Buying an apartment is one of the biggest investments in life – it is not only about choosing a new home, but also making a long-term financial decision that will affect your future safety and stability.
The Consumer Rights Protection Centre (CRPC) reminds consumers of the key aspects to consider when purchasing an apartment:
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Check whether the property is being sold by a private individual, a developer, or a legal entity, as well as the property’s status and ownership rights.
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Assess the technical condition of the property and the overall quality of the building.
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Compare offers from different mortgage service providers.
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Carefully review the terms of the purchase contract.
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Find out what obligations and expenses will apply after acquiring the apartment.
Since consumers frequently raise questions related to apartment purchases – such as the fairness of contract terms or the technical condition of buildings – CRPC has prepared a comprehensive set of guidelines for apartment buyers. The development of these guidelines also involved the Ministry of Economics, the State Construction Control Bureau, and the Riga City Council’s Urban Development Department.
You can access the prepared guidelines HERE.
CRPC calls on consumers to stay informed and responsible, because buying an apartment is not just a purchase – it is a strategic and legally significant decision where mistakes can become very costly.