Property maintenance costs in Latvia

It costs about 1.0–1.5% of the property value per year to maintain real estate in Latvia.

Real estate in Latvia 1,912 listings on Tranio

400,000 €

Two-bedroom apartment with a balcony in Art Nouveau style building in prestigious district of Riga – Quiet Centre

Total area 97 m² 2 bedrooms

235,000 €

3-bedrooms apartment 102 m² in Old Riga, Latvia

Total area 102 m²

140,000 €

Furnished apartment with a balcony in a house with a rooftop terrace, a closed courtyard and a playground, Riga, Latvia

1 bedroom 1 bathroom

1,000,000 €

For sale an exclusive apartment in prestigious Embassy area

Total area 236 m²

1,300,000 €

Apartment in Quiet centre of Riga

Total area 174 m² 3 bathrooms

240,000 €

Unique apartment with tower for sale

Total area 190 m²

340,000 €

Elegant 3-room 2-level apartment with low utilities bills, in the center of Riga

Total area 133 m² 2 bedrooms

460,000 €

The spacious 5-room apartment, newly renovated and furnished, in an old house in the center of Riga

Total area 155 m² 3 bedrooms

Taxes

The annual land and commercial property tax rate is 1.5%. Residential houses and apartments are taxed at 0.2–0.6% depending on the cadastral value. You can find the cadastral value at Kadastrs.lv.

Income generated from rent is taxed at 24%.

Utility bills

Utility bills for an apartment in Riga amount to €40–60 in summer and €200–260 in winter. For a house with concierge service in a gated community in Jūrmala, the owner will pay €200 per month on utilities during the summer and about €360 per month during the winter. For a three-bedroom apartment of 60 sq. m in Dārzciems, maintenance costs are €85 per month during the summer and €200 per month during the winter.

Insurance

Property insurance is not compulsory in Latvia. However, properties bought with mortgages must be insured and annual insurance costs are about 0.10–0.15% of the insurance coverage.