Latvia, usually associated with neighbouring Estonia and Lithuania, is a Baltic country and joined the EU in 2004. Vibrante is the cultural and tourist centre of its wonderful capital, Riga, the economic hub of the entire nation, without forgetting the undisputed beauty of the imposing Gulf. Plains often boundless below sea level, give this land a unique feature. With a fairly temperate climate, it completes the general picture of the magnificence of this place. So, if you are interested in buying a property in Latvia, you should definitely follow our mini guide with advice on how to make a hell of an investment! Let's start with the documents you need to be able to access this country safely.
As a member of the European Union, citizens do not need to apply for a visa unless they wish to stay in the country for more than 90 days. In fact, if you wish to move to Latvia, an official residence document issued by the Latvian Immigration Department will be required. The procedure is not complicated at all, on the contrary. To avoid any inconvenience, we recommend that you contact the embassy of your country in Riga. Now to review the possibilities of finding a job, the first thing we recommend is to consult the EURES mobility portal where you can find all the necessary information and understand the general trend of the Latvian market. If you look at the cost of living in this state, you need to take a slight step back and take a look at some of the notions of history. Like all former Soviet countries, Latvia is young economically and financially. The market is growing fast and open to new developments, which is why the cost of living, affected by all this positive dynamism, is much lower than the European average. Here is a short list of basic necessities and their prices:
Fresh bread : 1,50 euro / kg
Fruit and vegetables : 0,80 euro / kg
Transport : 0,70 euro / ticket
Household maintenance costs: less than 200 euros per month
As far as the opening of a bank account is concerned, the procedure is simple and immediate. You simply need to go to a Latvian credit institution with a passport or any valid identity document with a lump sum to be paid into the account.
Let's now move on to the sector that interests us most: real estate. Whether you are an EU citizen or not, it's no problem! There will be no distinction at all. Here are the most popular areas where you can find really interesting prices: Riga, the capital (with higher prices), Daugavpils, Jelgava, Jurmala, Liepaja, Rezekne and Ventspils. The average cost of an apartment in the center is 1800 euros per square meter, while for rentals are around 250 / 300 euros per month.
What are you waiting for? Run now on our portal and find the property that suits your needs!
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