Real Estate in Latvia
Last updated on Sep 04, 2023
Summary: An expat searching for a home to buy in Latvia should begin by researching the local real estate market. They should look for listings on real estate websites, such as Zemesgramata, and contact local real estate agents for more information. Homes in Latvia typically include basic amenities such as a kitchen, bathroom, and bedrooms. Many homes also have a garden, balcony, or terrace. Foreigners are allowed to purchase properties in Latvia, but there are some restrictions. Non-residents must obtain a permit from the Ministry of Justice before they can purchase a property. Additionally, foreigners are not allowed to purchase agricultural land or land located in protected areas.
How do I find a place to live in Latvia?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One of the best ways to find a place to live in Latvia is to use online resources such as real estate websites. These websites typically list a variety of rental properties, including apartments, houses, and other types of dwellings. Additionally, you can search for rental properties on social media platforms such as Facebook and Twitter. Additionally, you can contact local real estate agents who can help you find a suitable place to live. Additionally, you can also look for rental properties in newspapers and other publications. Finally, you can also ask friends and family who live in Latvia for advice and recommendations," said one expat in Latvia.
Get Quote
Relocating abroad soon? Make your move with AGS! AGS Worldwide Movers is a leader in the international moving industry. Our experience and expertise allows us to guarantee our clients the best quality moving services.
Relocating abroad soon? Make your move with AGS! AGS Worldwide Movers is a leader in the international moving industry. Our experience and expertise allows us to guarantee our clients the best quality moving services.
Get Quote
What is a typical expat home or apartment like in Latvia?
"Expat homes and apartments in Latvia tend to be modern and comfortable, with a range of amenities to suit different lifestyles. Many expats choose to live in the capital city of Riga, which offers a variety of housing options, from luxury apartments in the city centre to more affordable options in the suburbs. Expats can also find homes in other cities and towns throughout Latvia, with a variety of styles and sizes to choose from. Most expat homes and apartments come with modern appliances, such as washing machines and dishwashers, as well as internet access and cable TV," remarked one foreigner who made the move to Latvia.
What is the average cost of housing in Latvia?
If you are thinking about moving to Latvia, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Latvia varies depending on the location and type of property. Generally, the average cost of renting an apartment in Latvia is relatively affordable compared to other European countries. Prices for apartments in the capital city of Riga range from around €400 to €1,000 per month, while prices for apartments in other cities and towns are usually lower," explained one expat living in Latvia.
Should I buy or rent a home in Latvia?
If you have not spent a lot of time in Latvia, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Latvia can be a great investment, as the country has a strong economy and a growing real estate market. However, it is important to consider the costs associated with buying a home, such as closing costs, taxes, and maintenance fees. Renting a home in Latvia can be a more affordable option, as it does not require a large upfront investment. Additionally, renting can provide more flexibility, as it allows you to move more easily if your circumstances change. Ultimately, the decision to buy or rent a home in Latvia should be based on your individual needs and financial situation," said one person in Latvia.
What do I need to know when buying property in Latvia?
When we asked expats what advice they would give a foreigner before buying a property in Latvia, they said:
"1. It is important to research the local market and understand the current trends in the area before making a purchase. 2. It is important to understand the legal requirements for purchasing property in Latvia, including any taxes or fees that may be applicable. 3. It is important to have a clear understanding of the property's title and any restrictions that may be in place. 4. It is important to have a clear understanding of the property's condition and any potential risks associated with it. 5. It is important to have a clear understanding of the local infrastructure and amenities available in the area. 6. It is important to have a clear understanding of the local rental market and any potential rental income that may be available. 7. It is important to have a clear understanding of the local economy and any potential economic risks associated with the purchase. 8. It is important to have a clear understanding of the local political environment and any potential risks associated with the purchase. 9. It is important to have a clear understanding of the local banking system and any potential risks associated with financing the purchase. 10. It is important to have a clear understanding of the local currency and any potential risks associated with currency fluctuations," wrote one expat who made the move to Latvia.
Are foreigners allowed to own property in Latvia?
When we asked expats what advice they would give a foreigner before buying a property in Latvia, they said...
"Yes, foreigners are allowed to own property in Latvia. Non-residents of Latvia are allowed to purchase real estate in the country, however, they must obtain a permit from the Ministry of Justice in order to do so. Additionally, foreign investors are allowed to purchase land in Latvia, but they must register the land with the Land Register of Latvia," said one foreigner living in Latvia.
What appliances are typically included in a rental?
We asked foreigners in Latvia what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"In Latvia, rental properties typically include a refrigerator, stove, oven, and washing machine. Other common appliances may include a dishwasher, microwave, and clothes dryer. Depending on the property, additional amenities such as air conditioning, a television, and internet access may also be included," explained one person living in Latvia.
Additional Information about Searching for a Home in Latvia:
We asked foreigners in Latvia what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats can search for homes in Latvia by looking online for real estate listings, contacting local real estate agents, and searching for rental listings on websites such as Airbnb. Additionally, expats can look for housing options in local newspapers and magazines, or ask friends and family for recommendations," remarked one foreigner who made the move to Latvia.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
Other Questions:
- How do I meet people in Latvia?
- What is life like as an expat in your area?
- Is there a lot of crime in Latvia?
- What do I need to know before retiring in Latvia?
- Is there a lot of diversity? Are people in Latvia accepting of differences?
- What are the schools in Latvia like?
- Is the cost of living in Latvia high?
- What advice do you have for expats having a baby in Latvia?
- What are healthcare services like in Latvia?
- Is the cost of living in Latvia high?
- What type of recreational facilities are in Latvia?
- What is the weather like in Latvia?
- Are there good restaurants in Latvia?
- Where will I buy groceries and do other shopping in Latvia?
- What are the visa & residency requirements in Latvia?
- Are healthcare and health insurance expensive in Latvia?
- What do I need to know when buying property in Latvia?
- Are foreigners allowed to own property in Latvia?
- What appliances are typically included in a rental?