Opportunity to obtain a residence permit, revived the Latvian market

Opportunity to obtain a residence permit purchasing real estate, noticeably revived the real estate market in Latvia.

By the real estate agency StayInRiga experts data the purchase process and a residence permit receiving to the company takes minimum time, starting three weeks. How the company's board member Diana Dzalbe told in 2013 has increased demand for apartments worth EUR 143 thousand and more, as well as exclusive objects demand the city center. Apartments price over EUR 143 thousand the transactions in 2013 increased by 8.3%.

Demand has led to rise prices for apartments in the appropriate price category. The average price per square meter in 2013 increased by 3.4% compared with 2012. The highest demand among investors is a full finished apartments in renovated buildings in the Quiet center of Riga(Embassy district) as well as new buildings in the city center and residential areas.

In Latvia’s capital central part the exclusive apartment prices with area from 150 to 300 sq.m ranges from EUR 450 to 500 thousand and can reach several million Euros. Non-residents also active acquire new apartments in prestigious Riga residential districts, which cost up to EUR 200 thousand. So sought apartments in the Old Town buyers are not interested as before.


Company’s StayInRiga experts predict that tend to increase the transactions and price increases in the Latvian real estate market will continue in 2014. Until the changes in immigration law will be introduced, under which in exchange for investments citizens offers get a residence permit. 

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