What land we value
We value individual building plots, agricultural land, forest land, commercial and industrial building land, as well as land under existing buildings. A valuation is needed for a mortgage loan, a purchase or sale, division of inheritance, land exchange, justifying rent, and court proceedings.
Land is also often valued because the owner wants to know whether it's more worthwhile to sell it as a single plot or divide it up.
What documents we will need
- Land Register certificate for the plot
- Plan of the land's boundaries, layout and encumbrances
- Cadastre extract on the land's use type
- Extract or information on the use permitted under the local territorial plan
- Information on connections: electricity, water, gas, road access
- For agricultural land, details on soil quality and any leasing
- For forest land, forest inventory data, if available
How the process works
We respond to enquiries within 2 hours, arrange a time to view the property and agree on a deadline for the valuation. The valuer inspects the plot, checks the boundaries on the ground, access, terrain and actual use, then analyses the territorial plan and comparable land transactions in the relevant municipality.
For land outside Riga, we plan the site visit together with you, so the travel time and cost are clear in advance.
What affects the value of land
- Permitted use and building density under the territorial plan
- Size, shape, terrain and potential for subdivision
- Presence and quality of an access road
- Availability of utility connections and connection costs
- Encumbrances, easements, protection zones and flood risk
- For agricultural land, soil quality and the shape of the fields
- For forest land, tree species, age and available felling schedule
- Actual transactions for similar land in the same area
A valuation banks accept
We prepare valuations in accordance with the LVS-401 standard, and they are accepted by the major Latvian banks, including SEB, Luminor and Bigbank, as well as other leasing companies and financial institutions.
What to check before buying land
Before buying land, it's worth confirming that the intended use is permitted. A beautiful meadow doesn't necessarily mean you can build a house there, and commercial building land doesn't always allow you to construct a factory. It's also important to understand what an electricity connection, a well and building the road will cost, since these sums can be comparable to the price of the land itself.
Encumbrances often come as a surprise: a gas pipeline protection zone, a land drainage ditch, an easement road, or a flood-prone area. These are described in the valuation, so the document also serves as an objective basis for price negotiations.
Why clients choose PRO MOTION
The land market varies enormously between Latvia's municipalities, and sometimes the nearest comparable transaction took place several kilometres away or several months ago. Our valuers work across all of Latvia and explain how the specific transactions were selected and adjusted.
We respond to enquiries within 2 hours and immediately tell you which documents will be needed for your specific plot. If a document is missing, we help you understand where to obtain it.