Analytics, Baltic, Latvia, Real Estate

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 12:46

Apartment prices in Riga are on average about 33% cheaper than in Tallinn or Vilnius

Galina Molochkova, BC, 19.08.2016.Print version
Crowdestate.eu, the leading Nordic real estate crowdfunding platform, will publish its first Latvian investment opportunity on Friday morning. A 2 - year subordinated loan will be paying 15% annual interest to its investors, reports BC Crowdestate.eu representatives.

The average apartment prices in Riga are on average about 33% cheaper than in Tallinn or Vilnius. The housing affordability index that takes into account the net income of families, shows that new apartments are much more affordable in Riga than they are in Vilnius or Tallinn.

 

The net salary levels in Latvia are today about 27% higher than the peak achieved before the 2008 financial crisis. Total loan amounts issued by banks for house purchase have constantly been growing over the last several years in Vilnius and Tallinn and are today about 200m EUR higher than they were at the peak. Meanwhile, loan amounts in Latvia have been in steady decline and stand today at 2,7 billion EUR lower compared to the level in 2008. This drop has stabilized in the past months and banks expect the loan amounts to start growing significantly in the coming years.

 

Crowdestate.eu is a real estate crowdfunding platform, offering pre-vetted real estate investment opportunities to its ca 10 000 members. Crowdestate has funded more than 20 investment opportunities and exited from 5 investments so far, producing 12 – 48% annual returns to its investors. Minimum investment is only 100 euros, making professional real estate investment opportunities available to everyone.

 






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