Latvia fully corresponds to the Russians' perceptions of the European country: well-groomed cities and agricultural lands, magnificent roads, a resort zone of the Gulf of Riga with beautiful sandy beaches, as well as lakes, reserves, ancient castles, magnificent infrastructure..At the same time, Latvia attracts its civilization with its unspoiltness: there is a low population density, legally approved careful attitude to nature and, as a consequence, magnificent landscapes with forests, rivers, lakes, where salmon, trout and crayfish are found..
All this is quite enough for Russian citizens, not going into the intricacies of international relations, to seek property in Latvia.
- Investing in Latvian real estate is an excellent investment for family holidays in the traditionally favored resorts of the Gulf of Riga.
- Territorial proximity: the flight from Moscow to Riga will take less than two hours, the train can be reached in a night. In this case, the majority of the population of the country speaks in Russian
- Latvian real estate is not one of the most affordable at the moment among similar proposals of European countries. Mortgage loans in Latvia available for Russians for up to 30 years
- Buying property in the amount of € 143,000, a citizen of another state and his whole family receive a residence permit.
- In addition, the availability of property in Latvia gives grounds for obtaining a multiple annual Schengen visa. What, in turn, allows owners to stay 180 days a year in any country in the Schengen area
- Legal transparency of real estate transactions: the stability of the legal basis for the sale and purchase of real estate in Latvia and registration of the purchase in the Land Register
- The attractiveness of buying real estate in Latvia is not only in low prices today, but also their rapid growth over time: the trend is already outlined and in the future such a purchase will justify more than once $
- The opportunity for foreigners to legally lease their own real estate in Latvia - $
What property can I buy?
The real estate in Latvia can get both private, and the legal person. Citizens of foreign countries have the right to purchase residential and commercial real estate both in the resort areas of Latvia and in quieter, "non-tourist" places. The exceptions are:
- agricultural and forest land;
- land of border territories;
- territory of nature reserves and other protected areas;
- land plots in the dune protection zone of the Baltic Sea and the Gulf of Riga, except for urban areas specified for construction,
- Land in the protective zones of public water bodies and watercourses, except for those designated for construction sites,
- land in the territories of mineral deposits of national importance.
Procedure for acquiring real estate in Latvia is
Despite the fact that Latvia is one of the former union republics, there are some nuances in making transactions with real estate, for which it is desirable to turn to professionals.
Selection of real estate can be made independently or rely on the services of a specialized agency, then it is highly desirable with the agency's manager to make a study tour and see their future property live .There, on the spot, it is recommended to conclude a preliminary contract of sale, which stipulates the terms of the transaction, the terms and method of payment and t .n .When signing a private contract, a reservation fee is paid (within € 3-5 thousand .) on the basis of which the real estate is withdrawn from sale and is reserved for the person who made the prepayment .
Then in Latvia, in the name of the buyer, an account is opened in the bank, after which he leaves home and begins the standard procedure for buying real estate. Collection and processing of documents through a specialized agency takes from 1 to 1, 5 months, after which the payment is made and the date of signing of the official purchase contract with a Latvian notary is fixed.
Based on the purchase and sale agreement signed by the buyer, the notary registers the transaction in the Property Register (Land Register) and in the cadastre. The buyer will only have to renew communal contracts in his name and fully participate in the ownership of housing in Latvia.
The cost of real estate in Latvia is
More than others in Latvia, buyers from different countries are attracted by real estate in Riga and Jurmala. In Riga, the renovated pre-war houses of the Middle Center and the embassy area, the territory of the Old Town, the historic center of the capital have a special value. Jurmala is the Baltic resort, the largest and beloved by many generations of Russians: clean sandy beaches, pleasant freshness of the Baltic, filled with aromas of pine forest, curative sea air, well-developed infrastructure.
In the Latvian capital, a square meter of housing costs about € 600. The cheapest one-bedroom. apartments cost € 27 - 36 thousand, 3-4-rooms. - € 43 - 50 thousand. The cost of elite apartments in new buildings with full finishing starts from € 3, 3 thousand per m². Cottages in the majority are bought for € 200-350 thousand. Average cost of habitation in Old Riga makes from € 1, 4 thousand up to € 2 thousand for m². At the same time, real estate outside Riga and other major Latvian cities can be purchased from € 72 thousand per object.
Additional costs when buying real estate in Latvia
Approximate amount of additional one-time payments for the purchase of real estate in Latvia is 2% of the value of the object plus from € 200 to € 500 that are fees, fees and payment for the preparation of documents. Of these, the state fee is 2% of the value of real estate, but not more than 30 thousand lats. Preparation of the contract by a lawyer will cost the buyer about € 100, and preparation and submission of the application to the Land Register - € 40-50. In addition, the Office Fees are charged when applying to the Land Register - € 20.
In addition, the buyer of real estate in Latvia should be aware of such expenses for the maintenance of property as an annual property tax. The amount of tax depends on the region and is ~ 0, 3-0, 5% of the cadastral value of the object. The latter is determined by the state and is approximately 50-80% of its market value.
Regarding real estate insurance, it is not mandatory in Latvia. However, when buying a property in a mortgage, it is mandatory to insure the mortgage loan amount itself. The annual insurance is ~ 0, 1-0, 15% of the sum insured.
As for utility payments, they, of course, depend on the actual consumption of resources, the total area of the property and the cost of maintaining the infrastructure of the complex. At the same time they are € 60-100 per month for an apartment and a little more for a house or cottage.
Apartment renting
In Latvia, real estate is very popular in Jurmala, especially in the summer, when houses and apartments are rented for a whole season, as well as in the capital of the country where you can rent an apartment and for a short time..For example, a five-room apartment in the historic center of Riga, in close proximity to the railway station can be rented for 120-180 EUR per day .Such apartments are characterized by modern renovation, many of them are equipped with a fireplace, also attracts a great location .A more economical option is to rent a room in the center of the city, the cost is 20-50 EUR per day .For the same money you can rent an apartment with a modest repair on the outskirts of .Elite apartments in the center of Riga will cost about 300 EUR per day .
Rent a two-room apartment with modern renovation and full technical equipment in the Jurmala resort of Majori in the immediate vicinity of the sea can be for 120 EUR per day. At the same time, the longer the lease period, the lower the price per day. For example, if you settle in this apartment for six days, you will pay 360 EUR, and for a month - only 1350 EUR.
A two-storey house with all the amenities on the Gulf of Riga coast is rented at a price of 600 EUR per day, but if you take it off for a week, the cost of one day of stay is reduced to 300 EUR, and for a month - up to 180 EUR per day. Elite apartments with sea views and the highest 24-hour service are rented at a price starting from 5700 EUR for two months or for 6500 for the whole season. In Jurmala, you can rent economy class apartments, for example, renting an apartment in the distance from the sea with five beds without frills can cost from 25 EUR per day.
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