Vilnius Apartments for sale

11/29/2006 - selectoverseas.com

60 sq m lovely Apartmentfor sale in Vilnius Park View Vilnius Lithuania only 36,703 GBP listed by selectoverseas.com 29 November 2006. The Apartment has 0 bedrooms and 1 bathrooms ref 265. Property View Reception Room

Apartment in Vilnius Park View Vilnius, Lithuania

Property in Vilnius | Property in Lithuania | Back

Apartment Description

An excellent early chance to buy in the attractive new suburban park area of North Vilnius. 10% down, the rest upon completion, up to 80% finance available.

5 minutes from new city hospital and proposed new tram stop.

Property size in terms of square meters is yet to be confirmed and therefore should not be considered accurate.

The Vilnius Park View Development is one of the first in the attractive new suburban area of North Vilnius. Designed and built by one of Lithuania’s most successful and respected developers and for the investor this is a prime short to medium term capital growth product with excellent rental prospects which would cover the annual outgoings.

The city centre is a comfortable 10 minute drive away along beautifully tree-lined avenues. Many infrastructure projects are underway in Vilnius and in the northern area. In Vilnius, projects include expansion of the International Airport, reconstruction of the central railway station and a new tram and parking system. Within the northern area, included are the building of a new highway out of the town, the introduction of the new city tram system with a stop next to the City hospital a 5 minute walk away, a 2000m2 shopping centre, a kindergarten and a primary school. All leisure activities including bars, restaurants and cultural attractions are within a 10 minute car drive.

Vilnius is a small city but has a vast number of cultural attractions such as the historic Old Town (the largest in Eastern Europe and a UNESCO heritage site), the Opera House, art galleries, a multitude of shopping centres, bars, restaurants, Red Square and the famous Vilnius Castle perched high on the banks of the Neris, the river which runs through the middle of the city. There is also an efficient transport infrastructure in place with regular buses, private buses and taxis. Within Vilnius’ strategy 2002-2011, there is a proposed tram system to be built. This will make moving around the city even easier with the main routes being through the Old Town, linking large residential areas and from the centre to the hospital district, exactly where this development is located.

It is usual that property prices increase if a new transport link is made available close by. Vilnius city government is currently implementing a multi-million Euro programme of infrastructure investment. Lithuania has been poorly marketed to date but this is set to change. In fact, Vilnius recently won the ‘European Region of the future’ award at MIPIM 2006, the world’s largest international real estate event. Vilnius has also been awarded the European City of Culture for 2009 and is due to host the 2011 European Basketball Championships. Property prices in Vilnius have grown by 30% over the last couple of years and during the first quarter of 2006 alone, prices in the city increased by 15%.

Costs / Finance -

Payment Structure - £3000 non-refundable reservation fee, 10% deposit within 10 days of reservation. The balance is payable upon completion in the 3rd Quarter of 2007

Finance - 80% LTV available from Parex Bank with 50% interest only element rate.
APR from 4.5% variable (Euros)
• Loan to Value: 80%
• Currency: Euros/USD/LTL
• Max period: 30 years / until the age of 65

Payment Structure -
The mortgage scheme is an unusual product, where only 50 percent of the capital is repaid at a fixed level for the term of the loan. Meanwhile, interest is paid on the outstanding balance, meaning your overall payments reduce as the loan goes on. At the end of the term, you would need to either refinance, or sell the property in order to repay the outstanding balance. This is a very investor- friendly scheme that gives you a low level of payments and improving cashflow as time goes by.

• Deposit required: 10% of purchase price

Essentially a short to medium term capital growth product that is greatly aided by our excellent finance options. Excellent payment terms mean this is well worth investing in at only £3,670. The potential is enormous due to the location and the rise in wealth in this new EU country. The strength of the local market ensures that the pricing is right and that there is excellent potential<

Name * Tel * Email * selectoverseas.com Send me more details on REF: 265 - Apartment in Vilnius

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