Latvia
City of Riga
Package of apartments with guaranteed income
An offer for investors with the possibility of obtaining a residence permit in the EU
for the investor and his family!
Guaranteed rental income!
A package of at least 4 apartments in a renovated residential building in the historical center of Riga.
Start of reconstruction - October 2015, commissioning - April 2016
The building was built at the beginning of the last century, is located in a unique place - in the historical center of Riga with its unique spirit, tranquility, regularity and convenience of life. Nearby there are all necessary infrastructure facilities: public transport stops, shops, cafes, restaurants, pharmacies, etc. A 5-minute walk away there is a guarded covered Parking. The Old Town is only a 15-minute walk away.
The reconstruction project provides for a complete renovation of a residential building with 12 designer apartments of different sizes.
Total usable area of the building: 540m2
The area of the apartments is from 30m2 to 69m2
The package sale price includes:
- apartments (at least 4) with designer interiors, furniture and all necessary appliances,
- individual meters for heat, water and electricity,
- assistance in obtaining a residence permit in the EU for the investor and his family members,
- assistance in obtaining a mortgage loan from a bank
with an interest rate of 4% per annum.
The building will be completely renovated by the time of commissioning, with interior design finishing of the premises, new communications, new plumbing, new wiring, central heating system.
The cost of a package of 4 apartments: 214,400€
Guaranteed rental options:
1. long-term lease - guaranteed net income of 5.8% per annum
2. transfer of apartments to management - guaranteed net income of 7.1% per annum
It is still possible to transfer apartments to a management company for short-term rental. In this case, there is no guarantee of income, but calculations show that when loading 70% per year, net income is 11.9%, taking into account all management costs and taxes.
Payment plan:
1. 30% - deposit money agreement, when booking;
2. 40% - the building has been renovated, communications have been laid, apartments have been redeveloped, "gray" finishing has been done;
3. 20% - the apartment is fully finished, plumbing and fixtures are installed;
4. 10% - the apartment is fully equipped with household appliances and furniture, ready for rent.
The apartments are transferred to full ownership with the entry of the investor's rights in the State Land Register.
The management company, which is ready to take apartments for management and for short-term rent, has extensive experience in renting apartments, the whole process is debugged and does not bring any additional worries to the investor.
The liquidity of apartments in this area is high, the annual price growth is 3-5%
The cost of a package of 4 apartments: 214,400€
