Latvia’s state-managed real estate portfolio totals just over 1 million m², according to data from the state asset manager.
State-owned company Valsts nekustamie īpašumi (VNĪ), which manages part of Latvia’s public real estate, reports:
- Core portfolio: 694.5k m² (vacancy 1.6%)
- Active portfolio: 111.4k m²
- Disposal portfolio: 205.2k m²
Total managed area: ~1.01 million m²
In Vecrīga, VNĪ manages 113.5k m² with vacancy around 3%.
VNĪ covers only ~16% of all state-owned building space, while the rest is distributed across 100+ public sector managers.
The figures reflect only the share of assets managed by VNĪ, not the full stock of state-owned real estate in Latvia.
For comparison, Lithuania’s centralized state asset manager Turto bankas oversees about 10.6% of state real estate, while Estonia’s main state property manager Riigi Kinnisvara manages around 22%.
Low vacancy (1.6%) applies to a well-managed subset, not the whole system.
With over 100 managing entities, the key issue is not empty space, but fragmentation and limited visibility of the total asset base.
Data basis
VNĪ portfolio data, April 2026.
Interpretation: segmented portfolio (core / active / disposal), not full state inventory.