The reasons for making an investment into Latvia’s property might be utterly practical or extremely sentimental.

At least seven down-to-earth reasons suggest themselves straight away.

First of all, real estate investing by itself has always been a winning option to make a good money. It is generally known that real estate ordinarily goes up in value in the course of time unlike many other investments that may vacillate rapidly and without warning.

The ‘buy and hold’ approach might be a superb option since you might like to purchase a property and to sell it later on at a higher price. Meanwhile, you could rent the house to another person in order to cover your expenses. If you buy a land plot, you might consider acquiring a caravan or a modular house that are cut-price and comfortable at the same time.

Furthermore, purchasing a land gives you an awesome chance to build a home of your dreams where nothing limits you except your imagination.
Secondly, within the last two years the property in Latvia market reached its bottom: for instance, compared with the third quarter of 2007, at the end of 2009 the prices for flats and houses had decreased for 50-70 per cent. According to some market analysts, the sweeping rise of prices will be observed in the second quarter of 2011. That is to say that it is the right time to seize the opportunity to buy Latvia property in the very near future.

In addition, according to the Latvian law “On Privatization of Land in Rural Areas”, till May 2011 European Union citizens are not entitled to purchase agricultural and forest land in Latvia, and there are certain limitations for purchasing plots of land in towns by EU citizens and juridical persons. After the abolishment of these limitations European investment is predicted to rise that will subsequently lead to price rise on Latvian real estate.

Another pragmatic reason for acquiring real estate in Latvia is connected with amendments to the Latvian immigration law approved on 1 July 2010. According to Article 24 of the Immigration Law, a foreign resident who purchases real estate in Latvia is entitled to obtain a temporary residence permit for a period of 5 years in case he/she purchases immovable property for the sum of not less than LVL 100,000 (appr. EUR 143,000) in Riga, the capital of Latvia, or in Riga planning region that consists of Jurmala, Riga district, as well as the districts of Tukums, Ogre and Limbazi or for the sum of not less than LVL 50,000 (appr. EUR 71,500) outside Riga and Riga planning region.

Consequently, in case you are interested in the acquisition of property in the European Union, buying real estate in Latvia is a beneficial option. Moreover, as on 21 December 2007 Latvia joined the Schengen zone, non-EU residents who own Latvia property is eligible to acquire a Schengen visa for 5 years that allows them to freely and easily travel to all EU countries.

Visit http://latviaproperty.weebly.com to find out more about the other reasons why you might like to invest into Latvia real estate as well as about Latvia, Jurmala and Latvian real estate for sale.

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