Real Estate in Latvia

0 days left
Pledged
€151770
Goal
€150000
Backers
186
Funded
Marko Oliynyk
Marko Oliynyk
Owner
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Invest in Real Estate in Riga!

At the mouth of the Daugava River lies riveting Riga, the capital city of Latvia, and home to more than half a million connoisseurs of medieval and art nouveau architecture, bustling nightlife scenes, and an amazing view of the Baltic.

It is also known as the country’s most important economic and cultural hub, featuring historical monuments and museums and the nation’s largest corporations, which keeps it in high demand for yuppies and people looking for a more urban setting to settle into. However, as demand for life in Riga grows, the supply of available real estate properties continues to shrink, making purchasing a home in this busy city more and more of an impossible feat especially for young people migrating into the country.

That’s what the apartment renovations planned by SIA MIGRA seeks to address. By renovating and refurbishing their newly acquired multi-apartment building to meet modern building standards, they will have created more quality living spaces for an increasing number of people who wish to live in Riga.

If you’re looking to invest in a real estate property equities with great potential for high liquidity, investing with SIA MIGRA’s project is the right decision.

 

Investor Benefits and Loan Security

SIA MIGRA, one of the leading real estate developers in Riga, is currently looking to raise 150,000€ in capital. SIA MIGRA has recently secured property rights for a multi-apartment building on Sabiles Street in the Zemgale suburbs, a quiet residential area that’s a 3-minute ride away from the city centre. The money will be used to renovate eight of the twelve apartments in the building and resell each per unit to individual buyers looking for a comfortable space that’s also accessible to the rest of the city. By partnering with TFG Crowd, SIA MIGRA seeks to raise their target amount and get the construction underway. They have promised investors a substantial annual interest rate of 12%, and are willing to do monthly payouts for the rest of the 12-month loan term.

 

The following pledges secure the loan:

·         A pledge on the appartments

·         Personal guarantee of the Borrowers’ shareholders & CEO

·         Guarantee of the Borrower

The loan is offered with the BuyBack Guarantee: thus, if a borrower is late with the repayment of the loan, TFGCROWD will compensate the investors both the invested principal amount and interest, as well as pay the accrued interest after 30 days of delay.

 

With demand for affordable but comfortable housing on the rise in Riga, SIA MIGRA apartment renovations project presents an opportunity of a lifetime. Help them achieve their goals today, and reap the benefits on your portfolio later.

 

Market Outlook

No stranger to the balmy Baltic breeze, Riga is a haven for people looking for a nice place to get away from it all and enjoy the finest that Latvia has to offer. It draws people from all over the world to its sandy beaches each year, each seeking all the thrills and romance of vacationing in a Baltic city, one with just the right weather come summertime.

But that’s not the only reason why thousands of people have been flocking to Riga.

Ranked by Teleport as one of the most affordable places to live in all of Latvia and even Europe, Riga has become a haven for young people from all over the continent. It has also been recently dubbed the Silicon Valley of the Baltics, making it the most attractive option for people who have shallow pockets but big dreams.

The place is always brimming with youthful energy, which couldn’t be more evident from its extremely active creative scene which finds its expression in the many art galleries strewn across the city. And once the clock hits 6 PM and the signs in the Old Town light up, Riga transforms into one of the best recreational places in all of Europe, offering standard and niche clubs catering to a very diverse crowd, and even oddities like bars where you can have your beard trimmed.  

The cultural and recreational significance of the Old Town to Riga has all but guaranteed that nearby property values remain high, more so since Latvia’s housing bubble burst. The city, or at least this region, now finds itself at odds with its own tradition of affordable housing and a place where young people can work hard and achieve their dreams.

This is why SIA MIGRA's real estate project at Sabiles Street at the Zemgale suburbs is so essential, and also incredibly rare: the Zemgale suburb is one of the closest residential areas to the city centre – the Old Town, that is – separated only by a bridge and a couple of minutes by mass transit. Their target demographic is young people aged 25 to 35 who are currently looking for living spaces near the Old Town – which substantially overlaps with the majority of Riga’s population – so there is no shortage of demand. Finally, since interest in the vicinity of the city centre is always high, SIA MIGRA’s executives are sure of their projections for high liquidity once the renovations planned have been completed.

Loan term
12 months
Interest rate
12% per year
Earnings
0

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