Latvia REAL ESTATE MORTGAGE LOANS BANKS
1. Latvia - the world leader in the fall of property prices.

From the analysis of Global Property Guide prices in Latvia decreased by an average of 40%. Last year (as at July 2008) fall in prices on the cost of typical apartments in housing estates of Riga was 59,2%, and compared with the maximum price, the reduction of 71,51%. Currently, the cost of standard-type apartment reached the level of 2003-2004.

In turn, the average price of land in the vicinity of Riga declined by at least three times to the highest value in the spring of 2007.

Since Latvia is located in the European Union, the property will naturally rise in price over time and over the years on prices tightened to other countries in Europe.

2. In a world growing economic crisis, the duration of which find it difficult to determine the best international analysts.

In this regard, investors move money into the markets clear, which, inter alia, applies to real estate. In particular, the Latvian market had prosest still in the first half of 2008, when the cost of Russia’s real estate is actively growing. Thus, the Latvian market, had fallen in price, proved to be one step ahead. Buying a property in Latvia may be a way to ride out the crisis in Russia’s housing market.

Can bring the greatest return on investment in the markets have reached the bottom. According to recent reports in the Latvian real estate market there are indicators showing that prices begin to stabilize and to analysts’ forecasts in October - November 2009 in the Latvian real estate market will begin active movement.

International research agency Global Propertw Guide in its June analysis of the market offers investors pay attention to the Latvian housing market. “Investors should view this place. It becomes really interesting. Where the crisis - and there are always opportunities. The collapse of Latvian real estate market resumed its value investing “- writes Global Property Guide.

3. “Sacred” property rights for the citizens of Latvia and the Latvian non-citizens, including Russians,
regardless of citizenship, nationality and religion of the owner. “Sacred” is based on the restoration of law pre-war Republic, as well as to maintain a pre-war times the Land Register. Since 1992, all real estate in Latvia returned to the former rightful owners. Correctly register the ownership of a particular owner may be expropriated only in exceptional situations to deal with Cy (Parliament) of compensation at market price. Many representatives of business and show of Russia’s elite owned real estate in Riga and Jurmala, on the coast of the Gulf of Riga and in other regions of Latvia.

4. Stable legal framework for the sale-purchase of real estate
to register the purchase in the Land Register (Land book - it is a state register, which make a property and fix the associated rights. Land available for all books, records of them have public confidence) and “transparency” to purchase design, analysis, price and location of property .

  The procedure of buying property in Latvia is not required for foreigners no additional costs, such as registration of legal entity and create jobs for its citizens.

The order of real estate transactions in Latvia is very well regulated by laws. To register the transfer of ownership need a passport or constituent documents of parties to the transaction, contract, landed a book deal, certificate of absence of encumbrances in the land book, certificate of tax payment. In Latvia, for foreigners there are no restrictions on the purchase of real estate, including land for housing. The restrictions apply only to the border lands, lands in the dune protection zone, as well as agricultural land and forests.
Nevertheless, there are various options for conducting transactions in which the above restrictions do not apply.

5. Possibility for foreigners legally rent
purchased property (apartments, houses) with payment of relevant taxes. In the conduct of any business, non-residents of Latvia is fully assimilated to the residents and no additional taxes are not.

6. The presence of ownership of real estate in Latvia provides a basis for a multiple of annual Shengenovskoy visa. Owners of immovable property in Latvia, as well as business owners and their employees have the right to formalize a long-term Schengen visa for up to five years.

Besides the obvious benefits of investment in European real estate, buyers of foreign real estate in Latvia have the opportunity over five years to travel freely around Europe. In some cases it is possible to obtain temporary or permanent residence.

8. The proximity of the euro-region of Russia.
Distance from Moscow to Riga by air - 850 km, is about a half hour flight. Regular flights 2 times a day from Sheremetyevo perform “Aeroflot” and “Air Baltic”, and since last year from Vnukovo introduced a direct flight to Liepaja airline Moscow government “Atlant-Soyuz. Every day at 7 pm with the Riga station goes “Latvian Express and will arrive in Riga at 10 o’clock. Travel by private car from Moscow to Riga takes 6 - 8 hours.

9. Lack of discrimination in Latvia, the Russian language in everyday life and in public places, the near absence of domestic nationalism.
State policy on these areas has no significant effect, it is only the official propaganda. In fact, Latvia remains the Russian-speaking from the three Baltic countries - about 40% of Russian or other ethnic groups, speaking in Russian - and Russian language is a compulsory requirement for work in major companies, especially in the service sector. Personnel of hotels, restaurants, shops applies to the guests carefully and respectfully - regardless of nationality and citizenship. Russian language - the usual daily background against which the newcomers did not distinguish from the locals. In Latvia, there is education in Russian, Russian-language media, television, radio, bookstores, etc. Education in Russian is available both in private or public schools and in institutions of higher learning that actively cooperate with western universities and exchange programs students, allowing students to study and practice to explore business in Europe

10. Quality of selling apartments in new projects.
Latvia has not decided to sell new buildings, even economy class in the form in which they are sold in Russia. As indicated by the seller price includes preparing the apartment for finishing. Sometimes the price includes full finish flat, which the developer carries out its forces after the conclusion of the contract of sale.

In Latvia the law resolved some questions, which in Russia and, in particular, in Moscow just discussed. Thus, the buyer apartments in an apartment building becomes the owner must share not only common areas (stairs, basement, etc.), but the land under this house. A building regulations, which strictly adhered to, prescribe to ensure each new apartment at least one parking space.

11. The possibility of obtaining a mortgage loan.
Latvian banks guarantee complete confidentiality of transactions with real estate and, despite the crisis, are ready to consider the possibility of a mortgage, including non-residents. Interest rates are much more profitable than they were three years ago, for example annual rate in the Euro now stands at 5-6% including the Euribor. The only “negative” - to the customer presents an important requirement - the real and reliable pay. Mortgage loans can be granted to private individuals to purchase residential real estate, and legal entities for commercial purposes.