60 apartments with 1, 2, 3 and 4 bedrooms located in the heart of the summer capital of Estonia, Parnu, with high quality finishing and rental guarntee.
Heart of Parnu apartments offer a unique opportunity in the Estonian summer capital. Pärnu, the best known Estonian resort, is more than just a summer city. It is also a place for conferences, theater performances and concerts. Besides being a resort, Pärnu is also a historic city, a harbor city and a university city.

Heart of Parnu apartments is located in the most popular location in Pärnu. The beach is only 10 minutes walk away and the neighbourhood has many restaurants and shops. 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.

Excellent central location
High quality specification and build
European hotspot
Strong rental demand
One year rental guarantee
Creative financing

The development itself is over 8 floors of which the 1st 4 floors (1st to 4th) will be an exclusive shopping centre and the top 4 floors (5th to 8th) are residential apartments. There is also a food-store in the basement level. The apartments differ in size starting from 30m2 up to 84m2. There will be 3 different interior designs and colour schemes which clients can chose from at a later stage. Completion of the project is estimated end 2008

FINANCE

This is an excellent opportunity to invest in an off plan property at a significantly discounted price with a rental guarantee to cover your mortgage repayments and only 15% deposit.

Prices vary from £62,900 to £189,000 depending on the size and the number of bedrooms.
We can offer our investors an exceptional mortgage product with 5% interest and 70% LTV for up to 25 years in addition to 15% cash back.

We have created an incredibly attractive way to purchase property in Estonia that we believe is one of the best investment structures currently available in Europe, we have structured the deal in a unique way to create additional returns for our investors where we offer more than 15% genuine discount, and we use this discount to lower the required deposit from 30% to only 15%


INVESTMENT EXAMPLE

You decide to buy an apartment with price £100,000
Now: pay £ 2,000 Reservation fee (takes the property out of the market and fixes the price)

4 weeks: pay half the deposit £15,000 (15%) and sign the contract.

At completion: Pay the second half of the deposit £15,000 (15%).
£70,000 (70% LTV) is financed by the mortgage.

Receive a refund of £15,250 (15.25%) making the initial costs only £14,750 while your equity in the property remains £ 30,000

At this time due to the significantly discounted off plan price and the capital appreciation during construction phase, it is anticipated that the £100,000 buying price will have grown to a property value of £120,000, your equity in the property is now £50,000 and all you have paid is £14,750 giving you more than 238% Return on investment!

Now you have a guaranteed rental income for 1 year to cover your mortgage repayments, so you don’t have to worry about any expenses for a complete year.

If you hold the property for 5 years after completion: The property value is anticipated to be £193,261 and your equity in the property is £123,261 and all you have paid is 14,750. This means you have a return of more than 735% in five years.

The above calculations are done using a 10% capital appreciation per year (the area has been averaging 15% + per annum, over the last 5 years, however, we have taken an average of 10% per annum for the future). For more information on Estonia growth figures please refer to our report “Making money in Estonia property”.

WE ARE HAPPY TO ANSWER ALL YOUR ENQUIRIES