Baltic Real Estate Market - Ups, Downs and Recovery Saint Petersburg September 30th, 2011 Mr. Edgars Shins President of LANIDA CEO of LATIO Ltd. Latvia.

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Presentation transcript:

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 – ca million Commercial sq.m – ca. 480,000

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 2004 and 2011

Number of real estate bought by foreign citizens

LATVIA

Riga Population – 703,581 people Residential sq.m – 25,177,800 Commercial sq.m – 52,450,000

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 Between spring 2010 and spring 2011 in Latvia it was 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 2004 and 2011

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

Number of real estate bought in Latvia by foreign citizens between

LITHUANIA

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 From the beginning of the Real Estate crisis in 2007 prices in Vilnius for residential RE have fallen by ~39%

Price increase in Vilnius Between spring 2010 and spring 2011 in Vilnius was “sustainable” housing price growth throughout the year 5%

Average apartment price in Vilnius (EUR/sqm)

Number of transactions in Lithuania (per month)

Average apartment price, EUR/sqm

International comparison – home ownership, %

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

The average rent price in shopping centers

Thank you for your attention! Mr. Edgars Shins President of LANIDA CEO of LATIO Ltd. Latvia Tel