Pärnu Apartments
At the heart of the Estonian Summer Capital
- 9 off-plan apartments for sale in a popular area in the heart of Pärnu
- Excellent immediate and future prospects for Capital Growth
- Easy, stress-free, turn-key investment
- Relatively Low Risk, due to rent guarantee and ‘early bird’ offer.
- Steady growing market backed by increasing local affluence rather than foreign/outside influence.
- Typical Finance Levels of up to 80%
- Assistance and support through entire purchase process
- Completion is expected in March 2008
|
Reservations must be made by end MARCH 2007.
Please contact Mack Patel at 0871-271-5149
Unique opportunity in the Estonian Summer Capital
Location:
Pärnu is the summer Capital City of Estonia. It is 100 km from Tallinn in South-West of Estonia. The
development is situated in the middle of Pärnu centre and is called ‘Heart of Pärnu’. It is in the most popular
location in Pärnu. We expect this area in particular to experience an excellent level of capital growth over the
short and medium term due to the accessibility to the area and its general appeal outlined below. The
development will be situated between Port Artur 1 and 2 which are the two main shopping centres. It is a
popular meeting area with the additional appeal of the surrounding parkland, proximity to the river, the city’s
concert hall and the beautiful Old Town.
The main bus station is only 50 meters away from the development with convenient buses both locally and to
Tallinn, Riga and across Europe. Its central location means that it is easy to walk everywhere including along
the coast line and beaches.
Pärnu is an excellent destination for active holidays, offering many different sporting facilities. The city is
famous in Scandinavia and the Baltic area for its numerous health spas and hotels right on the beach and in
the centre.
The Developer:
The developer, Aida Partners is owned by Findlay Property Investment OÜ, EPOF (Estonia Property
Opportunities Fund), two private Irish investors and a local development company who we have known for a
number of years and have undertaken a number of previous joint ventures with.
Heart of Pärnu apartments
Kitchens
• In Estonia, like in most countries, kitchens do not come as standard. Kitchens and white goods are included
in our prices
Furniture
• A full furniture package is included in the price
Floors
• High quality solid wood floors throughout and ceramic floor tiling where applicable
Bathrooms
• Wash basin
• Rust resistant connecting taps and chrome mixer taps
• Shower and/or Bath depending on size of apartment
• Electric sauna in selected apartments
• Combo toilet and plastic seat, PVC tubing, rust resistant connecting taps
Entrance doors, living rooms
• Main entrance fire proof wooden door, security lock, 3 keys, security card, steel door frame
• Interior doors – wooden doors (some contain glass)
Windows & Heating
• EURO standard, wooden frames – double glazed
• Wall radiators, ribbed radiators in the bathrooms, thermostat heads
Communications connections
• Intercom, Door bell, Telephone socket outlets, TV distribution sockets, cable TV and or satellite receiver
connection possible.
*These specifications may be subject to change. However we aim to ensure that the general specification is
well above average for the locale.
Parking
• There will be five storey parking house located nearby (14,000m2). There will be private covered access
from our development to the parking. On the 3rd and 4th floor there will be exits to the exclusive shopping
centre. In the commercial unit on the 1st floor and basement there will be a well known anchor tenant. All
investors who purchase a car park space will receive an exclusive access card.
Rental Yields & Capital Growth
The two year rental guarantee has been designed to cover mortgage payments. In this area of Pärnu we
expect the gross rental yield to be approximately 6%; this figure has been verified independently by local
lettings agents.
In Conclusion
The rapid increase in affluent Estonians combined with the severe housing shortage forecast over the next 10
years gives an optimistic outlook for the long term growth of property prices in Pärnu and Estonia generally.
The price of real estate looks to continue to grow along with wage inflation and high economic growth and
the private rental market has developed beyond expectations.
Finance Structure
The process and costs for purchasing a property in this development are as follows;
• A €1,000 Reservation fee must be paid by bank transfer to our account (details on request)
• 15% exchange deposit (inclusive of reservation fee) will be required in approximately 1 month following
reservation fee.
Completion is estimated for March 2008 at which time full payment will become due.
• Usually 80% of the remaining purchase costs (for foreigners) can be funded by a mortgage.
• There is no stamp duty in Estonia. Other related costs like State tax, notary fee etc usually totals to under
2% of purchase costs.
• Commission is 2,5% +VAT (or £1,995 + VAT whichever is the greater).
Floorplan:
Apartment Type:
 |
10 |
11 |
12 |
Price List
| |
Rooms |
m2 |
Price EUR |
Price GBP |
Status |
|
10 |
2 beds |
67,3 |
180,613 |
118,824 |
|
|
11 |
1 bed |
55,5 |
148,946 |
97,991 |
|
12 |
1 bed |
55,5 |
148,946 |
97,991 |
Available |
13 |
1 bed |
53,5 |
143,578 |
94,459 |
Available |
14 |
2 beds |
81,9 |
219,796 |
144,603 |
Available |
15 |
Studio |
32,4 |
86,952 |
57,205 |
Available |
16 |
2 beds |
73,6 |
197,520 |
129,947 |
Available |
17 |
Studio |
30,9 |
82,927 |
54,557 |
Reserved |
18 |
2 beds |
54,7 |
146,799 |
96,578 |
Available |
For all enquiries or to reserve an apartment, please email my business partner, Mack Patel, who is currently overseeing the sale of this project. His email is mackpatel@tallinnproperty.com or telephone 0871-271-5149 today!
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