Latvia. Riga's riverfront, reborn around a 1905 power station.
Five Eagle Hills residences on the Andrejsala peninsula, a short walk from Riga's UNESCO-listed old town.
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Developer Partners
5
Buildings Listed
EUR
Currency
Closed 2026
Residency via Property
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An EU riverfront address — but no longer a residency route.
Latvia is PropSentral's newest EU market, entered through Riga Waterfront, Eagle Hills' regeneration of the Andrejsala peninsula on the Daugava, built around The Powerhouse — Riga's restored 1905 power station, becoming a retail and gastronomy hub. The five residences listed range from Club Residences, with its own cinema, gym and sauna, to Park Residences, launched in September 2025 with mansard apartments and townhouses; Pier Residences is sold out. Important: Latvia's new Immigration Law ended residence permits for buying real estate (in force from 15 September 2026 according to most reports; one source says 1 January 2027). Buyers should treat these as homes or investments, not a residency route. No prices or completion dates are published; ask an advisor.
Key Advantages
- Five residences on the Andrejsala peninsula: Courtyard, Club, Plaza, Park and Pier (sold out)
- Euro-priced, inside the EU and euro area
- The residence-permit-by-property route closed in 2026 — confirm current rules before buying for residency
- Riga International Airport about 10 km from the centre (developer)
- Built from the developer’s own project pages, factsheets, brochures and floor plans
Latvia — Investment Scorecard
Nine indicators rated 1–10 by the PropSentral research team. Updated quarterly.
Observed Gross Rental Yield Range
4% – 6%
Per annum, based on active listings. Not guaranteed.
Tax Summary
Income Tax
Not independently verified for this platform — confirm with a Latvian tax advisor
Capital Gains
Not independently verified for this platform — confirm with a Latvian tax advisor
Transfer Cost
A state fee is charged on registering ownership in the Land Register; rate not independently verified for this platform — confirm before budgeting
Mortgage Access
Max LTV
Not independently verified for this platform
Typical Rate
Euro-area rates: the ECB deposit facility rate was 2.25% from June 2026
Notes
Latvia is in the euro area and the EU. Confirm bank-finance availability for non-residents with an advisor.
Residency Pathway
Programme
CLOSED — residence permits for buying real estate were discontinued under Latvia’s new Immigration Law
Threshold
The property route no longer applies to new applicants (effective 15 September 2026 per most reports; one source says core provisions apply from 1 January 2027). Existing permit holders may renew under transitional rules
Timeframe
A new fund-based investor route has been introduced; reported minimums conflict (€150,000 vs €500,000) — confirm with the Office of Citizenship and Migration Affairs
Latvia facts on this page are compiled from public and secondary sources, not a Latvia-licensed tax, legal or immigration advisor. The residency rules changed in September 2026 and reports differ on dates and the new fund route; tax rates were not independently verified. Confirm everything directly before relying on it. Scores are qualitative assessments by PropSentral and should not be relied upon as financial advice.
Economic Intelligence
Macro Indicators — Latvia
GDP growth, interest rate environment, currency trends, and tax impact for investors. Static data as of June–August 2026 (ECB rate); GDP data through 2024. Live charts sourced from BIS and FRED.
GDP Performance
Economic Output & Growth
USD billion. Source: Focus Economics / World Bank (nominal USD); real growth figures differ between sources (2023 about -0.3% to +2.9%, 2024 about -0.4%) — treat as approximate.
2023
-0.3%
2024
-0.4%
Interest Rate Environment
Central Bank Rate vs EURIBOR
European Central Bank (deposit facility rate)
2.25%
EURIBOR
2.25%
What is EURIBOR?
Latvia uses the euro, so euro-area monetary policy applies.
⚠️ ECB deposit facility rate raised to 2.25% from 17 June 2026; no later decision found when compiled. EURIBOR was not compiled and is shown equal to the deposit rate.
Currency
LiveExchange Rate — Your Currency vs EUR
Latvia uses the euro.
Latest rate — Oct 26· FRED
1 USD = 0.8930 EUR
US Dollar → Euro
Monthly averages — Federal Reserve Economic Data (FRED), cross-rates computed from USD pairs. For illustrative purposes only. Exchange rates fluctuate — consult your bank or FX broker for transaction rates.
Tax Profile
Property Taxes — Latvia
The real estate residence-permit route closed under the 2026 Immigration Law
Tax information is general guidance only and may not reflect current legislation. Always consult a qualified local tax adviser before purchasing or selling property.
Lifestyle Intelligence
Living in Latvia
Beyond the investment numbers — what does daily life actually cost, and what does it look like?
Cost of Living
Monthly Budget Estimates
Single Person
$1,300 – $2,500/mo
USD equivalent, including rent.
Couple
$2,000 – $3,800/mo
USD equivalent, including rent.
| Expense | Typical Range |
|---|---|
| Rent (1-bed) | Not independently verified for this platform |
| Rent (3-bed) | Not independently verified for this platform |
| Groceries | Not independently verified for this platform |
| Dining out | Not independently verified for this platform |
| Transport | Riga has trams, trolleybuses and buses; the airport is about 10 km from the centre (developer) |
| Utilities | Not independently verified for this platform — winter heating is a major cost |
| Entertainment | Not independently verified for this platform |
| Health insurance | Not independently verified for this platform |
Directional ranges only, not a verified budget. Riga is generally cheaper than Western European capitals; heating costs make winters more expensive.
Quality of Life
Lifestyle Scores
Safety
Crime rate, political stability, day-to-day security
Healthcare
Quality and accessibility of medical care
Climate
Weather, sunshine, and year-round liveability
Expat Community
Size and diversity of international resident base
Education
Quality and range of international schooling options
English Friendly
Daily life ease for English-only speakers
Education
Schools & Universities in Latvia
Riga has a small international school sector serving diplomats and expatriate families.
Available Curricula
Early Years (Ages 0–5)
Not independently verified per school for this platform.
Primary (Ages 5–11)
The International School of Riga and the International School of Latvia are commonly cited.
Secondary (Ages 11–16)
Confirm current curricula and places directly with each school.
Sixth Form / Pre-University (Ages 16–18)
IB Diploma is offered in Riga; confirm current offerings directly.
International Schools
Universities & Higher Education
Top Schools
Annual Fee Range
Not independently verified for this platform
Healthcare
Medical Care in Latvia
Riga has the country’s main public hospitals and a range of private clinics.
Public System
Private System
Health Insurance
Specialist Access
Top Facilities
Insurance Cost
Not independently verified for this platform
Residency & Retirement
Visa Pathways
No retirement visa is listed here, and the real estate residence-permit route closed in 2026 — EU citizens can live in Latvia under EU free movement.
Euro-priced, EU market; property purchase no longer gives residency to new non-EU applicants.
Why expats & retirees choose Latvia
- EU and euro-area capital on the Baltic
- Riverfront living next to a UNESCO-listed old town
- English widely spoken by younger people
- Lower living costs than most Western European capitals
- Long, cold winters with short days — summers are mild and light
Climate
Annual Weather — Latvia
Riga has mild, light summers and long, cold, dark winters with snow. Rain is spread through the year, heaviest in late summer.
| Month | High °C | Low °C | Rain mm | Sun hrs/day | Humidity % |
|---|---|---|---|---|---|
| Jan▲ | -1 | -6 | 45 | 1 | 87% |
| Feb▲ | -1 | -7 | 35 | 2 | 84% |
| Mar | 4 | -3 | 32 | 4 | 78% |
| Apr | 11 | 2 | 37 | 7 | 72% |
| May★ | 17 | 7 | 42 | 9 | 70% |
| Jun★ | 21 | 11 | 62 | 10 | 74% |
| Jul★ | 23 | 14 | 78 | 9 | 76% |
| Aug★ | 22 | 13 | 77 | 8 | 79% |
| Sep | 17 | 9 | 66 | 6 | 83% |
| Oct | 10 | 4 | 64 | 3 | 85% |
| Nov▲ | 4 | 0 | 57 | 1 | 88% |
| Dec▲ | 0 | -4 | 48 | 1 | 88% |
Climate normals (Riga), approximate. ★ recommended months · ▲ peak heat / rain months.
Languages & Culture
Communication in Latvia
Official Language(s)
English Proficiency
HighFor day-to-day expat navigation
Widely Spoken
Common Expat Languages
Business Language
Latvian / English
Latvian uses the Latin alphabet with diacritics. Land Register and notarial documents are in Latvian and usually need certified translation.
English is widely spoken by younger Latvians and in business; Russian is widely understood in Riga.
Cost-of-living figures, named schools and hospitals are indicative and reviewed periodically, not live data — fees, admissions, accreditation and facility names can change. Confirm current details directly with the school or hospital, and current rent/cost figures with your PropSentral advisor, before relying on them for a relocation decision.
5 projects on PropSentral
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Click any pin to view project details. Map shows approximate locations.
Eagle Hills
Courtyard Residences
Andrejsala, Riga Waterfront, Riga, Latvia
Eagle Hills
Club Residences
Andrejsala, Riga Waterfront, Riga, Latvia
Eagle Hills
Plaza Residences
Andrejsala, Riga Waterfront, Riga, Latvia
Eagle Hills
Park Residences
Andrejsala, Riga Waterfront, Riga, Latvia
Eagle Hills
Pier Residences
Andrejsala, Riga Waterfront, Riga, Latvia
Common questions about Latvia
What is the cost of living in Latvia for expats?
A single person typically budgets USD 1,300–2,500/month, and a couple USD 2,000–3,800/month, excluding property costs. Directional ranges only, not a verified budget. Riga is generally cheaper than Western European capitals; heating costs make winters more expensive.
What are the best international schools in Latvia?
Leading options include International School of Riga, International School of Latvia. Riga has a small international school sector serving diplomats and expatriate families.
What are the top hospitals and healthcare facilities in Latvia?
Leading facilities include Pauls Stradiņš Clinical University Hospital, Riga East University Hospital. Riga has the country’s main public hospitals and a range of private clinics.
Can foreigners get residency in Latvia by buying property?
CLOSED — residence permits for buying real estate were discontinued under Latvia’s new Immigration Law. Threshold: The property route no longer applies to new applicants (effective 15 September 2026 per most reports; one source says core provisions apply from 1 January 2027). Existing permit holders may renew under transitional rules. A new fund-based investor route has been introduced; reported minimums conflict (€150,000 vs €500,000) — confirm with the Office of Citizenship and Migration Affairs
What is the typical rental yield in Latvia?
Gross rental yields typically range 4–6% per annum based on active listings on PropSentral. This is indicative, not a guarantee — see this market's own investment intelligence section for the full breakdown.
Is there capital gains tax on property in Latvia?
Not independently verified for this platform — confirm with a Latvian tax advisor
What is the climate like in Latvia?
Riga has mild, light summers and long, cold, dark winters with snow. Rain is spread through the year, heaviest in late summer. Best months to visit: May, Jun, Jul, Aug.
What languages are spoken in Latvia?
The official language is Latvian. English is widely spoken by younger Latvians and in business; Russian is widely understood in Riga.
Answers are indicative, based on PropSentral's own market data and general guidance — always confirm current rates, fees and eligibility with a qualified local adviser before acting.
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Ready to invest in Latvia?
Browse PropSentral's Riga Waterfront listings, then speak with an advisor about availability and prices. Buying property in Latvia no longer leads to a residence permit for new applicants.
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