Built in the early 17th century. Until the mid-19th century, the town hall was located near the Market Square. At the intersection of Market and Skolas Streets is the oldest (1646) residential building in Ventspils. A popular shopping spot for townspeople and guests.
The Market Square has long attracted the attention of researchers of the ancient buildings and planning of Ventspils. It was once considered the oldest center of Ventspils. The researcher of the historical center of Ventspils, architect Rita Zandberga (1929-1993), once believed that the Market Square was created between the 14th and 17th centuries. However, gradually getting acquainted with the information preserved in the archives, she came to the conclusion that the Market Square was created and the market square complex was built at the beginning of the 17th century, at a time when medieval Ventspils already existed, and therefore it is not the oldest part of the city.
In 2009, reconstruction work took place on the market square and on December 5th it was opened with a grand event. After the reconstruction, the market square has acquired a new paving stone covering, which marks the location of the historical 18th century market farm buildings and the contours of the foundations, which gives tourists the opportunity to get acquainted with the historical layout of the Market Square buildings.
A special "Market Well" with the city's coat of arms has also been built, creating an opportunity for tourists and other market visitors to use the water not only for drinking, but also to wash fruits and vegetables purchased at the market. In sunny weather, the well also functions as a sundial, while four lines extend from its base into the square's cover, indicating the four cardinal points.
The central object of the reconstructed market square is a bell tower with a clock, which symbolizes the once unrealized plan of the mayors to install the city's central clock in the Town Hall tower. The clock combines the interplay of time and sound by placing the clock and rows of bells. The three clock faces each provide different information - Latvian time, the phase of the moon and the corresponding day of the week. On the full hours, the clock plays the melody of the song "By the Amber Sea", but at 12:33 and 00:33, with the accompaniment of Uldis Marhilēvičs' song "Forward, Kurzeme", it announces the special Ventspils time. The bell tower building houses an attractive element - large counting dice, as well as an exhibition of weights, volumes and measures created by sculptor Gļebs Panteļejevs.
The market square was reconstructed with funding from the European Regional Development Fund, Ventspils City Council and the state budget as part of the project "Renovation of the Historical Center of Ventspils for Tourism Development".
There are several drinking water points or outdoor taps in Ventspils, where clean and high-quality water from the centralized water supply system is available. One of them is installed In the market square. The city's free drinking water taps operate seasonally - from May to October.