Updated November 2026

How to negotiate the property price in Latvia

The asking price is rarely final. Your best argument is facts: what similar flats in the area actually sold for, not what they are listed at.

  • Asking price check
  • A written offer
  • Earnest money and the Land Register
Check the asking priceWrite an offer

By the TopMakleri.lv editorial team

A new apartment tower against a blue sky
  1. 1Compare the asking price with the registered deal prices per square metre in the area, not just with other listings.
  2. 2Cadastral value is not market value: it is the base for tax and the state duty, not the price the flat would sell for.
  3. 3Make the offer in writing, with reasons and conditions: financing and a clean Land Register folio.
  4. 4Earnest money binds both sides: if the deal fails through the buyer's fault, the buyer loses it; through the seller's fault, the seller pays back double.
1

Know the area's real price level

A strong offer is built on facts, not feeling. Listings show the asking price, but the sale price is often lower. The State Land Service (VZD) records property purchase prices, so compare the asking price per square metre with what similar flats in the same area and a similar building actually sold for.

You will find registered deal prices by area on the price map and in the property market report. The cadastral value you see in the cadastre data or on your tax notice is not market value: it serves real estate tax and the state duty, not pricing.

Is the asking price fair?

This flat —

Rīga median 2,683 €/m²

Enter the asking price and floor area.

The median is based on flats listed for sale, so on asking prices. Registered deal prices by area and building: Rīga prices.

2

Find your leverage

A property's flaws are arguments, not just downsides. Unavoidable repairs, old plumbing or wiring, high maintenance charges, a building renovation loan, or a layout that does not match the cadastral survey file are legitimate reasons for a lower offer.

Old roofs and facades

  • How long has it been listed, and has the price already been cut? (A long-listed property often means a more flexible seller.)

  • What repairs are unavoidable soon, in the flat or the whole building? Ask the building manager or the owners’ association.

  • Is the seller in a hurry (already bought a new home, moving, inheritance)?

  • Have similar flats in the same area sold below the asking price?

3

Make a grounded offer in writing

Don't open insultingly low: it can end the conversation before it starts. Make a reasonable offer backed by facts (the area's deal prices, the property's flaws) and leave a little room to meet in the middle. A written offer with a deadline and conditions is taken more seriously. If a real estate agent is involved, put the offer through them, but remember that an agent hired by the seller represents the seller.

Your arguments

Conditions

Your offer

Hello,

I would like to offer €[price] for the flat at [address].

Conditions:
– The offer is conditional on my bank granting a mortgage.
– The offer is conditional on no mortgages, prohibitions or other encumbrances remaining in the Land Register by the deal.

The offer is valid for 7 days. I am open to discussing the price.

Kind regards

Send it to the seller or their agent by e-mail so the offer stays on record in writing.

4

After you agree: earnest money, conditions and the Land Register

A few careful steps remain between agreeing the price and the deal.

What earnest money means

  • The buyer backs out or fails to perform through their own fault

    The buyer loses the earnest money: —

  • The seller backs out or fails to perform through their own fault

    The seller returns double: —

  • The parties agree to cancel, or performance becomes impossible without the buyer's fault

    The earnest money goes back to the buyer: —

  • The deal goes ahead

    The earnest money counts towards the price: —

Under Articles 1725–1731 of the Civil Law. The party at fault also owes damages. The agreement can set other terms, so write conditions such as a loan refusal into it.

  1. 1

    Under the Civil Law, earnest money (rokasnauda) confirms that the contract is concluded and secures its performance. If the deal falls through because of the buyer, the buyer loses it; if because of the seller, the seller returns it double. If both sides agree to cancel, it is returned.

  2. 2

    Write conditions into the earnest-money agreement: if the bank does not grant the loan or the Land Register shows encumbrances, the earnest money is returned.

    Getting ready for a mortgage →
  3. 3

    Check the owner, mortgages, prohibitions and other encumbrances in the Land Register, and whether the seller's loan will be paid off from the purchase price.

    zemesgramata.lv ↗
  4. 4

    Agree what stays in the flat (kitchen units, appliances) and when the keys change hands.

  5. 5

    The purchase contract can be a written contract or a notarial deed; a notary certifies the signatures on the corroboration request. For payment, use a notary deposit or a bank escrow account, from which the seller is paid once you are entered in the Land Register.

    First-time buyer guide →

Before you make an offer, check the flat and the building: what to check when buying an apartment.

Selling your current home before you buy?

See what your home is worth right now. No account needed.

Frequently asked questions

How much can you usually negotiate off in Latvia?

There's no fixed percentage: it depends on the area, the property and the seller's motivation. Your strongest lever is facts: the area's registered deal prices per square metre and the property's specific flaws. A well-grounded offer gives the best result.

How do I know if the asking price is fair?

Compare the price per square metre with the registered deal prices of similar flats in the same area (on the price map and in the market report) and factor in condition, floor and building series. A big gap from the area level needs a reason.

Should I make the offer in writing?

Yes. A written, reasoned offer is taken more seriously and gives a clear starting point for negotiation.

What happens to the earnest money if the deal falls through?

Under the Civil Law: if the contract is not performed through the fault of the giver (usually the buyer), the giver loses it; through the fault of the receiver (the seller), the receiver returns it double, and the party at fault also owes damages. If the parties agree to cancel, or performance becomes impossible without the giver's fault, it is returned. So write conditions such as a loan refusal into the agreement.

How much earnest money should I pay?

The law does not set an amount: the parties agree it. Earnest money can also be something of value other than cash, but only handing it over creates the right, not a promise.

Is the cadastral value the same as market value?

No. The cadastral value is set by the state and is used for real estate tax and as the state duty base when it is higher than the purchase price. The registered deal prices in the area show market value better.

What if the seller rejects my offer?

Ask what price they would accept and compare it with the local price level. You can make a new offer or stand by your price if the facts support it.

Does the agent represent the seller or the buyer?

If the seller hired the agent, the agent represents the seller's interests. As a buyer, make your offer through the agent, but rely on your own numbers.

Sources

This is general information, not legal or financial advice; for exact terms rely on the notary, your bank and official sources.

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