What do I need to know when buying property in Latvia?

When we asked expats what advice they would give a foreigner before buying a property in Latvia, they said...

"1. It is important to research the local market and understand the current trends in the area before making a purchase. 2. It is important to understand the legal requirements for purchasing property in Latvia, including any taxes or fees that may be applicable. 3. It is important to have a clear understanding of the property's title and any restrictions that may be in place. 4. It is important to have a clear understanding of the property's condition and any potential risks associated with it. 5. It is important to have a clear understanding of the local infrastructure and amenities available in the area. 6. It is important to have a clear understanding of the local rental market and any potential rental income that may be available. 7. It is important to have a clear understanding of the local economy and any potential economic risks associated with the purchase. 8. It is important to have a clear understanding of the local political environment and any potential risks associated with the purchase. 9. It is important to have a clear understanding of the local banking system and any potential risks associated with financing the purchase. 10. It is important to have a clear understanding of the local currency and any potential risks associated with currency fluctuations," said another in Latvia.

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