Waterfront Latvia – Frequently Asked Questions
Project Overview & Lifestyle
Q: What is the Riga Waterfront development and who is behind it?
A: Riga Waterfront is a visionary luxury real estate project in the heart of Riga, Latvia – the
largest master-planned development in Northern Europe . Spanning 55 hectares (about 5 km
of Daugava River frontage), it will include ~8,000 premium residences along with hotels, a
world-class shopping mall, fine dining venues, marinas, and cultural spaces . The project is
led by Eagle Hills (a subsidiary of Emaar Properties), under the direction of Mohamed Alabbar
– famed for iconic developments like Dubai’s Burj Khalifa and Downtown Dubai . Backed by
this globally renowned developer, Riga Waterfront brings international expertise and
credibility to Latvia, ensuring the highest standards of quality and innovation in its design
and construction .
Q: Where is Riga Waterfront located and what is the surrounding area like?
A: The development is ideally located on a peninsula along Riga’s historic port, overlooking
the Daugava River . It’s just a 10-minute walk from the UNESCO-listed Old Town of Riga and
the city center, placing residents close to historic architecture, embassies, and parks . Riga
International Airport is only a 15–20 minute drive away, offering excellent connectivity to
major European and Middle Eastern hubs . The surrounding neighborhood blends cultural
heritage with modern convenience – from museums and concert halls to cafes and boutique
shops in the Old Town. As part of the project, the once-industrial waterfront will be
revitalized into pedestrian-friendly promenades and public plazas (like the planned SoHo
Square and Power Station Mall), making the riverfront accessible and vibrant for everyone . In
short, Riga Waterfront offers a prime central location with both scenic water views and
immediate access to Riga’s urban amenities.
Q: What lifestyle and amenities can residents expect at Riga Waterfront?
A: Living at Riga Waterfront means enjoying a comprehensive luxury lifestyle within a self-
contained community. Residents will have exclusive access to on-site amenities such as
fitness and wellness centers, spa facilities, swimming pools, and private landscaped
courtyards. The master plan includes a world-class shopping and entertainment center,
high-end retail boutiques, gourmet restaurants, and cozy cafes – all integrated along a
beautiful riverside promenade . There will be 5 km of scenic waterfront walkways for joggingor leisurely strolls, marinas for boating enthusiasts, and ample green parks and playgrounds
for families. The development also plans for cultural and business facilities (e.g. art galleries,
event spaces, modern office hubs), creating a dynamic “city within a city” environment.
Importantly, the design emphasizes community: pedestrian streets, semi-private courtyards,
and public parks are woven throughout, encouraging a lively neighborhood feel . In essence,
residents can expect a vibrant, convenient lifestyle where daily needs, leisure, and luxury are
all at their fingertips – all set against the backdrop of Riga’s historic skyline and the Daugava
River.
Q: What is the timeline for the project’s completion and handover of units?
A: Riga Waterfront is an ambitious large-scale development that will be built in phases. The
entire master plan is projected to be completed over approximately 10–15 years, given its
scope . However, you won’t have to wait that long to enjoy your new home – the first
residential units are scheduled for handover by Q3 2027 . This means early buyers can
expect to move into certain completed buildings by late 2027. Subsequent phases (including
additional residential towers, commercial areas, and amenities) will continue to open in
stages in the following years. Investing in the early phases not only secures you a unit at
initial pricing but also positions you to benefit as the surrounding community fully matures.
Rest assured, the development timeline is carefully planned, and construction progress
updates will be provided regularly to keep buyers informed. The developer’s proven track
record with multi-phase projects worldwide is a strong indicator that Riga Waterfront will be
delivered as promised, transforming the area on schedule into a thriving new district of the
city.
Purchasing Process & Legal Requirements
Q: How do I purchase a property at Riga Waterfront? What are the steps involved?
A: Buying a residence in Riga Waterfront is a straightforward process, and our team will guide
you at every step. Here’s an overview of how it typically works :
1. Initial Inquiry & Selection: First, register your interest by contacting our sales team or
filling out an inquiry form. A dedicated Property Advisor will present available units and
options that meet your needs. You may visit our sales gallery or tour show apartments (in
person or virtually) to help choose the perfect property.
2. Reservation & Deposit: Once you select a unit, you’ll sign a preliminary purchase
agreement (or reservation form) and pay a reservation deposit (typically around 5–10%
of the purchase price) to secure the property . This deposit reserves the apartment under
your name and fixes the purchase terms.
3. Sales Agreement: Within a short period after the reservation (usually around 10 days), the formal Sales and Purchase Agreement (SPA) is prepared. You will sign this agreement in the presence of a Latvian notary, either in Riga or remotely via Power of Attorney if you are unable to attend in person. The notary will verify all parties’ identities and confirm that the terms match the reservation. Once signed, the SPA becomes legally binding, securing your rights as the future property owner.
4. Payment Schedule: At contract signing, the payment plan is confirmed. For Riga
Waterfront, a very attractive 20/80 payment plan is offered – meaning only 20% is paid
during construction and the remaining 80% is paid upon project completion and
handover of your unit . Your initial deposit counts toward this down payment. The
specific installment timing will align with construction milestones or as agreed in the
contract. presence of a Latvian notary, either in Riga or via power of attorney if you cannot attend
in person. The notary will verify all documents and the identities of buyer and seller,
making the agreement legally binding .
5. Handover & Final Payment: When your building is completed and ready (handover stage),
you will inspect your finished property. At this point, the final balance (e.g. the remaining
80% under the 20/80 plan) is paid, and a notary oversees the transfer of title. The
ownership is then officially registered with the Latvian Land Register, and you receive
your property Title Deed confirming you as the legal owner . After this, you can take
possession of your new apartment.
Throughout the process, we ensure transparency and support. International buyers can even
complete the entire transaction remotely by granting power of attorney to a representative
or lawyer in Latvia . This structured framework – from initial reservation to notary signing and
registration – protects both the buyer and seller under Latvian law . Our goal is to make your
purchasing journey as smooth and secure as possible.
Q: Can foreign or non-resident buyers purchase property in Latvia, and are there any special
requirements for international buyers?
A: Yes – Latvia welcomes foreign buyers, and international investors can legally purchase
property with almost no restrictions on apartments or commercial real estate . Whether you
are a local Latvian, an EU citizen, or a non-EU national, you have the right to buy property in
the Riga Waterfront development. Unlike some countries, Latvia does not require any special
permit or visa to purchase urban real estate – you can even buy property as a visitor on a
tourist visa . The ownership rights for foreigners (especially for apartments in developments
like Riga Waterfront) are virtually the same as for locals .
Do note that non-EU/EEA buyers are only restricted in purchasing certain types of land (for
example, agricultural or forest land and properties near border zones may require permits) .
This is not a concern for Riga Waterfront properties, which are urban residential units on
privately developed land. In summary, international buyers face no extra hurdles for
purchasing apartments in this project – the process and legal protections are the same for
local and foreign buyers alike. Many overseas investors have already successfully bought
Latvian real estate, and our team is experienced in assisting with the additional logistics that
foreign buyers might need (such as remote document signing or translations).
Q: Do I need to travel to Latvia for the purchase, or can I buy remotely?
A: You do not necessarily need to be in Latvia to purchase a property – the entire transaction
can be completed remotely if needed. Latvia’s property laws allow purchasing via a power of
attorney, meaning you can authorize a trusted representative (such as a lawyer from our
recommended legal partners) to sign documents on your behalf . In practice, many
international buyers choose this route if they cannot visit in person. We can arrange virtual
viewings (live video tours of the site, model apartments, and the surrounding area) so you can
experience the property from abroad . All key steps – from initial reservation to notarizing the
sales agreement – can be handled with digital communication and couriered documents. The
notary signing can be done by your appointed representative, and even the issuance of title
can be managed without you present (you would just need to provide required identification
documents and notarized power of attorney in advance).
Of course, if possible, we encourage buyers to visit Riga to personally tour the site and meet
the team, as it’s a great way to get acquainted with the project and the city. But if travel isn’t
feasible, rest assured buying remotely is fully feasible and routinely done . Our sales and
legal team will coordinate everything and keep you informed at each stage. By leveraging
modern technology and Latvia’s efficient legal framework, we make sure distance is not a
barrier to owning a home in Riga Waterfront.
Q: What taxes and fees will I need to pay when buying and owning a property at Riga
Waterfront?
A: Latvia’s purchase costs are relatively straightforward and low compared to many
countries. When you buy a property in Riga Waterfront, the primary one-time cost to budget
for is the state registration (stamp duty) tax of 1.5% of the property’s value, which is paid
upon the final transfer of title (handover) . This fee registers the change of ownership in the
Land Register. There is also a small notary fee (approximately 0.5%–1% of the price) for
overseeing the transaction , and if you choose to hire your own independent lawyer, legal fees
of around ~1% may apply .
For newly built properties, Latvia applies a 21% VAT on the purchase price – but in
developments like this, the VAT is typically already included in the price you are quoted . In
other words, the list price of the apartment usually factors in VAT, and you are not adding it
on top (and no VAT is charged on interim installment payments during construction) . There is
no additional transfer tax beyond the 1.5% stamp duty – Latvia does not have a hefty stamp
duty like some countries.
After purchase, ongoing costs include an annual property tax (for residential property this isabout 0.2%–0.6% of the cadastral value, which for a luxury apartment might be roughly in
that range) . Additionally, owners pay monthly maintenance or homeowner association fees
for building upkeep and services, plus utilities (water, heating, electricity) as used, and
insurance if you choose to insure the property. These recurrent costs are generally
reasonable in Latvia, thanks to relatively low living costs. Importantly, if you later sell the
property, capital gains tax (CGT) of 20% on any profit would apply (though certain exemptions
exist if it becomes your primary residence, etc.). Our team provides a full breakdown of
purchase costs and can connect you with tax advisors to ensure you have a clear picture of
all financial aspects. Overall, Latvia’s transparent tax regime – 1.5% purchase tax and no
hidden fees – helps investors plan with confidence.
Q: Are there financing options or payment plans available for buyers?
A: Yes. Riga Waterfront offers an attractive payment plan for buyers, and financing through
banks is also available in many cases. The developer’s standard payment schedule for off-
plan purchases is a 20/80 plan, where you pay 20% of the purchase price through the
construction period and the remaining 80% upon completion and handover . This means you
don’t have to pay the bulk of the price until you receive your finished property, which
significantly eases cash flow during the building phase. In practice, your initial 20% is usually
broken into a smaller reservation fee (paid at signing the preliminary agreement) and the
balance at signing the notarized Sales Agreement, with no further payments until the project
is delivered.
Such buyer-friendly terms (80% on handover) demonstrate the developer’s
confidence and also allow investors to minimize capital tied up during construction.
In addition to the developer’s plan, mortgage financing in Latvia is accessible to both local
and foreign buyers. Local banks typically offer mortgages covering roughly 60–70% of the
property value, meaning a down payment of about 30–40% might be required. For EU citizens
or residents with local income, down payments can be as low as ~15% . Non-EU international
buyers can also obtain loans on a case-by-case basis – Latvian banks do lend to foreigners,
especially if you have verifiable income or assets, albeit usually asking for a larger down
payment (often 20–30% or more) . Interest rates in mid-2025 are around 5–6%, reflecting
general European rates , and loan terms can range up to 30 years depending on the bank and
borrower profile .
We can introduce you to banking partners familiar with financing Riga Waterfront purchases.
Many buyers opt to pay cash or use the 20/80 schedule without a mortgage, but if you prefer
to finance, it’s certainly an option. As always, credit approval will depend on your financial
circumstances, and having some ties to Latvia (such as a local bank account or business) can
strengthen your mortgage application . Our team will help guide you through available
financing routes so you can choose the best payment approach for your situation.Investment Benefits and Returns
Q: Is buying an apartment in Riga Waterfront a good investment? What returns can I expect?
A: Absolutely – investing in Riga Waterfront is a compelling opportunity, combining solid
financial returns with unique intangible benefits. Latvia currently offers some of the highest
rental yields in Europe, making property investment here particularly attractive . In Riga,
gross rental yields average around 5–7%, and can even reach ~8% or higher for well-located
premium properties . In fact, a recent study highlighted Latvia’s residential yield (8.47% gross)
as one of the top in Europe . This means if you rent out your apartment, you could see strong
income relative to the property price, outperforming many Western European capitals.
Additionally, Riga’s property values have shown steady capital appreciation of about 3–5%
per year in recent times . With Riga Waterfront being a flagship project (and supply of
comparable luxury property in central Riga being limited), there is significant potential for
price growth as the development progresses and the area becomes the city’s new upscale
hub. Early investors who buy now benefit from introductory pricing, and historically, early-
phase buyers in such large projects often see their property values rise as later phases
complete and the whole community flourishes (demand increases while prices step up with
each new launch) .
Beyond yields and appreciation, there are other investment benefits: owning real estate in
Latvia provides a tangible asset in an EU country with a stable economy and legal system.
You also diversify your portfolio into the Eurozone real estate market. Furthermore, Riga
Waterfront’s developer (Eagle Hills/Emaar) has a track record of creating landmark
destinations that tend to become magnets for tourism and business – this can drive up long-
term property values and rental demand due to the prestige and improved infrastructure an
project brings to the area . In the case of Riga Waterfront, the project is transforming a central
district with new parks, marinas, cultural venues and commercial centers, which will
undoubtedly make the neighborhood more desirable and spur further growth. Finally, there’s
an lifestyle value: even if you’re investing, you or your family can enjoy the property as a
vacation home in a beautiful European capital, gaining both personal enjoyment and financial
return.
In summary, Riga Waterfront is a sound investment on multiple fronts – strong rental income
potential, expected capital growth, and the cachet of being part of an exclusive waterfront
community. This is reinforced by the fact that demand for quality rentals in Riga is high and
housing supply in prime areas is limited, meaning you can rent out your unit quickly and
secure stable income if you choose . Coupled with the project’s unique offerings (no other
development of this scale in the region), investors are positioning themselves for excellent
medium- and long-term returns by purchasing at Riga Waterfront.
Q: Does purchasing property in Riga Waterfront qualify me for European residency (Latvia’s
“Golden Visa” program)?
A: Yes. Latvia offers a residency-by-investment program (often called a “Golden Visa”) and
buying at Riga Waterfront can make you eligible. Specifically, a minimum real estate purchase
of €250,000 in Latvia qualifies a non-EU buyer to apply for a temporary residence permit .
This means if you invest at least €250,000 in a Riga Waterfront apartment (most units meet
this threshold), you and your immediate family can obtain residency rights in Latvia, subject
to meeting the standard due diligence (e.g. background check, clean criminal record, health
insurance) . The residency permit is typically issued for 5 years (with renewal), and it grants
you the right to live in Latvia and travel visa-free throughout the Schengen Area (up to 90
days in any 180-day period) .
This is a major benefit for international investors: by securing an EU residence permit, you
gain flexibility to reside in a European country, access to local healthcare and education, and
the ability to eventually apply for permanent residency or even citizenship (after meeting
certain long-term requirements) . Latvia’s program is known to be straightforward and
efficient, often taking as little as 2–3 months to obtain the residence permit after the
property purchase and application submission . Another advantage is that Latvia’s required
investment (€250k) has historically been one of the more affordable Golden Visa thresholds
in Europe . There is no requirement to live in Latvia full-time to maintain the permit – you only
need to spend a minimum amount of time each year (currently just stays of a few days each
year) in the country .
Do note that government fees (and a one-time contribution of ~5% of the property value as a
state fee) apply for the residence permit application, and these processes are subject to
Latvia’s immigration laws which can change. Our team, in partnership with immigration legal
experts, will assist you through the Golden Visa application step by step, ensuring all
documentation is in order . Many Riga Waterfront buyers see the residency option as a
significant added value – not only do you get a luxury property, but also a pathway to EU
residence for you and your family. This can open doors to new business opportunities,
education in Europe for your children, and a safe European base. In short, by investing in Riga
Waterfront, you can secure a prime asset and European residency rights simultaneously – a
truly rewarding dual benefit .
Q: What is the long-term outlook for the Riga Waterfront investment?
A: The long-term outlook is very positive. Riga Waterfront is not just another development;
it’s an entire new district that will uplift the surrounding area and likely set new price
benchmarks in the Riga property market. Large master-planned projects tend to create theirown ecosystem of value – as each phase (residential, retail, office, etc.) is completed, the overall attractiveness of the location increases. We expect strong capital growth over the next decade as the project matures. Early investors who come in now are poised to benefit the most from this appreciation as the site evolves from construction to a fully functioning upscale community.
Moreover, Riga’s macro fundamentals support long-term value: Latvia has a stable, growing
economy and uses the Euro currency, providing confidence in the market’s stability. Riga is
increasingly on the map of international investors and expatriates, yet property prices here
are still lower than in Western European capitals – suggesting room for growth. With Riga
Waterfront’s unique scale and quality, there is essentially no direct competition in the local
market for a comparable living experience . This exclusivity should help maintain demand
(both from high-net-worth locals and foreign buyers) for properties in this project in the long
run.
Additionally, the project’s emphasis on sustainability and modern urban design is forward-
looking – features like energy-efficient buildings, ample green spaces, and infrastructure
improvements mean the community will remain attractive and resilient in the future. The
development is also expected to boost economic growth in Riga by attracting tourism, new
businesses, and upscale retail, which in turn enhances the value of real estate within it .
Finally, since the project is backed by Eagle Hills/Emaar, which retains a long-term interest in
the success of the community, we anticipate ongoing maintenance of high standards and
possibly professional property management services on-site to keep the development in top
shape. All these factors contribute to a very robust long-term investment outlook – owning a
part of Riga Waterfront is essentially owning a share of what will be Riga’s new premier
district, with all the enduring prestige and value that comes with it.
Practical Information for Buyers
Q: How can I get more information or schedule a viewing (in person or virtual)?
A: We encourage anyone interested to reach out – our dedicated sales team is ready to assist
with all inquiries. To schedule a viewing in person, you can contact us via phone or email (as
provided on our website) or simply drop by our Riga Waterfront Sales Center if you are in
town. We will arrange a private tour of our show apartment, model unit, or site showroom at a
time convenient for you. During the visit, a Property Advisor will walk you through the plans,
scale models, and finish options, and answer all your questions.
If you are overseas and unable to visit Riga immediately, we offer comprehensive virtualtours. Upon request, our agents can conduct a live video walk-through for you – showing the site location, views, sample apartment interiors, and the surrounding neighborhood in real time . We can also share high-resolution photos, floor plans, 3D renderings, and even virtual reality experiences of the apartments. Many international buyers have successfully used ou virtual viewing service to make informed decisions from abroad. We strive to provide as much
detail and transparency as possible so you feel as though you are on-site.
For more information, you can contact our sales representatives via phone, WhatsApp,
Telegram, or email – whichever is most convenient for you . We have multilingual staff
(including English, Russian, and Latvian speakers, among others) to cater to global clients.
Simply let us know your preferred communication channel and we will accommodate.
Whether you want pricing details, availability of specific unit types, or just a brochure and
fact sheet, we are here to provide prompt and personalized assistance. Our goal is to make
your discovery and buying process comfortable and well-informed, no matter where you are
in the world.
Q: Will there be support for managing my property if I don’t live in Latvia full-time?
A: Yes. We understand that many buyers are investors or future part-time residents, so after-
sales support and property management are a key part of our service. If you purchase in Riga
Waterfront but won’t be residing there year-round, you can take advantage of property
management services to look after your apartment. Our team can connect you with reputable
property management partners who will handle everything from finding and screening
tenants (if you wish to rent out your unit) to day-to-day maintenance, bill payments, and
periodic inspections of your property. Latvia has a well-developed rental market, and since
Riga Waterfront apartments are expected to be in high demand, having a local property
manager ensures you can earn rental income smoothly while having peace of mind that the
property is cared for. In fact, investing specifically to rent out the property is a popular
option in Riga, given strong housing demand – you can achieve stable long-term income this
way .
Even if you do not plan to rent out, our concierge services can assist absentee owners with
tasks such as cleaning, airing out the apartment, and preparing it for your visits. The
developer and its affiliates often offer concierge and maintenance services in their
communities, and Riga Waterfront will be no exception – the development is envisioned as a
fully managed community with a high service standard (including 24/7 security, reception in
many buildings, etc.). So, whether it’s renting out your unit or simply keeping it in top
condition while you’re away, you can rely on professional support. This way, you can enjoy the
benefits of ownership without the hassle: the property remains turn-key and well-
maintained, and any tenant or facility issues are handled on the ground by experts. We’recommitted to ensuring that owning a home in Riga Waterfront is a rewarding and worry-free
experience for international clients.
Q: Who will assist me throughout the buying process and after?
A: From the moment you express interest to long after you’ve received your keys, our team
will be by your side. You will be assigned a dedicated Property Advisor who will be your main
point of contact. This experienced professional will help you with unit selection, send you all
necessary information, and coordinate viewings. They’ll also guide you through signing the
reservation and Sales Agreements, making sure you understand all terms and are comfortable
at each step. If needed, they can recommend independent lawyers, banking contacts, or
interpreters to facilitate the transaction. During construction, our customer service team will
keep you updated on building progress and milestones.
When it’s time for handover, we assist with the inspection of your new home (ensuring any
minor issues are addressed by the developer) and with utilities setup and move-in
coordination. But our support doesn’t end there – we want to build a long-term relationship.
Post-handover, our after-sales support and/or the building’s management company will help
with any warranty questions, customization requests (like interior design or furnishing
packages), and property management needs as discussed. You’ll have access to a helpdesk
for any queries about your unit or the community facilities.
In short, you are not just buying bricks and mortar – you’re getting the support of a
professional, multilingual team with deep knowledge of the project and local market. We aim
to provide a seamless, white-glove service experience befitting a luxury development and our
high-net-worth clientele. From the initial inquiry to renting out your apartment or reselling it
in the future, you will have experts to advise and assist you. Your comfort and confidence are
our priorities, and we take pride in delivering a level of service that matches the world-class
nature of the Riga Waterfront development.