KOM-INVEST maintains relationships with all clients who purchased real estate and obtained a residence permit in Latvia with our company's assistance. Therefore, we propose to analyze the situation with real estate properties that KOM-INVEST clients have acquired since 2010, that is, since the beginning of the residence permit program in Latvia.
Apartments purchased in 2010-2011 have increased in value by approximately 20-50% and higher, depending on location.
For example, in 2011, a 3-bedroom apartment with underground parking and a separate storage room in a new building in Riga was purchased for 143,000 euros. Located in the very center of Riga with spectacular panoramic views from the windows. Today, such an apartment costs a minimum of 250,000 euros, and in principle, a similar option cannot be found in the center even for this sum. The price increase over 3 years was at least 70%.
Small apartments purchased in another new project in the center for approximately 100,000 euros were sold in August 2014 for 168,000 euros.
A 2-bedroom apartment with underground parking, purchased in Old Riga in late 2013 for 215,000 euros, now costs around 260,000 euros.
In residential districts of Riga, prices for new buildings have not grown as rapidly, but on average, price growth has been 10-15% per year.
In Jurmala, elite apartments purchased for 500,000 euros and above have practically not increased in value due to a large number of new construction projects. Currently, approximately 40 new buildings are under construction in Jurmala. Any investor considering the purchase of expensive housing in Jurmala focuses primarily on new elite projects rather than secondary housing.
Our clients purchased expensive apartments in Jurmala for personal use, visiting Jurmala for holidays several times a year.
Jurmala has always had a significant shortage of affordable new apartments, so apartments purchased within 150,000 - 200,000 euros have increased in price to approximately 250,000, because even now in this price range in Jurmala there is practically no selection, everything is significantly more expensive.
Approximately 20% of our clients, having purchased apartments in 2011 - 2012 and obtained a residence permit in Latvia, in 2014 decided to reinvest in Latvian real estate and purchased additional apartments in new buildings with the aim of profitable rental returns. In such cases, we helped clients find affordable small-area apartment options to maximize rental income.
Approximately 10% of our clients, after purchasing real estate and obtaining a residence permit in Latvia, consider options for serious investments in commercial properties, purchase of private houses, hotels, business acquisition, and company registration. Here we are talking about investments from 500,000 euros to several million.
KOM-INVEST specialists help find investment properties, analyze their market attractiveness, complete transactions, and provide assistance in managing or implementing investment projects.
From all of the above, the conclusion naturally suggests itself that all investors who have purchased real estate in Latvia over the past 4 years to obtain a residence permit have not only gained the opportunity to live and work in a European country but have also made a profitable investment. Real estate has increased in value, and Latvia remains an attractive country for further investment.
Contact KOM-INVEST, and our specialists will offer you the most advantageous and attractive options for purchasing real estate and investment properties.
Have questions? We look forward to your email or call!
Phone number: +371 29774775
Email: info@kominvest.com
Skype: KOM-INVEST