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%. Seven years ago, an apartment of 100 m² cost an average of €90,000, and today it is sold for €250,000.

€2,500

Average price per 1 m²

250 000 €

Real estate investment for residency

2.6—23.6%

Associated costs, of the property value

How the residential property price index is growing in Latvia

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Cost of a 3-bedroom apartment in Latvia

€2.5 million

Apartment in Jurmala, on the first coastline with beach access

€500,000

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

€250,000

Apartment in Riga

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Minimal real estate investment amount in Latvia

The minimum value of the property must be at least €250,000. The property must be purchased only from a legal entity or individual resident of Latvia. The property must not be located in special administrative regions.

After purchasing the property, you must pay a state fee, which is 5% of the value of the property.

Discover real estate market trends in 41 European countries

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Discover real estate market trends in 41 European countries

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Taxes and associated costs

Countries to buy a property and get residency or citizenship

We offer proven properties that comply with the conditions of government programs for investors. You can buy real estate and obtain a residence permit or citizenship.

Country
Property investments
Status
Obtaining time
mt-flagmt-flag
Malta12 properties

€300,000+

Permanent residency

6+ months

Show 12 properties

€300,000+Permanent residency6+ months
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gd-flaggd-flag
Grenada21 property

$270,000+

Citizenship

8+ months

Show 21 property

$270,000+Citizenship8+ months
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ae-flagae-flag
UAE114 properties

AED 750,000+

Residence permit

2+ months

Show 114 properties

AED 750,000+Residence permit2+ months
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es-flages-flag
Spain36 properties

€500,000+

Residence permit

5+ months

Show 36 properties

€500,000+Residence permit5+ months
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pt-flagpt-flag
Portugal67 properties

Not limited

Residency after D Visas

6+ months

Show 67 properties

Not limitedResidency after D Visas6+ months
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40+ guides with European countries

Find out how much it costs to buy and rent real estate in each country, what the market dynamics are and what taxes you need to pay when buying and selling.

no-flagReal estate investment in Norway

Foreigners can freely buy, lease and sell housing and commercial real estate in Norway.

€5,266

Average price per 1 m²

1,2%

Average price growth per quarter

Learn more
me-flagReal estate investment in Montenegro

Foreigners can buy and sell real estate or rent it out with few restrictions. Foreigners are prohibited from buying agricultural land...

€2,100

Average price per 1 m²

24%

Inflation-adjusted price growth in 2024, year-on-year

Learn more
lu-flagReal estate investment in Luxembourg

Foreigners can freely buy, sell and rent out real estate in Luxembourg.

€10,500

Average price per 1 m²

2.6%

Average price growth per quarter

Learn more
is-flagReal estate investment in Iceland

Foreigners can buy, lease and sell properties without restrictions in Iceland. The sale of land to foreigners is prohibited. The land on...

€4,405

Average price per 1 m²

2,5%

Average price growth per quarter

Learn more
de-flagReal estate investment in Germany

Germany does not limit the sale of properties to foreigners: one can buy and sell housing and commercial real estate or rent it out.

€5,770

Average price per 1 m²

1,9%

Average price growth per quarter

Learn more
ee-flagReal estate investment in Estonia

Foreigners can freely buy and sell apartments in Estonia. Buying land with a house is not allowed in all areas. A legal entity can buy a...

€2,734

Average price per 1 m²

2,4%

Average price growth per quarter

Learn more
Frederick Ellul

Material prepared by Frederick Ellul, Lawyer and Immigrant Invest's partner in Malta

Updated:

Frequently asked questions

  • Can a US citizen buy property in Latvia?

    Yes, a US citizen can buy property in Latvia. There are generally no restrictions on foreigners, including US citizens, when purchasing residential or commercial real estate in Latvia. However, like many countries, there may be restrictions on purchasing agricultural or forest land.

  • Is Latvia cheap to live in?

    Latvia is generally considered affordable compared to Western European countries. The cost of living in Latvia, including housing, food, and transportation, is lower than in many other EU countries. However, living costs in Riga, the capital, may be higher than in rural areas or smaller towns.

  • What is the average house price in Latvia?

    The average house price in Latvia varies depending on the location. In Riga, the average price per m² for a residential property is around €2,500. In smaller cities and rural areas, the prices can be significantly lower, sometimes as low as €1,500 to 2,000 per m².

  • What is the tax on property sales in Latvia?

    The tax on property sales in Latvia is 20—31.4% of the capital gains. However, if the property has been owned for at least 60 months and has been the primary residence for at least 12 months before the sale, the seller may be exempt from capital gains tax.