On April 29, 2014, deputies of Latvian Saeima, members of the Commission on the national economy, decided to increase the value of the property needed to obtain a residence permit, from September 1, 2014, according to ee24.com citing baltic-course.com.
Recall that local realtors and foreign buyers were looking forward to know the date of implementation of new rules for issuing a residence permit in Latvia. Experts named several dates, including July 1 or August 1, 2014, and January 1, 2015.
Now it seems the since the first autumn day the cost of residence permit will be increased almost twofold: to obtain it a foreigner will need to buy real estate in Latvia for at least €250,000. However, the proposal of the parliamentary commission about terms must be approved by the Saeima.