Apartment in Latvia is the most affordable European residence permit
Flats in Latvia attract attention of many investors and those who are looking for second home abroad. Latvia that has recently become a part of the Eurozone (since 1January 2014), currently offers European comfort and stability for still affordable price.
Apartment in Latvia – it’s time to hurry up!
When purchasing an apartment in Latvia for more than €142,500 you may count on residence permit. Today it’s the best offer in the Eurozone allowing visa-free Shengen traveling. And this residence permit doesn’t require any particular time of actually residing in Latvia. The local authorities are discussing the possibility of raising the minimal cost to get residence permit based on real estate purchase since 1 September 2014.
Buy your own apartment in Latvia
Buying apartment in Latvia may be considered as good investment as prices are increasing. Attractive offers of apartments for sale in Latvia within the limit of €142,500 are not easy to be found in Riga and Jurmala, that are the most popular locations. Primary market in Latvia has many interesting offers, for example, in Imanta, Ozolnieki, Jelgava and Smiltene.
Prices for apartments in Latvia – you can afford more
Apartments prices in center of Riga start from €180,000-200,000. For €197,000 may be bought 2 bedroom apartment in the center of Riga located 5 minutes away by car from the Old City in recently renovated building. Primary market is more attractive. For example in promptly developed and promising Imanta area 1-bedrom apartment of 47 sq.m. in new complex with one bathroom, installed sanitary equipment and built-in floor heating, a modern kitchen with built in furniture and home appliances and 5.3 sq.m. balcony costs €70,500 In Jurmala prices for apartments are about €2500 per sq.m.
Latvian apartments are easy to buy
Apartment purchased in Latvia may be profitably rent out. The most popular are one or two bedroom apartment in Latvia as they are suitable for business traveling and family holidays. When planning a process of apartment purchase in Latvia, one may count on mortgage. In common the interest mortgage rate for non-residents in Latvia is about 5-6% per annum.