Residency hike prices chinese investors out of latvia

A hike in the cost of residency permits is pricing Chinese investors out of Latvia's property market.

Chinese buyers are increasingly active in global real estate investment, especially in countries such as Portugal, where "golden visa" schemes offer residence in exchange for the right property payment.

In Latvia, Chinese buyers were snapping up €70,000 properties to obtain permits, but Mihails Parinovs, head of Latvia's Padva, Parinov un Partneri law firm, tells BQ Live that amendments to the law - raising the required threshold to €250,000 - has priced buyers out of the market.