Despite the relatively high prices for apartments and private houses, a large number of migrants choose Latvia as their place of residence. When the flow of those wishing to move to this country increased, the authorities made changes to the legislation: now when applying for a residence permit, not only the market value of the property but also the cadastral value is considered. Moreover, as experts note, these two amounts often do not coincide.
Also important when considering your application is the method of payment for the purchased property – the payment must be made only by non-cash method. At the same time, you also need to stock up on special documents that, if necessary, will confirm your financial solvency. More details on how to obtain a residence permit in Latvia through the purchase of real estate can be found on the website of the company 'OLD TOWN ESTATE' http://oldtownestate.eu, which specializes in working with foreign clients.
As for moving to Estonia or Lithuania, the real estate market picture in these countries looks much simpler than in Latvia. It is worth noting that it was foreign citizens moving to Estonia or Lithuania who gradually developed the real estate market in these countries.
If you want to move to Estonia, you will be able to purchase any apartment or private house here on the same rights as a resident of the country. But there are pitfalls here too. For example, if you are not a citizen of a European Union member state, you will not be able to purchase land located near the border. A non-resident will also not be able to buy land intended for agricultural purposes if its area exceeds ten hectares. Moreover, a land plot can only be purchased by a legal entity.
In Lithuania, the situation is almost identical. As for obtaining a long-term Schengen visa, here it is issued for a period of one year, and in Estonia for two. However, unlike Latvia, these countries do not have a state fee for registering housing.
If we compare the cost of housing in all three countries, Estonia, according to experts, is considered the most affordable for foreign migrants. Latvia, accordingly, is the most expensive, but also the most beautiful country, as foreigners themselves believe. This can be seen in the number of tourists, the flow of which is growing every year.
Many of our compatriots in most cases prefer to buy apartments or houses in large resort cities and earn money by renting out the property. However, one nuance may upset such owners: there is not a particularly large number of people wanting to rent housing here.