Authored by the expert who managed and guided the team behind the Latvia Property Pack
Yes, the analysis of Riga's property market is included in our pack
Buying property in Riga as a foreigner comes with specific costs, taxes, and fees that can catch you off guard if you don't plan ahead.
Latvia uses the euro as its currency, and most buyer expenses in Riga revolve around the Land Register state fee, notary costs, and a handful of administrative charges that add up quickly.
We constantly update this blog post to reflect the latest official regulations and market conditions in Riga.
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 Riga.
Overall, how much extra should I budget on top of the purchase price in Riga in 2026?
How much are total buyer closing costs in Riga in 2026?
As of early 2026, total buyer closing costs in Riga typically range from 2% to 5% of the purchase price, which means a property priced at €100,000 would add roughly €2,000 to €5,000 (or $2,350 to $5,850 USD) in extra expenses.
If you keep expenses to the bare legal minimum in Riga, you can expect to pay around 2% to 2.8% of the purchase price, or approximately €2,000 to €2,800 ($2,350 to $3,280 USD) on a €100,000 property, covering just the Land Register state fee and basic notary costs.
At the high end, buyers in Riga should realistically plan for up to 5% to 9% of the purchase price when accounting for optional but common expenses like escrow services, mortgage registration, independent legal review, and translation services, meaning you could pay €5,000 to €9,000 ($5,850 to $10,530 USD) on a €100,000 property.
The main factors that determine whether your closing costs fall at the low end or high end in Riga include whether you finance the purchase with a mortgage, whether you hire independent legal counsel, whether you need translation services for documents, and whether you use escrow or bank services for the transaction.
What's the usual total % of fees and taxes over the purchase price in Riga?
The usual total percentage of fees and taxes over the purchase price for a foreign individual buying residential property in Riga is around 3% to 4%, with the Land Register state fee at 1.5% forming the biggest chunk.
The realistic low-to-high percentage range that covers most standard property transactions in Riga spans from 2% for a bare-bones cash purchase to about 5% when you include notary fees, legal checks, and common administrative costs.
Of that total percentage in Riga, approximately 1.5% to 2% typically goes to government fees (primarily the Land Register state fee), while the remaining 0.5% to 2% covers professional service fees like notary, legal review, and translation services.
By the way, you will find much more detailed data in our property pack covering the real estate market in Riga.
What costs are always mandatory when buying in Riga in 2026?
As of early 2026, the mandatory costs when buying property in Riga include the Land Register state fee (1.5% for individuals), Land Register office fees for registration and certificates (typically tens of euros), and notary costs for executing the purchase contract and corroboration request.
Optional but highly recommended costs for buyers in Riga include independent lawyer review for title and encumbrance checks, translation services if you don't speak Latvian, and a technical inspection for older buildings in neighborhoods like Centrs or Vecrīga (Old Town).
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What taxes do I pay when buying a property in Riga in 2026?
What is the property transfer tax rate in Riga in 2026?
As of early 2026, the main buyer tax in Riga is the Land Register state fee, which is 1.5% of the property value for individual buyers, calculated from the higher of the purchase price or the cadastral value.
There are no extra transfer taxes specifically targeting foreigners buying property in Riga, as the Land Register state fee is based on transaction type and buyer status (individual vs. company), not nationality.
Most resale residential properties in Riga are not subject to VAT, but new-build purchases from developers may include 21% VAT depending on how the sale is structured, so you should always confirm VAT treatment in writing for new constructions.
Stamp duty in Riga, which is essentially the Land Register state fee, is paid at the time of notarial steps and Land Register filing, and it is calculated as 1.5% of the property value for individuals or 2% for companies.
Are there tax exemptions or reduced rates for first-time buyers in Riga?
Latvia does not have a specific first-time buyer tax exemption or stamp duty holiday like some other European countries, so the 1.5% Land Register state fee applies equally to first-time and repeat buyers in Riga.
If you buy property in Riga through a company instead of as an individual, the Land Register state fee increases from 1.5% to 2%, making company purchases more expensive at the closing stage.
The main tax difference between new-build and resale properties in Riga is VAT: new constructions from developers may be subject to 21% VAT, while resale properties are typically VAT-exempt.
Since there are no first-time buyer exemptions in Riga, the relevant cost reductions come from e-filing (which can reduce office fees to 90% of the standard rate) or structuring your purchase to minimize the value basis for the state fee calculation.
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.
Which professional fees will I pay as a buyer in Riga in 2026?
How much does a notary or conveyancing lawyer cost in Riga in 2026?
As of early 2026, notary fees in Riga for a standard property purchase typically range from €70 to €250 (approximately $80 to $290 USD) for executing the contract and preparing the corroboration request, though more complex transactions can cost more.
Notary fees in Riga are typically charged as a combination of fixed amounts and percentage-based tariffs set by official regulations, with the percentage portion often landing around 0.3% to 0.8% of the transaction value for larger purchases.
Translation or interpreter services for foreign buyers in Riga typically cost €15 to €35 per page for document translation and €30 to €70 per hour for interpreter services, depending on language pair and urgency.
A tax advisor in Riga is optional for straightforward purchases but recommended if you plan to rent out the property or use a company structure, with a one-time consultation typically costing €150 to €500 ($175 to $585 USD).
We have a whole part dedicated to these topics in our our real estate pack about Riga.
What's the typical real estate agent fee in Riga in 2026?
As of early 2026, real estate agent fees in Riga typically range from 2% to 5% of the purchase price plus 21% VAT, though the exact amount depends on the services provided and is often negotiable.
In Riga, the seller usually pays the agent commission, but buyers may still face agent-related costs if they hire a dedicated buyer's agent, a property search service, or a turnkey intermediary for foreign purchasers.
The realistic low-to-high range for agent fees in Riga spans from 1% for minimal services up to 5% plus VAT for comprehensive support, with most transactions settling around 2% to 3%.
How much do legal checks cost (title, liens, permits) in Riga?
Legal checks in Riga, including title search, liens verification, and permits review, typically cost between €300 and €1,200 ($350 to $1,400 USD) for a standard apartment, with more complex cases costing up to €2,500.
Property valuation fees in Riga, which are usually required if you take out a mortgage, typically range from €150 to €400 ($175 to $470 USD) for a standard apartment and can be higher for unusual properties.
The most critical legal check you should never skip in Riga is the Land Register search to verify ownership, encumbrances, and any liens or mortgages attached to the property, which you can access through the official Zemesgramata system.
Buying a property with hidden issues is something we mention in our list of risks and pitfalls people face when buying real estate in Riga.
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What hidden or surprise costs should I watch for in Riga right now?
What are the most common unexpected fees buyers discover in Riga?
The most common unexpected fees buyers discover in Riga include the cadastral value vs. purchase price mismatch (which can increase your Land Register state fee), building-level renovation contributions in older buildings in Centrs or Vecrīga, and extra translation or document legalization costs for foreign paperwork.
Yes, buyers in Riga can potentially inherit unpaid property taxes or building-related debts attached to the property, which is why a thorough Land Register and municipal records check is essential before closing.
Buyers in Riga can avoid scams with fake listings or fake fees by insisting on verified seller identity, checking Land Register ownership records, and using secure payment mechanisms like bank escrow accounts rather than direct cash transfers.
Fees that are usually not disclosed upfront in Riga include escrow or bank handling costs, translation and certified copy fees, extra due diligence charges when issues arise, and one-off building fund contributions discovered late in the process.
In our property pack covering the property buying process in Riga, we go into details so you can avoid these pitfalls.
Are there extra fees if the property has a tenant in Riga?
Extra fees when buying a tenanted property in Riga typically include €200 to €800 ($235 to $935 USD) for additional legal review of the existing lease agreement, tenant notification requirements, and any handover timing costs.
When you purchase a tenanted property in Riga, you inherit the existing lease agreement and must honor its terms, including rent amounts and termination conditions, until the lease expires or is legally terminated.
Terminating an existing lease immediately after purchase in Riga is generally not possible unless the lease contract contains specific early termination clauses, as Latvian law protects sitting tenants' rights.
A sitting tenant in Riga typically affects the property's market value by lowering it slightly compared to vacant properties, but it can also strengthen your negotiating position if you're an investor looking for immediate rental income.
If you want to optimize your rental strategy, you can read our complete guide on how to buy and rent out in Riga.
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.
Which fees are negotiable, and who really pays what in Riga?
Which closing costs are negotiable in Riga right now?
Negotiable closing costs in Riga include real estate agent commissions, lawyer fees (fixed-fee vs. hourly arrangements), escrow or bank service package pricing, and the scope of additional due diligence services.
Closing costs that are fixed by law and cannot be negotiated in Riga include the Land Register state fee (1.5% for individuals), the core Land Register office fees, and the base notary tariff set by official regulations.
On negotiable fees in Riga, buyers can typically achieve discounts of 10% to 30% by comparing service providers, bundling services with one firm, or negotiating directly with agents and lawyers before signing agreements.
Can I ask the seller to cover some closing costs in Riga?
Sellers in Riga rarely agree to cover buyer closing costs like the Land Register state fee or notary expenses, as these are traditionally considered the buyer's responsibility for registering their ownership.
The specific closing costs sellers are most commonly willing to cover in Riga include their own agent commission, costs to cure title or permit issues, and occasionally a price reduction that effectively compensates for buyer closing costs.
Sellers in Riga are more likely to accept covering closing costs during buyer's market conditions, when the property has been on the market for a long time, or when there are obvious issues that reduce the property's appeal.
Is price bargaining common in Riga in 2026?
As of early 2026, price bargaining is common and expected in Riga, with most sellers anticipating some negotiation before agreeing on a final purchase price.
Buyers in Riga typically negotiate 3% to 8% below the asking price, which translates to €3,000 to €8,000 ($3,500 to $9,350 USD) on a €100,000 property, with larger discounts possible when there are property condition issues or the listing has been on the market for a long time.
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What monthly, quarterly or annual costs will I pay as an owner in Riga?
What's the realistic monthly owner budget in Riga right now?
A realistic monthly owner budget for a 70 to 100 square meter apartment in Riga ranges from €150 to €350 ($175 to $410 USD), covering utilities, building maintenance, and management fees.
The main recurring expense categories that make up this monthly budget in Riga include heating (the largest variable cost), building management and maintenance fees, water and sewerage, electricity, and contributions to the building repair fund.
The realistic low-to-high range for monthly owner costs in Riga spans from about €100 ($115 USD) for a small, well-insulated apartment in newer buildings in Skanste or Teika to €400 or more ($470 USD) for larger units in older buildings in Centrs or Vecrīga that require more maintenance.
Heating costs tend to vary the most in Riga because they depend on building age, insulation quality, the severity of the winter, and whether the building has been renovated under EU energy efficiency programs.
You can see how this budget affect your gross and rental yields in Riga here.
What is the annual property tax amount in Riga in 2026?
As of early 2026, annual property tax for a residential property in Riga typically ranges from €200 to €800 ($235 to $935 USD) depending on the cadastral value, though higher-value properties will pay more.
The realistic low-to-high range for annual property taxes in Riga spans from under €100 ($115 USD) for small apartments with low cadastral values to over €1,000 ($1,170 USD) for larger or more valuable properties.
Property tax in Riga is calculated based on the cadastral value of the property (not market value), with residential properties taxed at progressive rates between 0.2% and 0.6% for properties where an EU/EEA citizen or Latvian permanent resident is registered as living.
Exemptions and reductions available in Riga include municipal tax reliefs for families with children (which can reduce the tax by 50% to 90% depending on the number of children) and other local relief programs for specific categories of owners.
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.
If I rent it out, what extra taxes and fees apply in Riga in 2026?
What tax rate applies to rental income in Riga in 2026?
As of early 2026, rental income in Riga can be taxed at a flat 10% rate if you choose the simplified regime (with no expense deductions), or at progressive rates of 20% to 31% if you register as self-employed and deduct expenses.
Under the progressive tax regime in Riga, landlords can deduct expenses like property taxes, depreciation, maintenance, and repairs from their rental income, but this option is not available if you choose the simplified 10% flat rate.
The realistic effective tax rate range after deductions for typical landlords in Riga varies from 10% under the simplified regime to potentially lower effective rates under the progressive system if your deductible expenses are significant.
Foreign property owners in Riga who are non-residents are generally taxed at the same rates as residents on rental income, with the choice between the 10% flat rate or progressive rates applying equally to both groups.
Do I pay tax on short-term rentals in Riga in 2026?
As of early 2026, short-term rental income in Riga is taxable and subject to the same tax regime choices as long-term rentals, meaning you can opt for the 10% flat rate or progressive taxation with expense deductions.
Short-term rental income in Riga is not taxed differently than long-term rental income in terms of rates, but short-term rentals may trigger additional compliance obligations like tourism registration or municipal permits depending on the scale and location of your operation.
If you want to optimize your rental strategy, you can read our complete guide on how to buy and rent out in Riga.
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If I sell later, what taxes and fees will I pay in Riga in 2026?
What's the total cost of selling as a % of price in Riga in 2026?
As of early 2026, the total cost of selling a property in Riga typically ranges from 3% to 7% of the sale price, depending on whether you use an agent and whether capital gains tax applies to your situation.
The realistic low-to-high percentage range for total selling costs in Riga spans from about 2% if you sell without an agent and qualify for capital gains exemptions, up to 10% or more if you owe capital gains tax on a significant profit.
The specific cost categories that make up selling expenses in Riga include agent commission (typically 2% to 5% plus VAT), legal and administrative fees, capital gains tax if applicable, and any early mortgage repayment penalties.
The single largest contributor to selling expenses in Riga is usually the agent commission if you use one, or capital gains tax if you have a large taxable profit and don't qualify for exemptions.
What capital gains tax applies when selling in Riga in 2026?
As of early 2026, capital gains from selling property in Riga are taxed at 25.5% of the profit (sale price minus purchase price and related expenses), though a transitional 20% rate may still apply to transactions initiated before the end of 2024.
Exemptions to capital gains tax in Riga include sales of property that has been your primary residence for at least 12 months before the sale, and sales of property held for at least 60 months if the proceeds are reinvested in another Latvian property within 12 months.
Foreign sellers in Riga face a 3% withholding on the gross sale price at the time of sale, but they can opt to file a tax return and pay tax only on the actual gain, which may result in a lower final tax bill or even a refund.
Capital gain in Riga is calculated as the sale price minus the original purchase price, minus acquisition costs like notary fees and Land Register fees, and minus documented improvement expenses.
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 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 Riga, 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 |
|---|---|---|
| Cabinet Regulation No. 1250 (Likumi.lv) | Latvia's official legal text for the Land Register state fee. | We used it to confirm the 1.5% Land Register state fee for individuals and the 2% rate for companies. We also used it to explain how the fee is calculated from the higher of contract price vs. cadastral value. |
| Land Register Law Amendments (Likumi.lv) | Official law text setting fixed office fees and e-filing discounts. | We used it to estimate the fixed Land Register office fees and note the electronic filing discount. We separated percentage fees from fixed admin fees for clearer budgeting. |
| Notary Remuneration Tariff (Likumi.lv) | Official tariff for Latvian sworn notary charges. | We used it to model notary costs as a percentage of transaction value with minimums. We built realistic low/typical/high notary scenarios for Riga buyers. |
| State Revenue Service (VID) | Latvia's official tax authority for individual tax rates. | We used it to confirm capital gains and rental income tax rates. We avoided relying on blog summaries and went straight to the source. |
| VID Rental Income Guide (PDF) | Official VID guide explaining rental income tax regimes. | We used it to explain how rental income can be taxed under different regimes. We made the "rent it out" section practical for foreign owners. |
| Law on Immovable Property Tax (Likumi.lv) | Official law defining property tax rates and liability. | We used it to describe ongoing annual property tax based on cadastral value. We kept the annual cost section legally accurate even when municipal rates differ. |
| KPMG Latvia Tax Card 2025 | Major global tax firm's transparent rate snapshot for professionals. | We used it to triangulate rental income and capital gains rates. We used it when official pages were harder for amateurs to interpret. |
| European e-Justice Portal | EU-run portal summarizing national land register systems. | We used it to validate the Land Register as the key ownership record. We pointed readers toward official channels for extracts and fees. |
| Swedbank Latvia Escrow Account | Major Latvian bank with clear escrow process description. | We used it to explain what an escrow account does and why it can add fees. We justified budgeting an escrow line item where relevant. |
| Belyaev & Belyaev Law Firm | Reputable Latvian law firm specializing in real estate transactions. | We used their cost guide to verify notary fees and monthly ownership costs. We cross-checked their estimates against official regulations. |
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