We see that Tallinn and Estonia are popular with other forum members, however, we've been taking a long look at Riga and Latvia in general. Few concerns though, most of which will also apply to Estonia and other ex Eastern Bloc locations:

1. The building boom seems to be yet again based on overseas investors, outpacing growth in income and making yields low / uncertain with low rental levels and limited potential for resale to the local market in the short / medium term.
2. There is a higher risk of unscrupulous practices in build, sales and management of the projects where they are intended solely for overseas investors.
3. Repeated occupation and possession of the country during the 20th Century must make claims on title more likely and harder to fend off, (although this risk may be insurable).

On the up side, Riga and the nearby coastal resort areas of Jurmala already have good infrastructure in place for both tourism and business, there are a wide range of projects available at all price levels, acquisition costs are reasonable and there is no CGT after the initial 12 months of ownership.

Any thoughts on the relative merits of the Baltic states any one?

I considered Estonia but the population density is lowest in Europe ( a fifth of Denmarks yet similar land mass so the land is virtually worthless).

My quest for something else abroad continues.

I have come up with a 'must have' list which you might find helpful;

1) RESALES - how easy is it to resell? For example do the local agents speak English? Will one be submerged under layers of complex bureacracy with no one to help? (As an example Morocco appealed to me as the agency infrastructure already in place is Brittish).

2) DEVELOPER SECURITY - time and again Im offered stuff but the developer cannot provide Bank Guarantees or land title assignment when deposit paid so I decline. Lack of security can be balanced where a developer is willing to work off a small deposit until final completion (say 30 - 40%)

3) RENTAL COMPLEXITY - if you intend to complete as opposed to flip, how realistic is the rental proposition? How will you manage your affairs from the UK?

4) FLIPPING - I insist sales contracts include a clause giving me hassle free will to flip without developer restriction (many developers are flipping - averse).


Ive just been offered appartments in a Bavairian off - plan development. I have had the developer agree to my flipping and deposit terms, now Im deciding whether to go ahead.
Its a development next to the largest golf course in Europe in a spa resort where all facilities are made available to property owners. £90000+