Investment property: Latvia

Updated 6 October 2026

Latvia is a European Union market with two clear anchors: Riga as the business capital of the Baltics and Jurmala as a historic seaside resort.

Foreigners can buy property here largely without restrictions - both apartments and houses with land, subject to formalities for certain land categories. Latvia has abolished residence for buying property: the new Immigration Law, in force since 15 September 2026, removed this ground. Since 2025 citizens of Russia and Belarus have been banned from buying property in Latvia, with exceptions for inheritance, court rulings and a single home with permanent residence obtained before the ban.

We work from the objective: an EU asset, rental income, a home by the sea, or a purchase tied to a residence permit. We shortlist properties to match, verify legal title through the land registry (ownership, encumbrances, debts), handle the notarized transaction and payments, and assist with ownership structuring and non-resident tax questions. If residency is the goal, we find another ground, such as investing in the capital of a Latvian company.

Who can buy property in Latvia

Citizens of the EU and most other countries buy flats and houses freely. Special rules apply to some categories of land, such as agricultural and border land, and such plots are checked before the deposit. Ownership is recorded in the land book, and only that entry makes the buyer the owner.

Restrictions for Russian and Belarusian citizens

A 2025 law barred citizens of Russia and Belarus from acquiring property in Latvia. The ban also covers companies in which such citizens hold 25% or more or are the ultimate owners. The exceptions are inheritance, a court ruling and a single home if Latvian permanent residence or EU long-term resident status was obtained before the ban took effect.

Property already bought stays with its owner, but a residence permit previously granted for it cannot be renewed for Russian and Belarusian citizens. If Russian or Belarusian citizenship is not your only one, we check before the deal which passport allows the purchase.

Flat prices in Riga

The gap between new and standard homes reaches three times: in 2026 prices in new projects are easing slightly while standard flats are rising. Central Riga and Jūrmala cost more; districts and rents are in the Riga guide.

Where to buy: Riga or Jūrmala

Riga is the business capital of the Baltics with the widest choice of flats: standard blocks in residential districts, pre-war buildings in the centre and new projects by the water. Flats in Riga are easier to let year-round, so they are more often bought to rent out. Jūrmala is a resort on the bay half an hour from the capital, with wooden villas and new buildings by the sea: the price per square metre is higher and rentals are more seasonal, but it is a home for yourself and your family.

Latvian banks lend mainly to residents with income in Latvia, so foreigners more often pay with their own funds, and the bank and notary check their source.

Purchase costs

Example: a flat in a new project for $140,000. The 1.5% state fee is about $2,100, plus the notary. Dollars are at the European Central Bank rate of 6 October 2026, $1.1269 per euro, rounded up.

Owner taxes: rent and sale

• Annual. Property tax is 0.2% to 3% of cadastral value, with the rate set by the municipality. Riga charges 0.2-0.6% on homes where at least one person has declared residence, and 1.5% without such a record.
• Rent. Income from letting a home without registering a business is taxed at 10%.
• Sale. Profit is taxed at 25.5%. There is no tax if the home was owned for more than 60 months and was the seller's declared residence for at least 12 consecutive months before the sale, or if it was their only property for that whole time.

Details are on the page taxes in Latvia.

Does buying property give Latvian residence

No. The new Immigration Law in force since 15 September 2026 removed property purchase from the grounds for a residence permit. Applications filed up to and including 14 September 2026 are decided under the old rules, and permits already issued remain valid until they expire. Investors still have the route of investing from 50,000 euros in the capital of a Latvian company plus 10,000 euros to the budget, but it is closed to Russian and Belarusian citizens. Details are on the page Latvia residence by investment.

Descendants of Latvian citizens and ethnic Latvians have a stronger route than any purchase: repatriation and citizenship by descent, with the right to live and work anywhere in the EU. Conditions are on the page Latvian citizenship by descent.

How the deal works

1. We check that the purchase is allowed for you: citizenship, company stakes, exceptions.
2. We check the property in the land book: owner, mortgages, restrictions and debts.
3. We sign the purchase contract and have the signatures notarised.
4. We pay the state fee and apply to record the title in the land book.

How to buy property in Latvia remotely

A representative with a power of attorney can sign the contract for the buyer. It is made before a notary in your country with an apostille and a Latvian translation. Through the representative the land book is checked, signatures are notarised and the title application is filed.

For the deal you prepare a passport and documents on the source of funds: Latvian banks and notaries check them. If buying through a company, its incorporation documents and beneficial owner details are needed. Buyers usually come in person only to open a bank account.

How to check a flat before buying

Latvia's land book is open and reliable: it shows the owner, mortgages, bans on sale and third-party rights. We also check who owns the land under the building. In some older buildings the building and the plot belong to different owners, and then flat owners pay the landowner rent for the plot, a monthly cost that is factored into the price.

We also check arrears with the building management company and on utility bills, the cadastral value on which tax is calculated, and the building's energy class: in old panel blocks winter heating bills are noticeably higher than in new projects.

What we do

We check that the purchase is allowed for your citizenship, choose a property for your goal, check it in the land book and for debts, handle the contract and notarisation, pay the state fee and register the title. If you need residence, we find a ground that is open to you. A manager will calculate the cost of support in the chat.

What we do

• Property shortlist for your investment goal
• Legal due diligence on the property
• End-to-end transaction support
• Ownership structuring (company, trust)
• Property management and letting

See also

Company formation · Business account · Personal account · Country taxes · All country programs

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