one picturesque area. From west to east, 14 residential districts can be identified:

  • Kemeri
  • Jūrmala
  • Sloka
  • Kauguи
  • Vayvari
  • Asari
  • Melluzhi
  • Pumpuri
  • I am not sure what "Яундубулты" means, as it doesn't seem to be a recognizable word in Russian. Could you please provide more context or check the spelling?
  • Dubulty
  • Majors
  • Dzintrai
  • Bulldogs
  • Lielupe

The modern appearance of Jūrmala captivates with the romanticism of wooden houses in the Art Nouveau style; this corner was once part of Riga. Particularly well-known areas, such as Sloka and Kemeri, have attracted members of the Soviet political elite for centuries, becoming popular resorts.

The modern significance of Jūrmala

As of today, Jurmala, despite various political changes, continues to attract Russians not only as a tourist destination but also as a place to purchase real estate. One of the central features of the architecture of this city is the predominance of wooden buildings constructed in the early 19th century and the first half of the 20th century. These buildings were created by Latvian, German, Russian, and Finnish architects and specialists.

Architectural heritage

In the architectural ensemble of Jūrmala, one can observe the fusion of styles such as classicism, national romanticism, and modernism. Currently,414 buildingsand also more4000 wooden structuresThe city’s sites are protected by the state as historical monuments, which highlights their high cultural value.

How to get to Jūrmala?

There are several options, but almost all of them start with a trip to Riga, except for using a personal car. A direct flight from Moscow to Riga, offered by the airlines Utair, Aeroflot, and AirBaltic, takes about an hour and a half. Ticket prices for a round trip start from10,000 rubles.

Another option is to take the trains that connect Moscow and St. Petersburg with Riga year-round. A ticket in a regular carriage costs from3000 rubles...and for a spot in the "luxury" class, it can reach...45,000–52,000 rublesInternational bus lines are also available, such as Ecolines or Lux Express, with ticket prices around3000 rublesone way.

Transport to Jūrmala from Riga

After arriving in Riga, you will need to travel to Jūrmala, which is less than15 kilometersAt this stage, various vehicles are available:

  • taxi
  • route buses
  • car rental

This makes your journey more enjoyable. Jurmala rightfully deserves its reputation as a unique place that harmoniously combines magnificent nature, a rich history, and a vibrant cultural heritage. This corner has the power to delight anyone who visits and to create unforgettable memories.

Trip to Jūrmala

During a trip to Jūrmala, one of the most common ways to reach this wonderful city is by taking the train. It should be noted that the schedule does not list a stop named "Jūrmala," so it's helpful to use the names of local districts for orientation, including Bulduri, Dubulti, Lielupe, and Majori. Additionally, there are other transportation options available: you can take a minibus, rent a car, or enjoy an unforgettable trip on a riverboat departing from Riga.

Climate and beaches

Jūrmala is notable for its cozy climate, which makes it perfect for relaxation at any time of the year, although the peak beach season starts in June and lasts until the end of August. In 2016, five of the city's beaches were awarded the prestigious national "Blue Flag" certification: Jaunkemeri, Dubulti, Dzintari, Majori, and Bulduri. This certification guarantees high standards of cleanliness and service.

Population

According to the latest data, the population of Jūrmala is about 50,000 people, of which approximately 20,000 are representatives of the Russian-speaking community. This community has successfully preserved its culture, language, and culinary traditions, making Russian one of the main languages in the city alongside Latvian.

Educational infrastructure

Educational institutions in Jūrmala are characterized by a high level of development. Here, the following operate:

  • four schools with Russian language instruction;
  • ten Latvian educational institutions, many of which are implementing a bilingual program.

The city also hosts various higher education institutions, including the Latvian Christian Academy and a medical college. Additionally, Jūrmala offers educational services for children with developmental disabilities, as well as a wide range of music and sports schools.

Cultural life

Jūrmala is not just a resort town, but an establishment with a developed infrastructure and a high level of service. Here you can find:

  • four museums;
  • two concert halls;
  • two cultural centers;
  • four exhibition galleries;
  • theater and cinema

Summer is especially rich in various cultural events that attract tourists from all over the world.

Active recreation

For those who prefer an active lifestyle, Jurmala offers a wide range of leisure activities: you can go horseback riding, ice skating, visit gyms and fitness clubs, or swim in one of the fourteen pools located within the city.

Gastronomic traditions

Latvia is known for its fresh produce and high-quality dairy products, as well as its unique traditional cuisine. It's no wonder that modern gastronomic trends and healthy eating concepts harmoniously blend here, turning this region into a true treasure trove for food lovers.

Real estate and residence permits

It is also worth considering that purchasing real estate in Latvia costing from250 thousand eurosIt opens up opportunities for obtaining a residence permit. This, in turn, provides access to visa-free entry into Schengen Area countries, as well as the right to live, work, study, and receive medical assistance if needed.

Why does Jurmala attract tourists and investors from Russia?

The situation in the real estate market in Jurmala remains intriguing, despite a noticeable decline in interest from Russian investors, who previously played a dominant role in this market. In recent years, there has been a stagnation in sales, and currently, apartments are in significantly lower demand compared to the period before mid-2014.

Groups of potential buyers

The analysis of the current situation shows that several groups of potential buyers have emerged, interested in purchasing property in this resort town. The first category includes those looking for properties in the range of €250,000 to €300,000, often fully furnished.

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Their main goal in buying is the opportunity to obtain a residence permit.

The second group of buyers is more selective: they carefully study the market and do not feel pressured by strict budget constraints, usually considering properties priced around €500,000. Most of them do not anticipate the need to obtain residence permits.

The first two categories of buyers are mainly made up of Russians, while citizens of neighboring post-Soviet countries, such as Ukraine, Kazakhstan, and Uzbekistan, most often fall into the first category or choose more affordable properties.

Interest of foreign buyers

In recent years, residents of Germany and other European countries have also shown interest in real estate in Jurmala. This trend reflects the immigration crisis that has affected many countries in Europe. Real estate experts note that foreign buyers are eager to find unique and unusual resort homes here.

Primarily, these are mansions that vary by price segments:

  • If the houses are located further from the coastline, the most attractive price range becomes €300,000 to €400,000.
  • On the second line from the beach, house prices start at €500,000.
  • For real estate in the city center – starting from €1 million.

There is also an increase in demand for properties purchased for summer living by families, while the percentage of buyers interested in investing in real estate for subsequent rental remains low.

Promising areas for investment

As for the most promising areas for investment, three well-known locations in Jurmala are leading the way: Bulduri, Dzintari (located beyond the railway), and Majori. These areas represent a unique center of resort life with a high price category.

Here are the key new luxury projects that have been developed in recent years. Investors are paying attention to these locations as they are actively developing infrastructure and providing modern living conditions, making them particularly attractive to buyers looking for high-quality housing in Jurmala.

In the context of a changing real estate market, understanding the demands of various categories of buyers and the active development of neighborhoods can be the key to successful investments in this segment. Moreover, the growing interest from European companies and private individuals opens new horizons for the real estate market in Jurmala, shifting the focus from the previous dominant players to a broader range of potential investors and buyers.

Residential areas of Latvia

Lielupe, Bulduri, and Dzintari, especially the Dzintari area up to the railway, are amazing spots known for their luxurious villas, mansions, and high-end modern residential complexes. The advantages of these areas lie in their proximity to the coast, well-developed infrastructure, and the overall sense of comfort and prosperity they offer to their residents.

Resort life in Majorca

If you want to be in the heart of resort life, then Majori will be a great choice. Here you will find the famous Jomas Street, where everyone can easily discover interesting restaurants, cozy cafes, various shops, spas, and the renowned Dzintari Concert Hall, known for its popular concerts and festivals.

Popular neighborhoods for living

The districts of Dzintari, Dubulti, Pumpuri, Melluzi, and Asari (especially Kapu Street) are also of great interest. Most residential properties are located a short distance from the sea, except for Kapu Street, which is very close to the shore and is considered a prestigious area with many expensive houses. Experts point out that real estate transactions are taking place in other areas as well, but the demand for property depends on an adequate balance between price and quality of the property.

Real estate prices

As for the pricing policy, apartments in new buildings in areas such as Bulduri, Dzintari, and Majori range from€3500to€7000per square meter. This cost is determined by various factors:

  • project;
  • position;
  • quality of finishing;
  • distance from the sea.

On the secondary market, there are offers with prices starting from€3200to€5000per square meter. For example, spacious 60-square-meter one-bedroom apartments in Dzintari, located near the sea, start at€140,000.

Apartments and flats

Compact apartments with an area of23 square metersIn the primary market in Bulduro, prices are estimated to be around€90,000Although such small apartments are usually quite rare, as elite residential complexes are more commonly built in this area. Elite houses with their own land plots are valued on average at€2000per square meter, and the cost of acquiring them usually exceeds€1 million.

New projects and the secondary market

In the new residential projects in Dzintari (across the railway), Lielupe, Dubulti, Pumpuri, Melluži, and Asari, the price per square meter ranges from€3000to€5000These rates depend on many factors:

  • specific project;
  • availability of finishing;
  • locations;
  • distance from the sea.

The average price for housing in the secondary market in these areas ranges from€2500to€3500per square meter. For example, you can find an apartment with an area of49 square meterson the secondary market in Lieulup, located just a 15-minute walk from the sea, starting at€91,000.

Houses and summer cottages

In these areas, houses and summer cottages with plots of land are also offered.1200-1400 sq. m.

Conclusion

Jūrmala is not just a resort, but a true corner where history, culture, and modernity harmoniously intertwine. Walking through its cozy streets, I felt an atmosphere of calm and tranquility, where every corner is filled with history. This city captivates not only with its picturesque views of the coastline with white quartz sand but also with its unique architectural heritage. The wooden houses in the Art Nouveau style, built in the early 19th to the first half of the 20th century, seem to tell stories of the past from the times when Jūrmala's health resorts were chosen places for the elite to relax.

Convenience of getting there

I can't help but mention how convenient it is to get to this wonderful place. With accessible flights, trains, and buses, traveling becomes:

  • Comfortable,
  • Available.

I was pleasantly surprised by how quickly you can get to Jūrmala from Riga, as well as by the variety of local transportation options available. This makes traveling to Jūrmala even more appealing for tourists.

Climate and leisure

The climate here is truly conducive to relaxation at any time of the year, but especially in the summer when the beaches are filled with people and the atmosphere is filled with joy and fun. With the receipt of quality certificates“Blue Flag”The local beaches showcase their high standards, making a vacation here even more appealing. It is also important to note the cultural diversity created by the ethnic Russians living here who have preserved their traditions.

City life

Jūrmala is not just a resort, but a full-fledged city that has everything necessary for life:

  • The education system is well-developed.
  • Healthcare system,
  • Cultural life.

I was impressed by the variety of options for outdoor activities, including horseback riding, fitness clubs, and theaters, which makes this city even more appealing to a wide audience.

Investment opportunities

And, of course, we must not forget about the investment opportunities. Acquiring real estate in this beautiful place opens the door to a new lifestyle amidst the cultural and historical heritage of Latvia, as well as providing benefits such as obtaining a residence permit.

Result

Thus, Jurmala is the perfect place not only for a summer vacation but also for permanent living. It is a city where life goes on, and where everyone can find something for themselves:

  • Enjoying culture,
  • Active recreation,
  • New opportunities for business.

I can only recommend everyone to visit Jūrmala and discover this amazing corner of the Baltics that will leave no one indifferent.

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