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Introduction

Latvia has borders with Russia, Belarus, Estonia and Lithuania and was admitted into the European Union in May 2004. 

The country is divided into four major regions, which are - Zemgale, Vidzeme, Kurzeme and Latgale. Latgale and Vidzeme lie to the East of the country and are home to the Gauja National Park. Kurzeme is west of Riga and has over 300 kilometres of coastline as well as the Slitere National Park. Zemgale, in the South, mainly consists of arable farmland.

Latvia has an enviable economy, at one time in 2004 it had the highest Gross Domestic Product of any European nation at 8.5% and the country has not looked back since admission into the EU.

Riga is the capital and economic centre of Latvia and almost one third of the entire population of Latvia live in Riga.

Experts suggest that property in Riga is still undervalued compared with other European capital cities even though many property owners in the city have recently seen annual price increases of 30%. This can be further supported by the sustained intervention by the Latvian government to divert funds towards improving the Latvian infrastructure.

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