Since the beginning of this year, the Latvian Office of Citizenship and Migration has received nearly 2 thousand applications for a residence permit from Russians. Next to them are Chinese and Uzbeks, according to ee24.com citing varianti.lv.
1955 applications from citizens of the Russian Federation, 278 from citizens of China and 181 from citizens of Uzbekistan were received by the Latvian authorities since the beginning of this year. In addition, there are 108 applications from citizens of Kazakhstan and 58 from residents of the Republic of Belarus. Among other applicants there are citizens of Georgia, Azerbaijan, Kyrgyzstan, Israel, Syria and the United States.
According to Olesya Bogodistaya, head of the international department of ARCO REAL ESTATE, now foreigners are interested in purchasing a property that is suitable for obtaining a residence permit in Latvia. Most of flats and houses foreigners buy from Latvians .
The average price for properties in Riga since the beginning of 2013 amounted to €154,000, and in Jurmala - €310,000. A typical foreign investor is a Russian, middle-class, with family and children. Citizens of China, as it was reported by ee24.com earlier, prefer not to stay in Latvia, but to use the residence permit for travels over Europe .
Buying real estate in Latvia, foreigners contribute to the demand for architects, designers, builders, gardeners etc. Bank (mortgage), transport (taxis, airlines) and other sectors of the Latvian economy are developing due to non-residents who purchase real estate.