Reasons to invest in the project Urban Living, Vilnius II:
A 14-apartment complex in an attractive part of the city of Vilnius;
Interest is payable monthly with an attractive annual return of 10.24% – 10.75% plus an additional fixed annual capital gains return of 1.5% (payable at the end of the project);
Experienced project owner – has more than 20 years of experience in real estate sales, development and leasing;
Fixed interest linked (indexed) to inflation;
Loan-to-Value (LTV) for the whole project is 70%;
According to the independent appraiser’s report, the value of the financed property increased from EUR 603,000 to EUR 832,000 within 10 months.
The InRento team presents the second financing stage of the buy-to-let project – Urban Living, Vilnius II. The investment offer consists of premises that are being converted into an apartment complex in Vilnius, located at Kalvarijų St. 127.
The total area of the financed project is 364.27 m². Currently, the premises are undergoing installation work, including 14 apartments, each with its own bathroom, washing machines, television, and private kitchens.
Between October and December last year, the project owner faced cash flow issues during the construction process, resulting in delays in interest payments. The project owner has resolved the financial issues and is now successfully making interest payments to investors. For more detailed information on the project's payments, please refer to Project updates.
According to the independent appraiser’s report, the value of the financed property increased from EUR 603,000 to EUR 832,000 within 10 months.
This change was driven by the formation of fourteen apartments. Throughout the project, demolition work was carried out, new partitions were installed, heating radiators were replaced, a water supply and sewage system were installed, WC frames were fitted, electrical installations were carried out, and the floors were concreted. Installation work for recuperation and air conditioning systems is underway, and the walls are being plastered.
This project will be focused towards short-term rentals, but with all the necessary amenities it can easily be refocused towards long-term rentals. Similar concept apartments managed by the same project owner in the building have excellent reviews and ratings on the Booking platform.
The project is conveniently located close to the Twinsbet, the largest arena in the city, the Compensa concert hall and the OZAS and Akropolis shopping centers. Due to its competitive prices, the apartments will be attracting an increasing number of tourists and business people. The growing number of visitors contributes to the high level of bookings throughout the year.
The project owner K129 Living team has more than 20 years of experience in real estate sales, development and rental. Since January 2023, the company has also started to offer additional accommodation services, which will lead to higher profitability.
Investors will be paid a fixed interest rate of 10.24% – 10.75% per annum each month, depending on the amount invested. The project also has a fixed annual capital growth rate of 1.5%, payable at the end of the project. This raises the overall yield of this phase to between 11.74% and 12.25% annual return.
The maximum duration of the project is 36 months.