LATVIAN PROPERTY MARKET

Latvian property market is considered to be a stable, reliable market with slow, yet consistent and predictable growth. Both international and domestic experts indicate vast residential real estate possibilities and accessible mortgage as the main selling points of the market. It is also worth mentioning that Latvia, being a part of the EU, is a gateway to Europe, which is further enhanced by the fact that it offers Temporary Residence Permits in exchange for real estate investments. Real estate experts from all around the world indicate the following advantages of the Latvian market: pro-landlord laws that promote investors' interests and create less restrictions for any kinds of investments or rents low effective rental income tax rates low government fees and general property transactions costs stable GDP growth round trip transactions costs (6.11%) - lower than in 30 other European countries (including non-EU countries of Europe)