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Old July 13th, 2010, 01:20 PM   #61
Gatis
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There is demand but there is no money to pay for it (bad joke, I know)
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Old July 13th, 2010, 02:28 PM   #62
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Originally Posted by ABC LV View Post
Do you live there Infra?
I know a person who does.
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Old July 13th, 2010, 02:54 PM   #63
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There is demand but there is no money to pay for it (bad joke, I know)
On July 01, 2010 a new immigration law became effective in Latvia, under which any foreigner and his immediate family members (spouse and children) are granted the Latvian residence permit when he/she purchases an apartment or house worth at least 100,000 Lats (~200,000 US Dollars) in Riga and at least 50,000 Lats (~100,000 US Dollars) in any other Latvian city. With this permanent residence they can freely travel without visas to any Schengen country (all EU countries + Switzerland). Hopefully, this will boost up the demand on Latvia's real estate market and allow for a completion of unfinished residential complexes.
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Old July 13th, 2010, 10:07 PM   #64
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^ Dream on.. Even though this sounds perspective, that idea wouldn't get popularity among foreigners (many reasons unfortunately why not..).
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Old July 13th, 2010, 11:19 PM   #65
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^ Dream on.. Even though this sounds perspective, that idea wouldn't get popularity among foreigners (many reasons unfortunately why not..).
Why not?
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Old July 14th, 2010, 12:23 PM   #66
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^ F.i. have you thought about our bureaucracy and other deed aspects that hamper the investors? That's one of the main reasons why we are not that much attractive to foreigners..
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Old July 14th, 2010, 12:56 PM   #67
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You know something about bureaucracy here but you don't know much about bureaucracy elsewhere
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Old July 14th, 2010, 02:15 PM   #68
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You know something about bureaucracy here but you don't know much about bureaucracy elsewhere
In this particular case, the procedure does not appear to be complicated. Below is its detailed description in Russian:

Quote:
Oформление вида на жительство
Как покупателю недвижимости (с 1 июля 2010 года)

Необходимые документы:

* Копия паспорта и копия заграничного паспорта
* Справка об отсутствии судимости. Образец можно посмотреть здесь.
* Медицинская справка о том, что человек не болен туберкулёзом. Содержание справки можно посмотреть здесь.
* Документ, подтверждающий необходимое обеспечение проживания (справка из банка или travel чеки на сумму EUR 2900 для взрослых и EUR 1800 для детей). Cодержание банковской справки можно посмотреть здесь.

Документы по недвижимости:

* Договор купли-продажи
* Земельная книга


Процесс оформления как покупателю недвижимости:

* Нужно заполнить анкету клиента и прислать нам на е-маил или по факсу. Образец анкеты можно посмотреть здесь.
* Документы о инвестицыях/недвижимости и копию паспорта покупателя присылают в Латвию по почте или подаётся лично.
* Одновременно покупатель оформляет необходимые ему документы
* Из Латвии присылают документы по недвижимости
* Документы владельца недвижимости подаются в посольство Латвийской Республики на Украине/в России
* Принимается решение о выдаче разрешения на временный вид на жительство инвестору или владельцу недвижимости
* Представитель должен явиться в посольство Латвийской Республики для получения эмиграционной визы
* Представитель должен приехать в Латвийскую Республику для получения временного вида на жительство.

http://europeanalliance.eu/index.php/ru/service/_17
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Old July 14th, 2010, 09:50 PM   #69
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Looks not that much complicated, my appologies.. Seems our goverment is indeed desperate for foreign investitions!
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Old July 15th, 2010, 12:25 AM   #70
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It was highly speculative project made with a lot of investments from Irish citizens (among others) who wanted to earn big selling the appartments they bought there like in Dubai, no? The bubble exploded before the 4 towers were finished. Question is now, about the third tower. Finish or Destroy?
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Old July 15th, 2010, 11:03 AM   #71
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If destroy the third, then whole project is to be torn down because it can look fine only after all the four towers are constructed! With just two highrises standing the view is graceless, no shapes, no point of creating a highrise cluster in that area in perspective..!
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Old July 15th, 2010, 01:15 PM   #72
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There is no reason to tear it down. Build quality should be very good, location is good. At some time there will be enough clients willing to buy an apartment there and then it will be built.
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Old July 15th, 2010, 02:48 PM   #73
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There is no reason to tear it down. Build quality should be very good, location is good. At some time there will be enough clients willing to buy an apartment there and then it will be built.
The Panorama Plaza apartments sure fall under the price category outlined in the new immigration law. This opportunity should be of a particular interest to people from the ex-USSR countries with relatively high income (but not necessarily extremely wealthy) who would like to see their families living in generally safer and more developed Western Europe rather than in their home countries with largely brutal and inadequate populations.
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Old July 15th, 2010, 04:29 PM   #74
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"Brutal and inadequate population". Sounds badass.
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Old July 15th, 2010, 05:37 PM   #75
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Simply look at this project to see how Riga's economy is doing, they are fine apartments (but not to everyone's taste). More like this will signify a prosperous Riga. I believe there will be more.
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Old July 15th, 2010, 08:09 PM   #76
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"Brutal and inadequate population". Sounds badass.
Should have I written "the prospective national elites"? lol

Not to mention the quality of education in most ex-USSR countries which is virtually RIP in comparison with Western Europe. Both low morals and low education level produce such populations. Not the best type of environment to live in.
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Old July 15th, 2010, 09:35 PM   #77
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Well, I must agree that the real estate is one of the main indicators of country's economy progress. So, due to the fact that it was considered that the recession should be up in some two years, I guess we could see these towers rising after few yeras!
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Old July 15th, 2010, 09:47 PM   #78
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Well, I must agree that the real estate is one of the main indicators of country's economy progress. So, due to the fact that it was considered that the recession should be up in some two years, I guess we could see these towers rising after few yeras!
Monetary assets in all currencies inevitably depreciate in value against real estate over time worldwide and banks offer ridiculously low interest rates on deposits. Therefore, real estate will remain one of the investors' favorite ways to safely store their assets without a risk of their considerable depreciation.
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Old July 16th, 2010, 09:47 PM   #79
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It was highly speculative project made with a lot of investments from Irish citizens (among others) who wanted to earn big selling the appartments they bought there like in Dubai, no? The bubble exploded before the 4 towers were finished. Question is now, about the third tower. Finish or Destroy?
I guess it costs about the same to finish it as to destroy it, so finishing the third tower is a more viable option. The next several months will illustrate whether the changes to the new immigration law will prove effective. If so, Latvia will continue opening up to foreigners, and the influx of new people will mean the influx of fresh money into the country's economy, thereby facilitating its recovery. It will also hopefully make Latvia more cosmopolitical and stronger, as all internal political frictions will ease following the defeat of a "one-nation state" idea.
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Old July 21st, 2010, 11:36 AM   #80
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omg, again.. there are representatives of more than 100 nationalities living in such a small country as Latvia nowadays. We are one of the most tolerant nations in Europe or perhaps even in the world. We have Orthodox, Catholic, Lutheran and countless other religions peacefully co-existing together for centuries. Ethnic intermarriagies are absolutely normal thing here in Latvia. Study basic facts before coming up with utter crap influenced by Russian media and state-controlled propaganda. Ethnic nationalists have always been insignificant minority in Latvia, it is just that we're too small a nation to stand against the lies machinery of Russian Federation to be able to counter all the shit that is poured on us by their TV and mass media. I wonder what are you doing here, if you have so much against our state? There are other "better" places like Bulgaria, for instance. Go to their forums and search for real estate there instead. And have a nice day.
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