Good news - at the government level, an initiative is being discussed to exempt primary residential property from real estate tax starting in 2022.
This will apply to primary residence with a cadastral value of up to 100,000 euros.
This will also apply to the only property that the owner does not occupy but rents out, with official registration in the land register.
Currently, real estate tax is paid by all property owners - residents of Latvia, foreigners, and legal entities.
Our company will monitor the development of this legislative initiative, and we hope it will be approved.
This will have a positive impact on the real estate market.
First, the freed-up funds can be directed toward repair work.
Second, it will increase returns when renting out property.
If you wish to purchase a quality property and value a personalized approach, if you want to communicate with a real estate agent and lawyer in your native language, then contact our company KOM-INVEST! We will be happy to find the right property for you, answer all your questions, point out important nuances, complete the transaction, arrange your residence permit, and manage your property.
For more detailed information about obtaining a residence permit in Latvia, see here in different sections.
Have questions? We look forward to your email or call!
Phone number: +371 29774775
Email: info@kominvest.com
Skype: KOM-INVEST