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Baltic Real Estate Market - Ups, Downs and Recovery. Saint Petersburg September 30th, 2011 Mr. Edgars Shins President of LANIDA CEO of LATIO Ltd. Latvia. Baltic States. A gate between East and West. ESTONIA. Tallin. Population – 414 , 353 people Residential sq.m –

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Baltic real estate market ups downs and recovery

Baltic Real Estate Market -Ups, Downs and Recovery

Saint Petersburg

September 30th, 2011

Mr. Edgars Shins

President of LANIDA

CEO of LATIO Ltd.

Latvia


Baltic states
Baltic States

A gate between East and West



Tallin
Tallin

Population –

414,353 people

Residential sq.m –

ca. 11.05 million

Commercial sq.m –

ca. 480,000


Price drop in tallin
Price drop in Tallin

From the beginning of the Real Estate crisis in 2007 prices have fallen in Tallinn by

41.4%


Sales price of apartments and sales volumes in tallinn and harju county between 2 004 and 201 1
Sales price of apartments and sales volumes in Tallinn and Harju county between2004 and 2011




Riga

  • Population – 703,581

    people

  • Residential sq.m –

    25,177,800

  • Commercial sq.m –

    52,450,000


Major price drop in the world
Major price drop in the world

From the beginning of the

Real Estate crisis in 2007

prices have fallen by

75%


Fastest and highest price increase in the world
Fastest and highest price increase in the world

Between spring 2010 and spring 2011 in Latvia itwas the fastest and highest housing price growth in the world throughout the year

19.09%

From that moment till summer 2011 – “stagnation”

in real estate market


Sales price of standard type apartments and sales volumes in riga between 2 004 and 201 1
Sales price of standard-type apartments and sales volumes in Riga between 2004 and 2011


Quantity of transactions with the real estate registered with the Land Registry(areaof a land parcel 1,500-5,000 sq.m.)


Number of real estate bought in latvia by foreign citizens between 2 009 2011
Number of real estate bought in Latvia by foreigncitizensbetween2009-2011



Vilnius
Vilnius

Population – 539,000

people

Residential – 14,093 thous. sq.m

(227,756 privately owned flats)

only 564 new apartments in 2010;

750 expected to be built in 2011

Commercial – A and B class –

total 441,000 sq.m

Retail - 417,600 sq.m


Price drop in vilnius
Price drop in Vilnius

From the beginning of the

Real Estate crisis in 2007

prices in Vilnius for residential RE

have fallen by

~39%


Price increase in vilnius
Price increase in Vilnius

Between spring 2010 and spring 2011 in Vilnius was “sustainable” housing price growth throughout the year

5%






How many years does it take to save the money for purchase of an apartment of 70 sq m
How many yearsdoesit taketo save the money for purchase of an apartment of 70 sq.m?


The average rent price in shopping centers
The average rent pricein shopping centers


Thank you for your attention!

Mr. Edgars Shins

President of LANIDA

CEO of LATIO Ltd.

Latvia

Tel. +371 29205677

[email protected]

[email protected]

[email protected]


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