Real estate investment in Latvia

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.