Latvia — Property: Buying Process

Why this matters

Foreign buyers should understand the specific property buying process in Latvia to avoid potential issues and ensure a smooth transaction.

Key facts

• Real estate transactions must be in writing and involve a notary, either as a notarial deed or as a private contract plus a notary-certified registration application (nostiprinājuma lūgums) addressed to the court.
• State fee for registering a purchase: 1.5% of property value for natural persons, 2% for legal persons; 0.5% between close relatives; 3% for gifts; mortgage registration 0.1% of the loan.
• The fee base is the higher of the contract price or the cadastral valuation.
• Chancery fee for registering new ownership is EUR 15 (EUR 8 for a land register certificate); online submission costs 90% of the statutory rate.
• Latvian and other EU citizens face no special requirements to buy; non-citizens need a municipal permit for land and cannot buy land in border zones, nature reserves, coastal dune zones, water protection zones or agricultural/forest land unless for construction.
• Buying agricultural land over 10 ha requires business registration in Latvia, a written statement of agricultural use and tax debts of no more than EUR 150.
• Paper registration applications are accepted only at court by prior appointment; electronic submission is encouraged.

Steps

1. Step 1: Finding a Property — Work with a reputable real estate agent to find a suitable property, and ensure they have experience working with foreign buyers.
2. Step 2: Due Diligence — Conduct thorough research on the property, including reviewing documents, inspecting the property, and verifying ownership and any liens.
3. Step 3: Offer and Negotiation — Make an offer on the property, negotiate the price and terms, and ensure all parties agree on the terms of the sale.
4. Step 4: Signing the Purchase Agreement — Sign a notarized purchase agreement outlining the terms of the sale, including the price, payment schedule, and any conditions.
5. Step 5: Registration with the State Land Service — Submit the necessary documents to the State Land Service for registration and obtain a certificate of registration.
6. Step 6: Payment and Transfer of Ownership — Complete the payment, and the seller transfers ownership of the property to the buyer, and the buyer receives the title deeds.