Latvian real estate market poses to Russia

Since the adoption of the Law "On Immigration" in July this year, Latvia has become a zone of heightened interest. And I must say is not in vain. The Latvian authorities offered to foreigners is not just to buy a property, but to get a residence permit. True, make it uneasy. So, to claim the residence permit may be only those persons who have acquired the Latvian real estate in an amount not less than 50 thousand lats or 72 thousand euros in the smaller towns, as well as at least 100 thousand lats in cities such as Riga, Jurmala, etc. For comparison, in other European countries, this amount is much more inflated: Andorra - 350 thousand euros, while in Bulgaria, 500 thousand euros. In this case, even the fact of purchase does not guarantee the possibility of obtaining residence permits, but only one of its prerequisites. Typically, an application for obtaining a residence permit shall be considered within 3 months, and if so issued for a period of 5 years. The amendments entered into force on 1 July this year. Thus, legislators hoped to popularize real estate in the Baltic region and attract further investment into the country. However, experts do not succeed. Foreigners and even stare at the beauty of the Riga seaside, but they do not particularly zealous. Did not save even the fact that the crisis in housing prices in Latvia fell by half, compared with a peak (2007) decreased by 64% and in Riga and at all decreased by 70%. Writes BFM.ru citing portal db.lv, by September for the three months of potential foreign investors have filed a total of 18 applications, and by October the number had risen to 28. However, such figures do not all agree. "The number of hits the Russians for buying property in Latvia are dozens, transmit, Vedomosti, referring to representatives of several international real estate agencies. In particular, the medium was considered 14 requests for receipt of GNI, with 7 of them were satisfied. Talking about it and Latvian banks. According to them, really want to get residence permits much a problem for workers consulates of the two countries belonging to the Russian investors unfriendly. True or not - time will tell. However, for many Russians to obtain residence permit in Latvia - it's a good opportunity to settle in Europe, analysts said. Also considered, and various real estate agencies. For example, according Prian.ru, today Latvia is in the top-10 ranking the most popular among the Russian real estate market, ranking it an honorable place in July. By the way, most of our countrymen continue to show interest in Bulgaria, followed by Germany, Spain, Czech Republic, Italy and Finland. Miel-DPM »also aims to Latvia on 6-7 place at the request of the Russian people. It is true that with regard to Bulgaria, there is the slow-down, the agency notes that "over the past three years, demand for residential property in Bulgaria among Russians has decreased by 12 times.