VT3, Palanga I
Reasons to invest in the project VT3, Palanga I:
- Fully furnished apartments in Palanga, just 800 meters from the main street of the city;
- Interest is paid every month to investors with an attractive annual return of 6.7% – 7.1%;
- Fixed annual return on capital gains: +1.5% (paid at the end of the project);
- Fixed interest linked (indexed) to inflation;
- The loan-to-value (LTV) ratio for this phase is very attractive at 38%, and the maximum LTV for the whole project is 75%;
- The premises were valued by an independent valuer at EUR 130,000.
InRento team presents a new buy-to-let project – VT3, Palanga I. The investment offer consists of an apartment located in the Lithuanian seaside, at Virbališkių takas 3K, Palanga.
The total area of the apartment is 53.92 m². This newly and comfortably furnished apartment is focused on short-term rent. The property is expected to generate a rental income of EUR 20,000 over the next two years.
The owner of the project, Nerijus Baliūnas, has successfully completed two phases of the V3, Palanga project on the other floor of the same building. The early repayment of that project resulted in an annual return of 16.04% and 27.24% respectively.
Nerijus Baliūnas has also successfully completed other projects financed on the InRento platform – S12, Vilnius and T101-5, Klaipėda. The actual annual returns of these projects were also higher than originally expected.
Investors will be paid a fixed interest rate of 6.7% – 7.1% per annum, depending on the amount invested, every month. The project also has a fixed annual capital growth rate of 1.5%, payable at the end of the project. This raises the total yield for this phase to between 8.2% and 8.6% annual return.
This project also has a Timeshare, those investing from EUR 5,000 and up will have the opportunity to book a night's accommodation and stay for free in these apartments. More information below.
The maximum loan term is only 24 months. After this period, the project owner plans to refinance or sell the property.
This project has a fixed annual return on capital gains –
The capital gains are fixed and payable together with the repayment of the loan amount for the preceding instalment ("Instalment"), with the return for each successive Instalment being added to the calculation of the return. The Instalment shall be considered as per one calendar year. A fixed increment of 1.5% shall be applied to the Instalment.
Example calculation: If the Loan is repaid after one year, a fixed return of 1.5% applies. If the Loan is repaid after 24 months, a fixed return of 3% applies.
The profit margin is payable whether or not the Loan is repaid on the sale of the property.
This project will be financed in two stages.
2023-08-29
Please be informed that a buy-to-let project in Palanga – VT3, Palanga has been realized before the minimum term. Following the successful sale of the apartments, the total annual return to investors in this project was 13.41%.
As you may know, projects on the InRento platform have a term within which the project must be realised, and investors are repaid the amount they have invested, plus interest and capital gains.
Also, in order to ensure the interests of investors, each project has a minimum loan term, which means that if the project is realised before the minimum loan term is reached, the owner of the project must also pay interest and capital gains for the entire minimum term when the loan is repaid.
Although this project lasted just a little over a month, the minimum loan term was 2 months, which resulted in the investors being paid income for 2 full months, which increased the annual return of the project.
The payout process of interest, capital gains and principal payments has begun, and the funds will be credited to investors' accounts in 1 business day.
2023-07-17
We would like to inform you that the mortgage on the project’s – VT3, Palanga assets, has been successfully placed (the document is attached in the documents section).
The first interest payment for this project will be distributed next month.
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Palanga Lithuania