In Latvia, there is an increase in scams involving apartments, particularly through private transactions without notarial involvement, prompting calls for greater reliance on notaries.
In Latvia, the alarming trend of apartment scams continues to escalate, particularly in cases where private transactions are conducted without the involvement of a notary. Scammers are increasingly targeting not only bank data and money but also real estate, leading to significant financial losses for unsuspecting individuals. Legal experts emphasize that the highest risks are associated with privately signed property sale agreements, which often lack adequate safeguards against fraudulent activities.
The necessity of engaging a notary in real estate transactions is underscored by recent incidents where several apartments have been exploited through scams. Notaries act as gatekeepers who can identify potential 'red flags' in transactions; however, many individuals express a distrust towards notaries, often opting to proceed without their guidance, which decreases their chances of protecting their property investment. Aigars Kaupe, a legal expert, points out that even though notaries have been advocating for heightened awareness about these risks for years, they are often unable to prevent the scams from occurring without the involvement of the parties needing their help.
Looking ahead, the Ministry of Justice in Latvia is reportedly working on possible solutions to address these ongoing issues, but the situation remains concerning, as the frequency of such scams continues to rise. A community initiative called Notary Day, scheduled for March 5, 2026, aims to provide free legal consultations, offering an opportunity for individuals to seek guidance and protect themselves against potential real estate fraud. Such measures could enhance public trust in notaries and help combat the rising trend of apartment scams in the country.
