In 2026, €5.5 million from the budget of the Ministry of Economics (EM) will be allocated to support large families under the “Balsts” program, aiming to reduce housing costs and assist with the purchase or construction of residential property.
Under the “Balsts” housing subsidy program, implemented by the Development Finance Institution ALTUM, a total of 2,454 subsidies worth €20.7 million had been granted by 30 November 2025. Banks have provided loans amounting to €215.8 million for home purchases with the help of subsidies for large families and families with a child with disabilities.
Demand for the “Balsts” subsidy continues to grow steadily – in 2024, 509 families received support, 47% more than the previous year, and by 30 November 2025, 618 families had already received support. At the same time, the volume of bank financing has also increased significantly – loans in 2025 amounted to €59.7 million, 53% more than in the same period last year.
“The ‘Balsts’ program is an investment in Latvia’s future because by helping large families acquire their own home, we reduce their financial burden, allowing them to allocate funds for the development of their children. We see strong interest in this program, which shows that the support provided is a significant incentive to improve quality of life. Strong and secure families are the foundation of our country’s sustainability and development,” emphasizes Minister of Economics Viktors Valainis.
The goal of the program is to reduce the amount of bank loans needed for home purchase or construction for large families, thereby addressing the issue of access to a first home.
Families from all over Latvia have received support. In Riga and the surrounding region, 67% of all granted subsidies were allocated, 10% in Zemgale and Vidzeme, 9% in Kurzeme, and 4% in Latgale.
The “Balsts” subsidy is state support to reduce the down payment on a bank loan for home purchase or construction for large families and families with a child with disabilities. The program has been in place since autumn 2020 and is a one-time grant. The amount depends on the number of children: €8,000 for three children (or two children with a third expected), €10,000 for four or more children (or three children with a fourth expected). The subsidy increases by €2,000 if the intended home is an almost zero-energy building.
Additionally, families with a minor child with a disability or an adult with disability group I or II under 24 years of age can receive a subsidy of €8,000.
Eligibility requirements for the subsidy include:
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obtaining a bank loan for home purchase or construction;
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having at least three children (or two children with a third expected), or at least one minor child with a disability, or an adult under 24 with disability group I or II;
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the recipient does not own another residential property (house, apartment, summer house);
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the family’s total income per family member in the previous tax year does not exceed €23,000 gross;
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the recipient has been a taxpayer in Latvia for the past 12 months;
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the subsidy does not exceed 50% of the transaction amount (up to €300,000);
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the subsidy has not been received previously.
On 4 December, the Saeima adopted the 2026 budget in the second and final reading. In the EM budget, expenditures of €182 million were approved, including €115.1 million for core state functions and €66.9 million for foreign aid projects. The majority of the budget – €152.1 million – is allocated to various support measures to enhance business competitiveness and economic growth, namely to attract investments, support innovations, and promote export capacity of companies.