What are the requirements for housing immigrants in Latvia?

20 10, 1 July, Latvia's immigration law was amended and passed. Details are as follows:

Foreigners who buy real estate in Latvia can immediately obtain a Schengen residence permit valid for 5 years. Holders of this permit, spouses and children under the age of 18 can freely enter and stay in Schengen countries.

The application conditions shall meet one of the following requirements:

1. In Riga, the capital and other major cities, the amount required for purchasing real estate is not less than 654.38 million lats (about/kloc-0.43 million euros,/kloc-0.40 million yuan).

2. Outside major cities, the amount required for purchasing real estate is not less than 50,000 lats (about 710.5 million euros, 700,000 RMB).

3. Latvian banks deposit 300,000 euros or 400,000 dollars in five-year time deposits.