Property experts project an Annual rate of return of :
8.00%
the return on your investment in one year:
€4,483
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This 4-storey apartment building is ideally located just ten minutes drive from the city centre in the relatively affluent neighborhood of Zolitude. The district, just west of the River Daugava, is popular with upwardly mobile middle-income professionals and families and has witnessed some of the fastest growing prices in the Baltic. In the first half of 2005, one bedroom apartments in Zolitude increased in value by 35%; a figure eclipsed by two bedroom apartments which experienced increases of 37% over the same period.
The popularity of the area is underlined by the speed with which two similar residential developments in nearby Priedaines Iela and Anninmuizas Iela sold out; both over six months before the foundations had been completed. From an investment perspective, it is comforting to note that in both instances there was strong demand from the local market.
The properties
The project offers 53 apartments with a good mix of one, two and three bedrooms and prices start from £800 per square meter. They range in size from 38-124 m² (410-1,335 sq. feet) and the majorities have balconies, some of which overlook an area of woody parkland. A number of the ground floor apartments also have substantial private terraced areas. The centre-piece of the property is a large south-facing terrace with gardens and a children’s play area. The parkland can be accessed directly from the terrace.
Each apartment has its own door intercom system and the building is equipped with modern lifts. There is an underground garage (directly accessible via the lifts) with 38 parking spaces. Allocated spaces can be purchased with a one-off additional payment. Given the winter temperatures in Latvia, it is unsurprising that potential tenants will see this as a major asset.
The entire site is covered by 24 hour video surveillance to ensure the personal safety of the inhabitants and to safeguard your investment.
The apartments are available with either ‘white’, standard or superior interior finish. Heating and air conditioning are included in the price of all apartments.
