St. Julians, Malta
Dragonara Business Centre, Office 506, Dragonara Road,
Paceville, St Julian’s, STJ 3141 Malta
+356 (277) 811-04
Vienna, Austria
Doblhoffgasse 9, 1010
+43 (650) 540-49-79
All offices

Real estate investment in Latvia

Foreigners can freely buy, sell and rent out real estate in Latvia. The sale of land to foreigners is limited: to buy a plot with a house, you need permission from the municipality.

Statistics confirm the liquidity of investments: residential real estate prices grow every quarter by an average of 2.3%. Five years ago, an apartment of 100 m² cost an average of €90,000, and today it is sold for €136,000.

1360 € Average price per 1 m²
of housing in Latvia
250 000 € Minimum investment amount
to get permanent residence
2,6—23,6% Buyers’ related expenses,
of the transaction amount

Cost of a 3-bedroom apartment in Latvia

€2.5 million

Apartment in Jurmala, on the first coastline with beach access


Apartment in Riga, in a 10-minute drive from the Dome Cathedral


Apartment in Riga

What do investors buy?

The most expensive real estate is in the capital, Riga, and a resort, Jurmala.


  • penthouses and duplexes
  • attic apartments
  • apartments


  • townhouses
  • villas
  • estates and castles

Latvia residence permit or citizenship by real estate investment

Latvia has a state residence permit program for investors. A residence permit is obtained by purchasing real estate worth more than €250,000. Investors with Latvia residence permits travel around the Schengen Area without visas.

Five years after obtaining a residence permit, you can apply for permanent residency and apply for citizenship after another five years.

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Taxes and associated costs


Property buyers pay stamp duty and a notary fee. When buying a new building, an additional value-added tax is paid.

Associated costs will range from 2.6% to 23.6% of the purchase agreement value. When buying a new apartment worth €250,000, the investor will spend €309,000, including additional costs.

2.6—23.6% Of the contract value are related costs for the purchase of housing in Latvia
Purchase expenses

Only for new buildings


Of the transaction amount

Stamp duty

Of the transaction amount

Notary fee

It is not necessary to involve a lawyer


VAT included


Property owners pay an annual tax at a progressive rate of 0.2% to 0.6% of the cadastral value.

Non-residents pay a 20% tax on income from real estate rental in Latvia.

€1,980 Approximate annual costs for maintenance of an apartment

Communal payments

Electricity, gas, water, heating, and garbage collection

per month

Internet, TV and telephone

per month

Property sellers pay a capital gains tax of 20% on the difference between the sale and purchase prices.

The agency fee ranges from 2% to 5%.

20% Capital gains tax on the sale of real estate in Latvia
Expenses on the sale
Capital gains tax

Paid on the difference between the purchase and sale prices

Agency fee