Property for Sale in Latvia

The property market in Latvia seems to be increasing in appeal almost daily as more properties become available for sale at such incredibly attractive prices.

Foreigners can freely buy, develop and dispose of movable property (buildings) in Latvia, provided that the property was acquired separately from the land on which it stands. Direct acquisition of land by foreigners is subject to permission of the local municipality.

It used to be the case that if an overseas property purchaser wished to own land or property other than an apartment in Latvia they had to incorporate a local company structure in order to do so. This is no longer the case, but for ease of property and tax management some investors still choose this path. A company can be established in 7 - 10 working days at a cost of around GBP 400 by any lawyer or estate agent - which takes away any stress from the investor. The process is so common that many investors just consider it an additional step and small fee in the whole property buying process in Latvia.

When it comes to the buying selling of property in Latvia, it is important to remember at the outset that there is very little dickering over price. In many other countries around the world, the listed sales price for a piece of real estate really is intended as a starting point for negotiations. In many instances, a seller intentionally hikes the listed sales price upward to allow for some bargaining space and room with a potential buyer of the real estate.

In Latvia, and in other Baltic countries, the listed sales price more often than not likely will be the ultimate selling price of the real estate. Simply, there just is not much bargaining or haggling over the price of real estate in Latvia and the other nations of the Baltic region.