Frequently asked questions about real estate in Latvia
What is the average cost of real estate in Latvia?
Real estate prices in Latvia vary depending on its newness. On the primary market, the cost of a square is 2500-3500 euros. Apartments and houses of the old stock have a price per sq. m. set between 600-2000 euros.
The cost of properties in real estate advertisements in Latvia also depends on their class. Houses and apartments with the maximum degree of comfort are valued at 10-20% higher than the market price.
What requirements should foreigners buying real estate in Latvia take into account?
Foreigners can purchase all types of property in unlimited quantities. If you buy housing in Latvia on a plot of land, you will need permission from the municipality. To conclude a transaction, you only need to have your passport with you.
What taxes and fees are payable if you buy real estate in Latvia?
The purchase tax applies only to the primary market - 21% of the transaction value. For the purchase of primary and secondary housing, foreigners also pay two fees - stamp duty in the amount of 2% of the price of the property and registration (22 euros).