baltic real estate market - ups, downs and recovery saint petersburg september 30th, 2011 mr. edgars...
TRANSCRIPT
Baltic Real Estate Market -
Ups, Downs and Recovery
Saint PetersburgSeptember 30th, 2011
Mr. Edgars ShinsPresident of LANIDA
CEO of LATIO Ltd.Latvia
Tallin
• Population – 414,353 people
• Residential sq.m – ca. 11.05 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%
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
Quantity of transactions with the real estate registered with the Land
Registry (area of a land parcel 1,500-5,000
sq.m.)
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%
Thank you for your attention!
Mr. Edgars ShinsPresident of LANIDACEO of LATIO Ltd.LatviaTel. +371 [email protected]@[email protected]