Why it is profitable to invest in real estate in Riga.
- The average return on investment of real estate in Riga is about 4-6% per annum, which is considered a very good indicator by the standards of Europe.
- In Riga, there is no language barrier problem - almost everyone here speaks English, or at least they will understand your speech.
- It is convenient to travel around Europe from Riga. From Riga International Airport you can fly to almost anywhere in the world. It is possible to fly cheaply across Europe with low-cost Ryanair, Wizz Air, and LOT Polish Airlines. AirBaltic, Turkish Airlines, Lufthansa, Uzbekistan Airways, and Norwegian Air International also fly from Riga Airport.
- A popular investment option is to purchase real estate in order to obtain a residence permit and rent it out. This is not difficult to implement, since housing is in demand in almost any district of Riga. A guaranteed successful option is to buy a property in the center of Riga or in the Old Town. Here you will rent a house in record time. Read more about obtaining a residence permit in Latvia at the link.
Rich cultural heritage, interesting leisure.
The Old Town of Riga is recognized as a masterpiece of human genius and is listed as a UNESCO World Heritage Site. The historic center is famous for its preserved medieval architecture, Art Nouveau, and wooden buildings from the 19th century.
Riga is a city with a rich cultural heritage and offers many leisure options. It is no coincidence that in 2014 Riga was chosen as the European Capital of Culture. In Riga, you can explore not only countless museums, architectural masterpieces, and picturesque streets, but also visit the zoo, water park, and national natural parks. The Latvian National Opera is the pride of Latvia, here you can hear the best voices in the world.
All kinds of gastropubs, wine bars, signature restaurants, nightclubs, and cinemas are open to visitors. Riga is not a city where life stops in the evening. The nightlife of Riga is rich and interesting.
Ecology and safety.
In terms of air quality, Latvia is among the greenest countries in the world. This is one of the factors that positively affect the life expectancy of citizens.
Riga is a very safe city, for many years the crime rate here has been consistently low.
Cyclists in Riga can travel safely on cycle paths. Latvia is trying to keep up with its European neighbors and is developing infrastructure for "green" modes of transport, and this is, first of all, a bicycle.
As in other European capitals, the topic of ecology and eco-products is gaining momentum in Riga as well. In the capital of Latvia, there are two retail chains of local bio products: Biotēka and Bioss, as well as Dabas Dobe, Dabas Stacija, and Zaļā Govs stores. At the Riga Central Market and regional markets, you can buy local products from Latvian farmers. The recently restored Agenskalns market (Pardaugava) deserves special attention, which has the status of a cultural monument of national importance.
Living in Riga, you can enjoy all the benefits of the European capital and at the same time, if you wish, quickly get to nature. Jurmala, the main Baltic resort, is only 25 kilometers from Riga, and Saulkrasti, a picturesque town on the shores of the Gulf of Riga, is 50 kilometers away. Also in the district of Riga, there are many picturesque lakes, rivers, forests, and hills (according to the legend, the Latvian land is called the land of Mary - Terra Mariana). The proximity of the sea and the opportunity to be in nature have a positive effect on the spiritual and physical condition of Rigans and guests of the capital.
Education in Riga.
Riga provides all the opportunities for quality education. Secondary education can be obtained in both public and private schools.
International schools are popular among ex-pats, as students receive education in licensed international programs listed all over the world. There are several international schools in Riga: International School of Riga, The British School of Latvia (King's College), and Exupery Boarding School in Latvia.
Separately, it is worth noting that King's College is the first school in the Baltics that provides a curriculum at the level of prestigious UK schools. Students at King's College are prepared to enter the most prestigious universities.
Exupery International School is a fully licensed International Baccalaureate (IB) school currently offering the Preschool and Early Years Program (IB PYP) for preschoolers and elementary students and the International Baccalaureate Diploma Program (IB DP) for high school students.
However, quality education is also available in Riga in public schools, where education in foreign languages is also available. For example Riga State German Gymnasium, Riga Ukrainian Secondary School.
Education in Riga universities is predominantly in Latvian, but there are also many English-language programs. The most prestigious universities in the country are the University of Latvia, the Riga Technical University, and the Riga University. Stradins (medical school), Stockholm School of Economics in Riga - offer English-language programs for foreign students, while the required level of English proficiency is relatively low - from 5.5 IELTS.
Sports and recreation for adults and children.
In Riga, it is easy to choose a hobby or a sports section for a person even with the pickiest taste. In addition to standard volleyball, basketball, and badminton, there is an opportunity to engage in a variety of activities. One of the most prestigious sports in Latvia is hockey. Only on the territory of Riga, there are 10 hockey schools where you can send your child to study. By the way, there is even a hockey club for girls - Laima.
Tennis courts are also open to visitors (Concept, Riga Tennis Academy, Ostapenko tennis club, Enri Kalnciems, etc.), golf courses (Ozo Golf Club - one of the best golf courses in Northern Europe, Saliena Golf, Golfs Viesturi), football fields (Baltic Sports Village - has 3 football fields with heating and nanotechnological grass).
In Riga, you can practice such unusual winter sports as curling and bobsleighing. In the summer, rafting or canoeing, SUP board rentals are popular. Popularity is quad bikes and karting. Karting Tracks in Riga are equipped with the most modern time tracking systems. Fans of an active and sporty lifestyle will appreciate Riga, as there are many sports and fitness centers, swimming pools, and outdoor and indoor tennis courts (including squash centers).
Other advantages of Riga.
According to the International Happy Planet Index, as of March 2022, Latvia ranks 42nd in the list of the happiest countries, almost twice ahead of Russia (Russia ranks 80th). In the list of countries according to the human development index, Latvia ranks 37th in the world ranking.
There are more than 800 free Wi-Fi distribution points in Riga, as well as high-quality internet. Latvia ranks fourth in the world in terms of internet connection speed.
Popular objects of social infrastructure in Riga:
National Library of Latvia Gaismas Pils
Zoo Rigas zoodārzs
Arena Rīga sports and concert complex
The largest park in Riga Mežaparks
Latvian National Opera and Ballet
The House of the Blackheads is one of the key sights of Riga
The Dome Cathedral
Riga TV tower
Museum of Foreign Art
Latvian National Museum of Art
Olympic Sports Centre
Riga Art Nouveau Museum
Riga Theatre. Chekhov
Russian Drama Theatre in Riga
In Latvia, it is surprising how affordable such rare things for residents of megacities as spacious sandy beaches, clean forests, fresh air, and the opportunity to swim in ponds and rivers, pick mushrooms, and fish can be almost a five-minute drive from the city.
And given the high quality of life and developed infrastructure that distinguishes Latvia, real estate investment here will never lose its appeal.
Come to Latvia to be convinced of its prospects, comfort, and sustainable development.
The Mercury Group
team will be happy to meet you, show you, and tell you everything about life in Latvia.
See you soon!