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Property in Riga

Demand for property in Riga, the capital of Latvia continues to increase, helped by Latvia’s entry into the European Union in May 2005. As the capital city of a country with high economic growth and low interest rates, Riga has become a very desirable destination for property investments. It is a popular business centre for the Baltics and currently Latvia is the only Baltic country where a foreigner may obtain a mortgage for their real estate investment. Property prices have been rising in Latvia recently with the most notable rise being seen in Riga, where last year, some areas saw rises of up to 40%.

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About Riga - Riga

Riga
Riga Main Square
Typical Apartment

The Republic of Latvia is situated in north-eastern Europe, bordered by Estonia to the north, by Lithuania to the south and south-west.

Its capital Riga lies on the banks of the Daugava river, close to where the river flows into the Gulf of Riga. Riga is the largest city in the Baltic States and due to its history and geographic location, an important centre of industry, finance and transport for the Baltic region. Latvia's territory of 64,000 sq. km. is larger than Denmark, the Netherlands, Belgium and Switzerland.

Today Riga’s heritage is reflected in the buildings that were built during the Middle Ages, as well as numerous examples of architectural styles including the Romanesque, Gothic, Classicism, Eclecticism and Baroque. In the 13th century, a number of elements of German culture were introduced in Riga. The old town of Riga has preserved the compactness of the medieval fortified town. It is a beautiful place to visit and the boom in the property market confirms why visitors and investors alike continue to come.

CLIMATE

Summer daytime temperatures average 22 °C (71 °F) dropping to 4 °C (40 °F) in the winter.

HOW TO GET THERE

Over 20 UK Airports have flights directly to Riga including Gatwick, Heathrow, Stansted, City Airport, Bristol, Cardiff, Southampton, Birmingham, Norwich, Newcastle, Teeside, Manchester, Leeds, Glasgow, Aberdeen, Edinburgh and Belfast.

AirBaltic flies direct to and from Riga from many European cities including London, Manchester, Dublin, Amsterdam, Brussels, Cologne, Milan, Moscow and others. Discount airline Ryanair flies to Riga from London Stansted. Easyjet also fly to Riga from Berlin Schönefeld.

In North America, AirBaltic partners with SAS to reach Newark, Chicago, Seattle and Washington D.C. airports via Copenhagen. British Airways has direct scheduled flights five times per week direct to Riga.

It’s also worth a check with British Air, Finnair, KLM, SAS, Austrian Airlines and BMI for weekly scheduled flights to Riga via their European hubs.

Demand for property in Riga, the capital of Latvia continues to increase, was helped by Latvia’s entry into the European Union in May 2005. As the capital city of a country with high economic growth and low interest rates, Riga has become a very desirable destination for property investments. It is a popular business centre for th Baltic countries.