Plavnieki, Riga, Deglava 166
95 754 EUR (1 256.61 EUR/m²)
76.20 m², 3 rooms, 9/10 floors
Maskavas forstate, Riga, Puškina
750 000 EUR (517.24 EUR/m²)
1 450 m², 30 rooms, 6 floors
Centrs, Riga, Alberta 9
130 000 EUR (1 000 EUR/m²)
130 m², 3 rooms, 1/7 floor
Jurmala, Riga region, Kāleju iela 25
420 000 EUR (1 596.96 EUR/m²)
263 m², 5 rooms, 2 floors
Centrs, Riga, Ausekļa 4
430 000 EUR (3 440 EUR/m²)
125 m², 4 rooms, 4/6 floors
Centrs, Riga, Rūpniecības 11
415 000 EUR (4 318.42 EUR/m²)
96.10 m², 3 rooms, 4/6 floors
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The annual real estate industry event will take place in Riga at the end of October, which this year announces itself under a new brand as Baltic Real Estate Leaders Forum. This is the most important meeting place of the year, attended by the leading industry companies, investors and experts of the Baltic countries to discuss topical market trends and to forecast its future development.
Housing Affordability Index in Riga has improved in the first quarter of this year, but the improvement pace has slowed down, said Swedbank, citing the latest Housing Affordability Index (HAI) data. In the first quarter of 2017, HAI in Riga was 171.2, which means that household income was by 71.2 percent higher than needed for a housing loan that costs no more than 30 percent of the family's net income. The HAI is calculated for a family whose income is equal to 1.5 of average net wages with an average-sized apartment of 55 square meters. In a year HAI has improved by five points.
Practically the best option is investment in Latvian real estates. In the case of investment in real estate the provisions differ and foreigner only has to pay real estate tax. In addition, it is not mandatory actually to live in Latvia, so the property might be leased and hence the return of investment is possible. Foreigners usually choose to receive a residence permit by purchasing a real estate (apartment) in Latvia. Frequently the apartment is bought as a joint purchase, especially in cases of family with over 18 year-old children. Latvian Migration Law provides that spouse and juvenile children (children under 18 years) are entitled to residence permit along with the main investor and they do not have to make any additional investment.
The Latvian Finance Ministry will propose to introduce exemptions or discounts on real estate tax based on certain area per household member in the total floorspace of a residential property, Finance Minister Dana Reizniece-Ozola (Greens/Farmers). She said the Finance Ministry had prepared proposals for the real estate tax reform which would be presented to the government soon. At present the ministry is finalizing the report to give the ministers more detailed information about the proposed reforms. Writing proposals for the real estate tax reform was a tough job, considering that cadastral values of properties in Latvia varied greatly depending on the location, Reizniece-Ozola said, adding that in some cases the difference in value was as huge as 5,000 times.
How many foreign investors have received the Latvian residency permits (RPs) for their investments over the five years of the programme operation and what developments can be observed after the 1st of September 2014? How can the holders of the Latvian RPs in the future obtain the Latvian citizenship?
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