Authored by the expert who managed and guided the team behind the Latvia Property Pack
Everything you need to know before buying real estate is included in our Latvia Property Pack
Latvia offers foreign buyers a surprisingly accessible real estate market, with prices well below Western European averages and a straightforward purchase process through sworn notaries and the Land Register.
In this guide, we break down exactly what you can buy in Latvia at every budget level, from $100k to $500k and beyond, with real neighborhood names, current prices, and honest cost breakdowns.
We constantly update this blog post with the latest housing price data for Latvia so you always have accurate, fresh information.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Latvia.
What can I realistically buy with $100k in Latvia right now?
Are there any decent properties for $100k in Latvia, or is it all scams?
Yes, $100,000 (around €85,000 at current exchange rates) can absolutely buy you a legitimate, livable apartment in Latvia, particularly in Riga's large housing estates where the average price sits at about €885 per square meter.
The best value neighborhoods in Latvia for a $100k budget include Bolderāja, Daugavgrīva, Ziepniekkalns, Imanta, Purvciems, and Pļavnieki, which are all established residential areas with good public transport and local amenities.
However, buying in Latvia's truly upscale areas like central Riga or beachfront Jūrmala for $100k is not realistic, as premium segment pricing runs around €2,400 per square meter, meaning your budget would only get you a very small studio or a property needing major renovation.
What property types can I afford for $100k in Latvia (studio, land, old house)?
For $100,000 (€85,000) in Latvia, your realistic options include a move-in-ready 2-room apartment of 45 to 60 square meters, or a larger 3-room apartment of 60 to 75 square meters that needs updating, both in Riga's standard housing estates.
At this price point in Latvia, you should expect Soviet-era or 1990s construction that may need cosmetic work costing €150 to €250 per square meter, or full renovation at €400 to €700 per square meter if the apartment has not been updated.
For long-term value in Latvia, apartments tend to be the safest choice at the $100k level because they avoid the legal complexities that come with land purchases, which can face restrictions in border zones, coastal areas, and protected territories for foreign buyers.
What's a realistic budget to get a comfortable property in Latvia as of 2026?
As of early 2026, the realistic minimum budget to get a comfortable, move-in-ready property in a decent area of Latvia is around $150,000 (€128,000), which opens up renovated apartments in better Riga neighborhoods.
Most buyers looking for a comfortable standard in Latvia should plan for a budget range of $150,000 to $250,000 (€128,000 to €213,000), which covers good-condition apartments in desirable areas without major compromises.
In Latvia, "comfortable" typically means a renovated 1 to 2 bedroom apartment of 50 to 80 square meters with updated kitchen and bathroom, reliable heating, and good natural light in a neighborhood with shops and public transport nearby.
This required budget can vary significantly depending on the neighborhood in Latvia, with central Riga or premium areas like Teika requiring budgets closer to $250,000, while outer districts like Purvciems or Imanta offer comfort at lower price points.
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What can I get with a $200k budget in Latvia as of 2026?
What "normal" homes become available at $200k in Latvia as of 2026?
As of early 2026, a $200,000 budget (around €170,000) in Latvia gets you into the "comfortable choice" territory where you can prioritize quality and location rather than just finding something that fits your budget.
At this price point in Latvia, you can typically expect a renovated 2-bedroom apartment of 60 to 80 square meters in a good Riga neighborhood, or a very solid 1-bedroom closer to the city center with modern finishes.
By the way, we have much more granular data about housing prices in our property pack about Latvia.
What places are the smartest $200k buys in Latvia as of 2026?
As of early 2026, the smartest neighborhoods for a $200,000 purchase in Latvia include Teika, Āgenskalns, the edges of Centrs, Skanste-adjacent areas, and well-located parts of Purvciems and Imanta.
These areas represent smarter buys in Latvia because they combine good transport links, established amenities, and steady rental demand without the premium pricing of central Riga or Jūrmala beachfront locations.
The main growth factor driving value in these Latvia neighborhoods is urban development momentum, particularly in Skanste and Āgenskalns where new infrastructure projects and younger demographics are pushing demand higher.
We have made this infographic to give you a quick and clear snapshot of the property market in Latvia. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
What can I buy with $300k in Latvia in 2026?
What quality upgrade do I get at $300k in Latvia in 2026?
As of early 2026, moving from $200,000 to $300,000 (€255,000) in Latvia typically unlocks newer buildings with elevators, better insulation, improved micro-locations with walkability to parks and schools, and more thoughtful apartment layouts.
Yes, $300,000 can definitely buy a property in a newer building in Latvia, particularly in Riga where this budget reaches the premium segment threshold of transactions over €150,000.
At this budget level in Latvia, you start seeing features like dedicated parking, modern kitchens with quality appliances, separate living and bedroom spaces, storage rooms, and buildings with proper common area maintenance.
Can $300k buy a 2-bedroom in [VARIABLE PLACE] in 2026 in good areas?
As of early 2026, finding a 2-bedroom property for $300,000 in good areas of Latvia is absolutely realistic and represents the sweet spot where quality, location, and space all come together.
In Latvia, specific good areas where $300,000 buys a solid 2-bedroom include central parts of Teika, nicer sections of Āgenskalns, walkable Centrs neighborhoods, and newer developments in Skanste.
A $300,000 2-bedroom in Latvia typically offers 60 to 90 square meters of living space, with premium-quality apartments on the smaller end and renovated older buildings providing more generous floor plans.
Which places become "accessible" at $300k in Latvia as of 2026?
At the $300,000 price point in Latvia, buyers gain meaningful access to more central and walkable parts of Centrs in Riga, stronger sections of Teika, nicer Āgenskalns streets, and credible apartment options in Jūrmala towns like Majori, Dzintari, and Bulduri.
These newly accessible areas in Latvia are desirable because they offer lifestyle upgrades that lower budgets cannot reach, including walking distance to Riga's Old Town, proximity to Jūrmala's beaches, and access to neighborhoods with established international communities.
In these newly accessible Latvia areas, $300,000 typically buys a quality 2-bedroom apartment in good condition, often in a building from the 2000s or later, with modern amenities and reliable building management.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Latvia.
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What does a $500k budget unlock in Latvia in 2026?
What's the typical size and location for $500k in Latvia in 2026?
As of early 2026, a $500,000 budget (around €426,000) in Latvia typically buys a premium property of 100 to 175 square meters in Riga's best neighborhoods or a spacious apartment in prime Jūrmala beach locations.
Yes, $500,000 can buy a family home with outdoor space in Latvia, particularly in Pierīga (greater Riga area) where houses with gardens become realistic, though central Riga options with outdoor space are rarer and depend heavily on the specific district.
At this price point in Latvia, you can expect a high-quality 2 to 3 bedroom property with 2 bathrooms, or alternatively a large, renovated pre-war apartment with character features in a historic Riga building.
Finally, please note that we cover all the housing price data in Latvia here.
Which "premium" neighborhoods open up at $500k in Latvia in 2026?
At $500,000 in Latvia, buyers gain access to premium neighborhoods including Mežaparks (Riga's prestigious green district), Ķīpsala (island living near the center), strong pockets of Centrs, and in Jūrmala the classic premium zones of Bulduri, Dzintari, and Majori.
These neighborhoods are considered premium in Latvia because Mežaparks offers villa-style living with pine forests and a famous open-air theater, Ķīpsala provides unique island character minutes from Old Town, and Jūrmala's beach towns combine Baltic Sea access with historic wooden architecture.
For $500,000 in these premium Latvia neighborhoods, buyers can realistically expect a renovated 2 to 3 bedroom apartment of 80 to 120 square meters with quality finishes, or entry-level access to detached properties in Pierīga and some Jūrmala streets.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Latvia versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What counts as "luxury" in Latvia in 2026?
At what amount does "luxury" start in Latvia right now?
In Latvia, the luxury real estate segment realistically begins at around €500,000 ($590,000), which is the price point where properties start offering genuine scarcity, top locations, premium building quality, and high-end finishes all together.
Entry-level luxury in Latvia is defined by features like exclusive Mežaparks or Ķīpsala addresses, direct Jūrmala beach proximity, architectural significance such as renovated Art Nouveau buildings, private outdoor space, and concierge-level building services.
Compared to Western European capitals, Latvia's luxury threshold is significantly lower, with €500,000 buying genuine luxury in Riga while the same budget would be entry-level in cities like Munich, Paris, or Stockholm.
Mid-tier luxury in Latvia typically ranges from €500,000 to €1,000,000 ($590,000 to $1,180,000), while top-tier luxury properties in prime Jūrmala beachfront or the best Riga addresses can exceed €1,500,000 ($1,770,000).
Which areas are truly high-end in Latvia right now?
The truly high-end areas in Latvia right now are Mežaparks and Ķīpsala in Riga, the Quiet Centre (Klusais Centrs) area near the embassy district, and in Jūrmala the most beach-adjacent streets of Bulduri, Dzintari, and Majori.
These areas are considered truly high-end in Latvia because Mežaparks offers large plots with historic villas in a forested setting, Ķīpsala provides exclusive island living with Old Town views, and Jūrmala's prime streets combine private beach access with protected wooden architecture heritage.
The typical buyer profile for these high-end Latvia areas includes successful Latvian entrepreneurs, Baltic business families, Scandinavian executives with regional ties, and increasingly, remote-working professionals from Western Europe seeking quality of life at lower price points than their home countries.
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How much does it really cost to buy, beyond the price, in Latvia in 2026?
What are the total closing costs in Latvia in 2026 as a percentage?
As of early 2026, total closing costs for buying property in Latvia typically run between 2.5% and 4.5% of the purchase price for straightforward transactions.
The realistic low-to-high range that covers most standard Latvia property transactions is 2.5% to 7%, with the higher end applying when you need complex powers of attorney, document translations, extra notary work, or comprehensive legal review.
The main fee categories making up these closing costs in Latvia are the Land Register state fee (the largest chunk), notary fees (both state fee and remuneration), and optional but recommended legal review and due diligence costs.
To avoid hidden costs and bad surprises, you can check our our pack covering the property buying process in Latvia.
How much are notary, registration, and legal fees in Latvia in 2026?
As of early 2026, notary, registration, and legal fees in Latvia typically total between €1,500 and €5,000 ($1,750 to $5,900) for a standard residential purchase, depending on property value and complexity.
These fees represent roughly 1.5% to 3% of the property price in Latvia, with the Land Register state fee alone commonly running around 1.5% for individual buyers.
In Latvia, the Land Register state fee is usually the most expensive of these three categories, followed by notary remuneration (which varies by document complexity and pages), while optional legal review fees depend on the scope of due diligence you choose.
What annual property taxes should I expect in Latvia in 2026?
As of early 2026, annual property tax (nekustamā īpašuma nodoklis) for a typical residential property in Latvia runs between €200 and €1,500 ($235 to $1,770) per year, depending on the cadastral value and your residency status.
Property taxes in Latvia represent approximately 0.2% to 0.6% of the cadastral value per year for residential properties, which is notably lower than many Western European countries.
In Latvia, property taxes vary based on whether you declare the property as your residence (lower rate of 0.2% to 0.3%) or own it as a second home or investment (potentially higher rate up to 0.6%), with Riga municipality offering specific reduced rates for declared residents.
Yes, there are exemptions and reductions available in Latvia, particularly for properties where the owner declares their residence, as well as potential reductions for certain categories like large families or pensioners depending on municipal rules.
You can find the list of all property taxes, costs and fees when buying in Latvia here.
Is mortgage a viable option for foreigners in Latvia right now?
Obtaining a mortgage as a foreigner in Latvia is viable but not automatic, with Latvian banks willing to lend to non-residents who can demonstrate stable income, clear documentation, and often a connection to the Baltic region.
Foreign buyers in Latvia can typically expect loan-to-value ratios of 50% to 70% (lower than for residents) and interest rates around 4% to 5.5% based on Euribor plus bank margin, according to recent Bank of Latvia statistics.
To qualify for a mortgage in Latvia, foreign buyers typically need proof of income (employment contracts or business accounts), a valid passport, proof of funds for the down payment, and often additional documentation like tax returns, with the process generally being more scrutinized than for Latvian residents.
If you're interested, we have much more information in our property pack about Latvia.
We made this infographic to show you how property prices in Latvia compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What should I predict for resale and growth in Latvia in 2026?
What property types resell fastest in Latvia in 2026?
As of early 2026, the property types that resell fastest in Latvia are move-in-ready 1 to 2 bedroom apartments in Riga with good public transport access, as these attract the broadest pool of buyers including young professionals, small families, and investors.
The typical time to sell a well-priced property in Latvia is currently around 2 months, down from about 78 days previously according to the Latio home buyers index, though overpriced or complicated properties can take 6 months or longer.
In Latvia specifically, properties sell faster when they are located near Riga's tram lines or within walking distance of the city center, have already been renovated to move-in condition, and sit in the €80,000 to €200,000 range where financing is most accessible.
Properties that tend to be slowest to resell in Latvia include houses with complex land ownership situations, apartments in remote housing estates like the furthest parts of Bolderāja or Daugavgrīva, and Soviet-era panel buildings without recent renovation or elevator access.
If you're interested, we cover all the best exit strategies in our real estate pack about Latvia.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Latvia, we always rely on the strongest methodology we can ... and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| ECB Exchange Rates | Official reference rates from the European Central Bank. | We used ECB rates to convert USD budgets to EUR for accurate Latvia price comparisons. This ensures all currency conversions are neutral and verifiable. |
| Central Statistical Bureau of Latvia | Latvia's official national statistics agency. | We used CSB data to confirm housing price trends and market direction. This anchors our analysis in official, government-verified statistics. |
| ARCO Real Estate | Long-established Baltic real estate firm with published market metrics. | We used ARCO's November 2025 data for the €885 per square meter Riga benchmark. Their neighborhood breakdowns informed our value-area recommendations. |
| Latvia Sotheby's International Realty | Major premium brokerage citing Land Register-based analysis. | We used their premium segment data showing €2,400 per square meter in Riga. This defined where "premium" and "luxury" realistically begin in Latvia. |
| Latio Home Buyers Index | Large Latvian real estate firm tracking market liquidity. | We used their time-to-sell data showing 2-month average for well-priced properties. This grounds our resale timeline estimates in current market reality. |
| Riga City Municipality | Official municipal government source for local tax rules. | We used their 2026 property tax guidance to explain the 0.2% to 0.6% rates. This ensures our annual cost estimates reflect actual Riga regulations. |
| Likumi.lv (Land Register Fees) | Latvia's official legal text portal. | We used the formal regulations to calculate Land Register state fees. This ensures our closing cost percentages come from law, not estimates. |
| Ministry of Justice (Latvia) | Government ministry announcement on fee changes. | We confirmed the current reduced 1.5% rate for individuals from this official source. This prevents us from quoting outdated 2% fee rules. |
| Bank of Latvia | Central bank compiling official financial statistics. | We referenced their interest rate data for mortgage rate estimates. This provides authoritative context on financing viability for foreign buyers. |
| U.S. State Department | Official government report on investment environment. | We used their overview of land purchase restrictions for foreigners. This informs our guidance on apartments versus houses with land. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Latvia. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.