Real estate of the Baltic States

Like more recently Baltic coast it would seem to the extremely tempting only to the European inhabitants of the countries with a similar climate: to neighbours in the sea — to Scandinavians and citizens of Foggy Albion. However falling of the prices for real estate promptly squeezes out the European competitor and even more often redirects advertising messages to Russians. Analysts of real estate assert that our fellow citizens did not remain are deaf to tempting offers and apartments and houses are actively bought. Seducement of the Baltic square metres is caused by four powerful factors. First of all seizing in the countries Shengena prestigiously in itself. The second reason — alleviating of reception of the right to entrance. The third factor — general falling of the prices for the European real estate. And the fourth: Baltic offers rather attractive conditions of transactions with real estate.


Latvia

It is curious that national experts in the reviews compete, convincing what in their country of the price have fallen that is called, below a plinth. Than also provoke new waves of interest. We will begin with Latvia. Latvia, and it is equal both Estonia, and Lithuania, is still considered not as a place for constant residing, and as a country summer residence. Resort areas near Riga, widely advertised Jurmala, and also Ventspils, Liepaja, Saliena are most claimed. City quarters involve not only exclusive historical building, but also new affairs. The country real estate is the earth and the constructions erected by it, apartments, townhouses, cottages and the real rights to the earth. For non-residents there are restrictions: it is impossible to buy in the property the lands located in the state borders, at coast of gulf of Riga and in dunes to a zone of Baltic sea. But it is possible to purchase some houses or apartments. And despite crisis, the Latvian banks are ready to give a mortgage loan to the foreigners acquiring real estate in the country. And interest rates remain at pre-crisis level.

In Latvia in the price of the object exposed on sale, we will admit apartments, everything is included, including the on-door speakerphone, phone, counters, the sanitary technician, doors, a parking space. That is the Russian practice of sale of a concrete box as ready apartment somehow has not got accustomed. Since 2007, after signing by the country of the Schengen agreement, proprietors of real estate with spouses and minor children receive the Schengen visa on the basis of a presentation of the certificate on the property. There is a nuance limiting appetites of speculators. Having purchased real estate, it is better not to hasten with resale, having waited at least year, the tax at a rate of 25 % from a difference between the paid and received sum differently threatens. Investors understand that crisis — the phenomenon not eternal and cost of the Latvian real estate sometime will start to grow, therefore the today's delicious prices should push to purchasing.

The statement on acquisition of object of real estate is considered no more than 20 days. The tax to seizing constitutes 1 % from cadastral cost. Since 2011 the tax will 0,4 % plus the rate established by self-government institutions which not can exceed 0,6 % of cadastral cost. Are not assessed with the apartment real estate tax in apartment houses. Latvia even during the crisis period has managed to warm up interest to country real estate. A phenomenon of a country way of life — Amattsiems causing associations with Kampanelloj by that is named by founders «the Sun City». The settlement on ecologically faultless three hundred houses erected under individual projects among lakes and wood hills, differs absence of fences, a prohibition on dogs paddock, start of petards and use motorized water means of transportation. On settlement foxes, hares and venison freely walk about. Each private residence is located on a site of the earth of 0,4-1,3 hectares and waters, and equipped by all communications, up to the high-speed Internet. Cost of all this magnificence — from 100 to 145 thousand euro. So, the basic motives of purchasing of the Latvian real estate: rest, the Schengen visa, investments (a lease revenue in inter-season period and expectation of the best times), interests of business. According to the experts, both local residents, and Russians though show interest to acquire real estate do not hurry up. Both those and others wait, when the prices will reach in falling of the lowest point.


Lithuania

In spite of the fact that in the beginning of this year the tourist's flow of Russians to Lithuania has exceeded for the first time quantity of visitings by them Germany, this Baltic country still loses to neighbours in the sea in a visa regime. Latvia and Estonia, wishing to involve the Russian purses, began to give out annual multivisas. Lithuania persistently arranges only unitary visas under visit dates that should aggravate a crisis collapse. Anyway, Lithuania does not lower a hand and stakes on ethnographic tourism. The Lithuanian travel agencies advertised the routes showing tourists the sights of central and northern areas of the country. The big role in attraction visitors is played by history of local crafts.

For today Lithuania is a high-grade member of the European union and the participant of the Schengen agreement. The consulate of Lithuania gives out Schengen visas with the right of visiting of any country — the participant of the union but provided that Lithuania will be or the first country of entrance, or the basic purpose country. To request the constant annual visa, it is necessary to have a real estate minimum in Lithuania — 14 sq. m of a floor space on each job seeker of the visa, otherwise, purchasing of two-room apartment will provide to a family reception of the reusable Schengen visa. Real estate purchasing in Lithuania in the conditions of crisis, whatever one may do, — the investment. Among the most demanded objects — manors, houses with sites near coniferous woods or lakes. To purchasing large historical estates are offered also. Appeal raises by that fact that the buyer has an opportunity to use structural funds of EUROPEAN ECONOMIC COMMUNITY for reconstruction, restoration of some parts of buildings, manors or financing of commercial objects. For this reason historical "stuff" can appear subsequently favourable business, considering that fact that rent of objects of a heritage of history under weddings, banquets or simply rest is rather popular in the local market of services.

To non-residents there can be granted credits and some indulgences in the decision of agrarian questions — as to physical persons, and at registration of the enterprises in Lithuania. To arrange the transaction at purchasing of cheap real estate it is possible without driving at all to the country, — under notarially certified documents. Term of registration about seven days, the transaction is performed within days. For acquisition of real estate from documents the international passport is required only. Cost of sites, country houses, apartments — approximately same, as well as in neighbouring countries. The two-storeyed brick house the area of 280 sq. m near to Vilnius can pull almost on 800 thousand euro. And a two-storeyed ecological felling on the bank of lake — on 90 thousand euro. The same and with apartments. Two-room with the quite good layout in Vilnius, Palange go Druskininkae can cost from 38 to 150 thousand euro.


Estonia

Perhaps, it is the most modest in a three of the Baltic States Estonia looks. Not because it is the most worse, that is why that reputation is irreversible is impaired a little by turns lasting many hours on border and, unfortunately, destructive attacks to Russia. Last five years Estonian trust fund of development of business (EAS) has spent more than 200 million crones for country advertising as tourist, but these efforts have been impaired rather a little by political ambitions of Estonian state. As Estonians consider, at the best Russian from Petersburg which come to Narva and on Chudsky lake in the summer will become interested in their objects. Also assert that it would be reasonable to reorient advertising from Europe on Russia. Estonia is included into a three of not most corrupted countries, but the prices for real estate and the earth there promptly fall. In Tallinn for last year cost of one square metre has lost 13 %, in Pjarnu — 25 %. News about that in Pjarnusky district the three-storyed house on 27 apartments, completely ready for residing and connected to all communications was offered to sale of all for 30 thousand euro, has instantly flown about all news lines of real estate. And meanwhile farm sound and lonely residential buildings with economic constructions quite really can be acquired for 7-8 thousand euro. As well as in Latvia, to the owner of real estate in Estonia the multivisa to all members of a family is warranted.

According to the Estonian legislation, for purchasing of inhabited real estate it is necessary to register firm (sale of real estate to the physical persons who are not citizens of the Baltic states, it is prohibited) in Estonia and to pay the national duty for registration of the property rights to object of real estate, a component of cost of acquired habitation of 2 %. The real estate tax constitutes nearby 1 % of cadastral cost of property. It is possible to use a mortgage of Estonian or Russian bank if it has representation or affiliated structure in the country. Base rates on a mortgage are very attractive — about 3,5 %. Under 12–14 % habitual for Russians Estonian bank can give out the credit practically without confirmation of incomes.
As to apartments lately bought on tick those or other ways have got an adjective "burning" and have returned on the market of Estonian habitation. Proprietors of burning apartments could not master credit obligations therefore banks expose them «for debts». Purchasing of such habitation is not connected with risk, but at transaction registration there will be the judicial contractor supervising object.

In the opinion of Russians Estonia soundly applies for a role of a launching pad for moving to the European Union countries. The same who is going to invest means in Estonian real estate, it is necessary to be stocked by patience. For investment acquisitions in sector of real estate of the most popular there is a capital of Estonia — Tallinn. Apartments with a view of the sea are considered as the most expensive: cost of square metre reaches to 2000 euros. On the average the three-room apartment can manage in 80-100 thousand euro. And for historical square metres of a XIX-th century of release it is necessary to be ready to count on 500 euros.

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