Roja Development (guaranteed 7.5% net yield)

Better than keeping your money in the bank!

For an 'all in' one off purchase price of only 12,840 Lats (18,250 Euros) approximately £16,250 GBP, we can offer the purchase, refurbishment and furnishing 
of a two room (one bedroom) 49 m2 apartment in the seaside town of Roja.

This is not a deposit or down payment, this is the
fully inclusive purchase price giving you outright legal ownership and covers all buying costs and government taxes. The only extra being annual property insurance of about 60 Lats.

Roja is a very popular seaside town and it is possible to rent this apartment in the summer months for 130/140 Lats/month and in the winter months for 75/90 Lats/month. (Rental prices in 2007/8 were 25% higher!) It is within walking distance of the unspoilt beach and town centre where all facilities are available including a medical centre. You could even spend a few weeks holiday here yourself!

We are so confident of these rental prices that we will guarantee an income of 80 Lats/month (114 Euros, approx. £100 GBP) for two years from these apartments including all management costs.

This is a guaranteed net return of 7.5% on your investment for the first two years, with the prospect of an increased yield after two years. You also have the added bonus of capital appreciation on the apartment. We believe this will be a very respectable percentage over the next two to five years.

After two years, we are confident rents will have increased and we may be able to offer a further period of guaranteed income.

Because of the extremely low cost, local buyers are being given priority over foreign buyers, but we have an option to buy four two room apartments with the possibility of adding a three room and four room apartment depending on local demand.

Sorry this development is no longer available to foreign investors

Again for an 'all in' one off purchase price of only 15,800 Lats (22,500 Euros) approximately £19,900 GBP we can offer
the purchase, refurbishment and furnishing of a two room
(one bedroom) apartment in the Imanta district of Riga.

This is not a deposit or down payment, this is the
full purchase price giving you outright legal ownership and covers all buying costs and government taxes. Just add annual property insurance of about 70 Lats.

Imanta is a very popular residential area of Riga where demand for cheap rental accomodation is high and even in these troubled times it is easy to find tenants. It is possible to rent these apartments for 90/110 Lats/month. (Rental prices in 2007/8 were 40% higher!) Imanta is 15 minutes by tram or bus to the centre of Riga.

The majority of these apartments were built in the 70's. The government is beginning an external insulation programme (courtesy of EU) for most of these buildings, showing that their life expectancy is good. We are only buying where this programme is going ahead and where lifts (elevators) are continuing to be maintained. We buy apartments in poor internal condition needing a full refurb, thereby adding value and speeding rental.