OÜ MAUREN
Laki 25, Tallinn
12915 Estonia |
Phone: +372 65 65 396
Fax: +372 65 65 397
e-mail: mauren@mauren.ee |
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A good investment
An apartment in Tallinn
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INVESTMENT FLAT IN TALLINN
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Background
Tallinn is an attractive
place for investing in flats: the city grows fast and becomes richer,
the prices of flats yet amount to approximately 35–40% of the prices in
Helsinki; the Estonian economy develops rapidly and the prices of flats
may be expected to increase much faster than for example in Finland or in
Central Europe.
The foreign exchange risk accompanying investments is insignificant,
as the Estonian kroon has been pegged to the euro at a fixed rate for a
long time. After an EU referendum, the euro will be adopted as the
Estonian official currency around 2010.
Many new flats have been built in Tallinn, and many old flats have
been renovated. As a result, about 400–500 new or excellently
renovated apartments are currently unused and waiting for tenants. Finding
tenants may be a time-consuming process, where much depends on the
location, condition, interior design level of the flat, and on the rental,
etc. Even if the waiting time turns out to be longer than expected, the
eventual rate of return will reflect the annual considerable increase in
prices.
Investment
flat
To avoid the possibility that your flat
could be one of those empty properties that has to wait for a tenant over
a long time, we have developed a new concept, “an investment flat”
on the Tallinn market during the past three years. Naturally, all flats
may be called investment flats; however, we wish to make a distinction
between “an ordinary investment flat” and “an excellent investment
flat”.
Objective
An excellent investment flat is aimed at
earning a higher annual return and a higher resale price, if the owner
wishes to sell the property.
Achieving the objective
A higher return is achieved thanks to the
rental that is slightly higher than the average rental on the market and
short waiting periods before finding tenants.
How to achieve the
objective?
An excellent investment flat usually is a
combination of several minor and major factors. There is no hocus-pocus
involved. The aim is not to include such a flat among the 500 flats
available on the market but to include it in the very top 50. This cannot
be achieved by loads of money but knowledgeable planning and reasonable
implementation of the plans. The process starts from the careful selection
of the location and ends with the correct placement of the last socket in
the flat. You need on average one year to build a new flat into an
investment flat, in the case of a flat that has already a history, you
will need at least half a year.
Turnkey solutions
We can offer you an investment flat as a
turnkey solution together with finding a tenant; or alternatively, we will
do a part of the work and you will do the remaining part.
How much?
Our fees depend on the work volume but our
prices for such services are very reasonable.
Are you interested?
We will be glad to provide any additional
information at Seppo@mauren.ee
or +37255646474
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