Real estate in Latvia up to 100 thousand euros

We present to you an article prepared by Luminor, Latvia's largest bank, on the topic of what properties can be purchased for 100 thousand euros.

This amount is the average transaction for Latvian residents when using a mortgage loan.

Real estate prices are determined by location, technical condition of the property, and area. Therefore, you can consider the following options.

Soviet-era apartment buildings. In many districts of Riga, you can purchase apartments in Soviet-era buildings. These are standard-design buildings or special projects. For 100,000 euros, you can purchase a three or four-room apartment in good condition. Apartments in desirable locations with quality finishes will cost more.

Apartment in a historic building. In various districts of Riga, you can find buildings built in the late 19th century or early 20th century. These apartments have high ceilings and thick walls. Sometimes original elements are preserved - fireplaces, decorative plasterwork. The buildings may be brick or wooden. The condition of apartments and buildings ranges from dilapidated to fully renovated. Floor area also varies. On average, for 100,000 euros you can purchase a two or three-room apartment.

Apartment in a new building (i.e., a house built after 2000). New projects are located in various districts of Riga. In this price range, the location may not be the most convenient. A new building offers good living quality - there are playgrounds, an arranged courtyard, and parking for cars. These are modern floor plans with relatively low utility payments.

The main drawback is small floor areas. For 100,000 euros you can purchase a two or three-room apartment with an area of no more than 60 square meters.

Private house in Riga's suburbs. The main factors are the distance to Riga, infrastructure (availability of public transport stops, shops, etc.), quality of the access road, exterior or interior finishes, and legal aspects (if the house is not yet registered as completed, the price will be lower).

With a budget of 100,000 euros you can purchase a house without interior finishing (at a distance of 40-50 km from Riga), or a small house requiring renovation (within Riga).

We can also add that according to KOM-INVEST, it is important to determine the purpose of your purchase. For personal residence, it is preferable to purchase an apartment in a historic building or a new building.

If you have the ability to perform construction work affordably and with quality, then you can consider options of historic apartments needing renovation or house options. After completing renovation and improvement work, the property value will increase.

If you are interested in renting out, you should definitely choose quality apartments in new buildings.

If you wish to purchase any good real estate property and individual approach is important to you, if you want to communicate with a realtor and lawyer in your native language, please contact our company KOM-INVEST! We will be happy to select a suitable property, answer all your questions, point out important details, complete the transaction, arrange your residence permit, and manage your property.