Buy a house in Latvia and obtain a residence permit
Purchase of house in Latvia has several advantages. Among them are quality products and services, availability to travel across the Europe, variety of cultural events and affordable prices. Many non EU-residents also consider Latvian housing purchase as easiest way to get the EU residence permit.
House in Latvia – chill out in Europe
The most popular houses in Latvia are the ones with area from 150 sq. m up to 250 sq. m. Having purchased a house near capital city, at the sea resort or even in the center of Riga you may count on profitable renting it out. Houses and villas in Latvia are in demand among those who want to send their families for summer vacation to the calm and friendly part of the Eurozone.
Where to buy a house in Latvia
If you decided to buy house in Latvia, local market will provide you a variety of offers depending on your needs. If you have unlimited budget and are accustomed to the rhythm of capital cities, Riga has something to offer you. Jurmala is the second well-known Latvian location popular among wealthy foreigners and Latvians by themselves. But in case you are looking for a summer cottage for your family it’s better to pay attention to less popular but cozier sea resorts with romantic Baltic Sea views and picturesque landscapes. Have a look at the houses for sale in Latvian cities Liepaja or Engure. Both are located near the sea and the first one is called as "the city where the wind is born", and is popular among surfers. When it comes to the selling of house in Latvia, it’s good to remember that tourism industry in country is growing as well as number of foreigners looking for holiday houses or villas there.
What are prices for houses in Latvia?
Besides Jurmala, where prices for houses vary from €4-5 million for luxury villas to €30,000 – 50,000 for economy variants, there are such strategically attractive areas to buy house near Riga as Vecaki, Saulkrasti or Marupe. Prices for houses with a large land plot near the lake in the Bergi outskirt of Riga start from €500,000. Another popular location is Mezaparks area with its magnificent woodland park with walking paths and playgrounds. In Ventspils that is one of the most comfortable and clean cities of Latvia having a beach marked with "Blue Flag", offers of houses for sale are from €1,000 per square meter and that is.
Maintenance cost of house in Latvia and purchase process
Latvian residence permit based on real estate purchase may be obtained when buying a house or villa in Latvia for more than €142,500. Purchase process is simple and will require modest additional payments for registry charge, notary service and tax. Latvian banks give mortgage even to foreign clients but they have to provide 40-60% down payment of the total sum to confirm financial solvency.