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Property Investment in Latvia as a Foreigner

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

11%

Year-to-year increase in property prices in 2025

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

Real estate in Latvia

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Latvia, Riga

€350,000+

Exclusive apartments, quiet center of Riga
square icon84 m²
bed icon2
bathroom icon2
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Latvia, Riga

€259,000+

Cosy apartments, center of the city, Riga
square icon81 m²
bed icon3
bathroom icon1
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Latvia, Riga

€269,000+

Apartments in classical style, historical center, Riga
square icon68 m²
bed icon1
bathroom icon1
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Individual selection of investment properties

  • Discuss your tasks and goals

  • Choose between properties from reliable developers

  • Get fully prepared and verified documents for a purchase

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Latvia residence permit or citizenship by real estate investment

Until September 15th, 2026, foreign property buyers could obtain Latvia residence by investment. The updated Immigration law abolished this option, and investors now have two options available — business investment and contribution to an alternative state fund.

Investors with Latvia residence permits travel around the Schengen Area without visas.

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

Explore real estate market trends across 41 European countries

Explore real estate market trends across 41 European countries

  • Master the residency process
  • Get expert tips and documents
  • Estimate costs accurately
Download practical guide
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Taxes and associated costs

Purchase taxes

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 between 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.

VAT — only for new buildings

21% of the transaction amount

Stamp duty

2% of the transaction amount

Notary fee — it is not necessary to involve a lawyer

0.6%, VAT included

Ownership taxes

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.

Electricity, gas, water, heating, and garbage collection

€280—350 per month

Internet, TV and telephone

€40—70 per month

Sale taxes

Property sellers pay a capital gains tax of 20 to 31.4% on the difference between the sale and purchase prices.

The agency fee ranges between 2 to 5%.

Capital gains tax — paid on the difference between the purchase and sale prices

20%

Agency fee

3—5%

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 and status
Investments
Status
Time required
mt-flagmt-flag
Malta29 properties

€375,000+

Permanent residency

6+ months

Show 29 properties

€375,000+Permanent residency6+ months
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gd-flaggd-flag
Grenada44 properties

$270,000+

Citizenship

8+ months

Show 44 properties

$270,000+Citizenship8+ months
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ae-flagae-flag
UAE158 properties

AED 750,000+

Residence permit

2+ months

Show 158 properties

AED 750,000+Residence permit2+ months
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es-flages-flag
Spain38 properties

Not limited

Residence permit

4+ months

Show 38 properties

Not limitedResidence permit4+ months
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pt-flagpt-flag
Portugal75 properties

Not limited

Residency after D Visas

6+ months

Show 75 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.

me-flagProperty Investment in Montenegro as a Foreigner

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-flagProperty Investment in Luxembourg as a Foreigner

Foreigners can freely buy, sell and rent out real estate in Luxembourg. Statistics confirm the liquidity of investments: residential...

€10,500

Average price per 1 m²

2.6%

Average price growth per quarter

Learn more
is-flagProperty Investment in Iceland as a Foreigner

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
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.