Due to the state of an emergency that started in the Baltics in the middle of March, it could have been expected that April will be the most difficult month of the year for the tenants of the fund. During…
On 31 March 2020 the owner and operator of T1 Mall of Tallinn shopping centre, AS Tallinna Moekombinaat (TMK, a group subsidiary of AS Pro Kapital Grupp), submitted an application to Harju County Court for commencement of reorganisation proceedings with…
In the final quarter of 2019, all three Baltic capitals saw somewhat different trends. In Tallinn, housing affordability fell as the average price of apartments accelerated and net wage growth weakened due to the previous year’s tax reform. Housing affordability…
Comment of the fund manager The most important economic events of EfTEN Real Estate Fund III AS in 2019 were the ABC Motors dealership purchase-leaseback transaction, successful issue of shares in volume of EUR 16 million and opening of Hortes…
In Tallinn, the HAI plunged by 5.7 points in the third quarter of 2019, compared with the third quarter of 2018, and ended at 148.5, as net wage growth was slightly slower than an increase in apartment prices and interest…
Gross Asset Value (GAV) In Q3 2019, the GAV increased slightly from EUR 344.9 million to EUR 345.3 million compared to the end of Q2 2019. The increase is mainly related to the increase in investment property book value due…
In Q2 2019, the housing affordability index (HAI) increased in Vilnius, but decreased slightly in Tallinn and Riga In Tallinn, the HAI decreased by 4.6 points to 151.5 in the second quarter of 2019, compared with the second quarter of…
In the second quarter of 2019, Estonian GDP growth slowed to 3.6% y/y in real terms and to 7.9% y/y in nominal terms. In the first half of this year, GDP growth was 4.2% in real terms. Although, the growth…
In Q1 2019, the housing affordability index (HAI) increased in Vilnius, stayed unchanged in Tallinn, but decreased in Riga In Tallinn, the HAI stayed almost unchanged (-0.1 point) at 151.9 in the first quarter of 2019, compared with the first…
In Tallinn, the HAI rose by 10.4 points to 161.9 as rapid wage growth outweighed growing apartment prices and interest rates. In Riga, the HAI improved by 12 points to 191.7 as wage growth outpaced apartment price growth. For new-project…
The housing affordability index (HAI) increased to 134.3 in Vilnius, 186.0 in Riga, and 154.3 in Tallinn. In Tallinn, the HAI rose by 5.8 points in the third quarter of 2018, compared with the same period in 2017, as rapid…
The housing affordability index (HAI) increased to 184.8 in Riga and 131.7 in Vilnius, but decreased to 156.3 in Tallinn. In Tallinn, the HAI fell by 3.1 points in the second quarter of 2018, compared with the same period in…
Every entrepreneur and property developer is looking for best measures to save money and earn a solid profit, so why would someone who strives for best quality at a lowest cost take credit obligations with an interest rate of 11%…
The housing affordability index (HAI) increased to 182.0 in Riga and 152.0 in Tallinn, but decreased to 133.1 in Vilnius. In Tallinn, the HAI rose by 5.9 points in the first quarter of 2018, compared with the same period in…
The housing affordability index (HAI) increased to 186.3 in Riga, and 129.9 in Vilnius, but decreased to 151.5 in Tallinn. In Tallinn, affordability decreased slightly by 0.3 point in the fourth quarter of 2017, compared with the same period in…