Buying property in Latvia: guide for foreigners

Latvia, with its capital Riga and the seaside resort of Jurmala, has long been a destination for buyers from the EU and from abroad, and it has a large Russian-speaking population. Two recent changes matter more than anything else: a ban on property purchases by Russian and Belarusian citizens, and the end of the residence permit for buying property. This guide covers who can buy, the process, costs and taxes, rental and risks. It is informational, not legal or tax advice. Latvian rules have changed quickly, so confirm every point with a Latvian sworn notary or lawyer before you commit.

Market snapshot

Riga is the main market, Jurmala the premium seaside market, and smaller cities trade at much lower prices. We did not verify current per-square-metre prices for Riga or Jurmala to an official source, so we give none here; compare asking prices with real transaction prices from your agent and lawyer. The investor residence route is closed to new applicants, see Latvia ends its property and bank deposit residence routes, and the investor-driven part of demand may change as a result.

Who can buy

Citizens of the EU and EEA can buy apartments, houses and commercial property on the same terms as Latvians. Citizens of other countries can, according to the sources we opened, buy apartments and houses but face restrictions on agricultural and forest land; ask the notary about any plot.

Russian and Belarusian citizens: on 19 June 2025 the Saeima adopted a law banning the acquisition of real estate in Latvia by Russia and Belarus and their citizens, see the Saeima announcement. It also covers legal entities registered in Russia or Belarus, companies in which Russian or Belarusian citizens hold at least 25% of the capital or are beneficial owners, and legal arrangements established there. It applies to transactions concluded after the law entered into force, not only to sales: gifts, exchanges and other transfers are covered too. The law places responsibility on the seller to check the buyer, and a transaction in breach is void. Media reports list exceptions, such as inheritance by relatives, a court decision, people holding a permanent residence permit issued before the law, and people who later became EU long-term residents. We could not confirm the exact list or the date of entry into force from the official text, so a Russian or Belarusian citizen should not plan a purchase before a Latvian lawyer confirms the position in writing. See also buying with Russian citizenship: country restrictions.

Residence through property: closed to new applicants

Until recently a purchase of at least EUR 250,000 could be the basis for a temporary residence permit. The new Immigration Law, effective 15 September 2026, does not keep real estate as a basis for new first-time applications. Applications accepted for review before that date are handled under the old regime, and existing permit holders keep their permits, with a renewal route described in the transitional provisions. A new route through a state-established investment fund (minimum EUR 150,000) was reported, but one source says it is not yet operational. Check the current position on the website of the Office of Citizenship and Migration Affairs. Do not buy in Latvia expecting a residence permit in return.

Step by step

• Choose the property and ask for the Land Register extract (Zemesgrāmata), which shows the owner, mortgages and restrictions. Your lawyer should check it.
• Check the building: management company, debts for utilities and maintenance, planned renovation.
• Sign a preliminary agreement with a deposit; the amount is a market practice and not set by law.
• Hire an independent lawyer, see notary or lawyer: who do you need abroad. The sale contract is usually certified by a sworn notary, and ownership is entered in the Land Register; ownership arises on that entry. Confirm the required form with your notary.
• Pay the state duty and other fees, and make the payment by bank transfer from an account in your own name.
• Take over the keys and move utilities and building accounts to your name. If you cannot be present, see remote signing and closing.

Costs and taxes

Secondary sources report a state duty of 2% of the higher of the contract price and the cadastral value, notary fees of roughly 0.5% to 1.5% (one source says much less if the notary only certifies the contract) and agent fees of 3% to 5%, usually paid by the seller. Total buyer costs are reported at about 3.5% to 4% plus any buyer-paid agent fee. Ask the notary for a written estimate.

Annual property tax on residential property is reported at 0.2% to 0.6% of the cadastral value, set by municipalities within limits; check the rate for your building.

Income from rent and gains on sale: sources we found disagree on the rate (figures of 20% and 25.5% appear, and withholding for non-residents is mentioned), so we do not state a figure. Ask the Latvian State Revenue Service (VID) or an adviser which rate and procedure apply to you, and see double taxation treaties for foreign property. If you are a Latvian tax resident buying abroad, see foreign property tax return for Latvian residents.

Rental

Rental of apartments in Riga and Jurmala is possible, with the usual landlord duties and tax registration. Short-term and seasonal letting in Jurmala may need local permits; ask the municipality. Management from abroad is feasible, see property management for remote owners. We do not state yields: see rental yield by country and compare your own numbers.

For Russian-speaking buyers and expats

Riga has a large Russian-speaking community, so agents, lawyers and notaries who speak Russian are easy to find. We do not state language rules for official dealings or for residents: confirm in the notary's office which language the deed and the register use, and whether a sworn translator is needed. Choose a licensed professional, see how to choose a Russian-speaking agent abroad.

The most important rule: Russian and Belarusian citizens are covered by the ban above, and a seller may refuse to sell to you to avoid a void transaction. Citizens of other countries who speak Russian, including Ukrainians, Kazakh or Georgian citizens and holders of EU passports, are not covered by it, but banks and notaries will still ask about the source of funds, see bank checks for Russian citizens living in the EU. Never use nominees or intermediaries to get around the ban: it is unlawful and the transaction is void, see nominee ownership risks.

Risks

• A buyer's citizenship or beneficial ownership falling under the ban makes the deal void.
• Debts of the building or a previous owner.
• Valuation: the state duty can be based on the cadastral value if it is higher than the price.
• Mortgage: a non-resident LTV of 60% to 70% is reported by one aggregator, see mortgages for non-residents.
• Rules changed in 2025 and 2026; read the latest text, not old guides.

FAQ

Can a foreigner buy an apartment in Latvia? EU and EEA citizens can without restriction. Other nationalities can buy apartments, subject to the nationality rules above and a notary's checks.

Can Russian citizens buy property in Latvia? A law adopted on 19 June 2025 bans it, with reported exceptions that a Latvian lawyer must confirm for your case.

Does buying give me a residence permit? Not for new applications since 15 September 2026, when the property route ended.

What does it cost to buy? Reported: a 2% state duty, notary fees and agent fees; ask for a written estimate.

Can I rent the property out? Yes, with the usual tax registration; short-term letting may need a permit.

Can I buy through a company? A company registered in Russia or Belarus, or one with at least 25% held or beneficially owned by their citizens, is covered by the ban; other structures need a lawyer.

How we help

D.H. Realting is a trilingual platform (English, Russian, Polish) that finds properties and coordinates independent local lawyers and tax advisers. This text is informational and is not legal, tax or investment advice; rules change quickly, so verify the current position with a Latvian lawyer and tax adviser. See also all countries and the calculators.