In the past, Western Investors used to take advantage in buying Latvia Real Estate as the country was not very stable. However, the good news is that the process of buying real estate in Latvia has now become extremely simple and straightforward. It presents a wonderful world of opportunities to both international real estate investors as well as domestic consumers who wish to buy different kinds of properties in the country, whether a home in the country side, or a seaside vacation apartment.
The prices of Latvia real estate have been witnessing a steady rise since the past 20 years. From the year 1998, the real estate prices in Latvia have multiplied to as much as 300 percent. The cost of land has risen by 150 to 200 percent, whereas that of commercial property has gone up by 80 to 120 percent. One of the greatest things about investing in Latvia real estate is that the country provides the international real estate investors the opportunity to rent or buy real estate in Latvia without any limitations.
Buying a real estate in Latvia takes about 1 or 2 months to complete the entire process of the deal, from inception of the deal to securing the property rights of the buyer. Besides the property cost, the buyer has to incur some legal costs such as cost of value estimation, notary expenses and state duty.
There are a number of advantages of purchasing real estate in Latvia. The most important advantage is the opportunity to earn money on the purchase, considering the steady growth of the real estate market. Besides this, there are also no limitations in the purchase of real estate in Latvia that enable quick and easy transactions. Getting a visa approval is also generally not a problem. Therefore, buying Latvia real estate can be quite a lucrative as well as a simple venture.
When it comes to Latvia rentals, the gross rental yields earned on rural properties are not too great, and range between 3.7 percent and 4.48 percent. Thus, not many investors are enthusiastic about investing at these levels. On the other hand, rental yields on suburban apartments are much better, ranging around 5.48 percent while 4.05 percent for city centre apartments.
So it is evident that investing in Latvia real estate for sale can be quite lucrative for Latvia rentals. The international real estate investors if they are planning to move there or buy a vacation property to spend some quality time with their loved ones.