According to statistics from the State Land Service, since the regulations regarding the granting of residence permits based on the acquisition of real estate came into force, almost 500 million Lats have been invested in Latvia. According to reports from the Office of Citizenship and Migration Affairs, only 3.4% of applications based on real estate were denied, and all of these were due to the provision of false information during the application process or for other exclusions which are listed in the official regulations which meant that the investor did not originally qualify to apply. (source: http://www.immigration-residency.eu/residence-permit-latvia/ )