Real Estate in Latvia - Finding property
Finding suitable real estate in Latvia can be a very long and tiring process. The local real estate market offers many opportunities, only a part of which can be actually called
a worthy investment. Usually real estate agents are used to help find the appropriate offer. However, using a law firm for this purpose may also bring a few additional benefits.
Here we offer you a step-by-step guide on how to find real estate that satisfies your needs.
STEP 1 – Researching the real estate market
First of all, you should start by researching the local real estate market. You can do it yourself, but it is going to take some time. Local real estate companies and law firms offer consultations and di research on the available real estate, so this can be a lot of assistance for you.
STEP 2 – Make a decision on your reasons for the purchase of real estate
At this point you have to decide for what purpose you require the real estate. If you require it in order to receive a residence permit, you should keep in mind all the applicable requirements. (read here)
STEP 3 – Choosing the correct type of real estate
You may purchase a residential property (a house or an apartment), commercial real estate (factory, office, warehouse) or you may purchase a plot of land. Each of these options has it's own pros and cons, so your choice should be based on what you plan to do with your property in the future. Then you need to go for the option that you deem to be best for you.
STEP 4 – Deciding on the location of the real estate
You need to decide where you want your real estate to be located. We would point out two major options here: purchase of the real estate in Riga or in another big city (see the list) or in another part of Latvia. If these two options are compared, we may say they are pretty much the same, with just a few exceptions. First, there is a higher demand for real estate in Riga and Jurmala. Second, location largely affects the price, and it is important in order to apply for a residence permit. If you are thinking about real estate in Riga – see our real estate map to discover, which area is more in demand.
STEP 5 – Searching for a perfect solution
You can do it yourself, but we strongly recommend you to hire professionals in order to save yourself time, patience and money. Very often local owners increase the price if approached by a foreigner. That is why a group of local professionals will do the work more effectively. Searching for and checking property as well as negotiating with owners will be done better by professionals who know the local real estate market and language. (Our services)
Once you have located real estate that satisfies all your needs and requirements, you can proceed to the next step – the purchase of the real estate.
We can provide you all the required information on real estate in Latvia. If you wish to learn more, please contact us!