During a Cabinet of Ministers meeting, amendments proposed by the Ministry of Justice to Cabinet of Ministers Regulation No. 1250 of 27 October 2009 'Regulations on the State fee for the registration of ownership and mortgage rights in the Land Register' , were approved, which provide for the easing of property rights registration from 1 July 2021 by reducing the percentage rate of the state fee for the registration of property rights in the Land Register in specific cases of disposal for individuals and legal entities.

Going forward, the Land Register fee for individuals will be reduced from the current 2% to 1.5% of the property value, while for legal entities, the fee for the registration of apartment property will be reduced from 6% to 2% of the property value.

Minister of Economics Jānis Vitenbergs: “The changes to the Cabinet of Ministers regulations approved today will contribute to an increase in the competitiveness of Latvia’s real estate market. The reduction in Land Register fees will also benefit society as a whole by lowering the costs associated with purchasing property. On behalf of the Ministry of Economics, I express my satisfaction that the new regulation, alongside the new rental market regulation, will promote the construction of new housing in Latvia, where we still lag significantly behind both Estonia and Lithuania in terms of construction volumes.”