Hello all.

I have been reading quite a few forums as I am interested in overseas buy to lets.

I already have 4 buy to let properties in Liverpool ( 200 miles away) that has provided a nice return on my investment and is providing a useful capital pot.

As mad as it may seem I am interested in buying a property in Lithuania as it appears to be a real capital growth area and low cost of entry.

I plan to visit in next few weeks to check it out for myself.

However there appears to be almost no mentions of buy to let on any of the forums.

I can buy a brand new fully fitted property for 85000 euro with mortgage funding up to 85%.

Given that Lithuania now tops a recent guide on overseas capital growth I thought I should look into this.

Has anyone any views / contacts / storys for me to consider.

thank you

Lithuania seems quite a good bet to me as does Estonia and Latvia the other Baltic Tigers, especially when one considers thier substantial GDP growth of recent times. Some people have invested in a fund that will develop property in the Tigers (see Soup Dragons thread on this).

I almost bought in Estonia.

As ever the key is caution. My advice to you is make sure you find a expensive LARGE law firm to oversee the conveyance. I would source one in the capital if it were me. Someone I was talking to the other day recently bought in Poland. Turns out the house he viewed was different to that he legaly completed on! He only realised this after completion.

A Lithuanian told me the capital has already rocketed so I would perhaps look at areas just outside the capital in order to maximise capital growth.

Something I learned from my Estonia research was that the remote properties are virtually worthless given the low population density. Its easy to get carried away thinking all parts of a nation will one day have property prices to match the UKs but you should recognise we have a very high population density.

If you are interested, one of the places I invested was Berlin. I have a great contact there and property is very cheap given its the German capital. A key reason I invested here was investor safety - the buying process is a bit onerous but that serves to ensure people dont get ripped - off!

Well I am going google eyed researching this and other baltic states.

This is a definate goer for me. I am flying out at the end of the month.

I have found private clients market reports from the bigest estate agents. I have found the deals that are being brokered by developers and now got contact details so can go direct.

I will be buying at least 2 flats and expect to sign off plan deals. I may even be able to get an off plan deal with a release date of Feb 1st on the most popular size flat that the locals are snapping up themselves.

I even located the land registry web site and can see what prices properties have sold for and the current asking prices.

The major challenge now will be the mortgages but the developers have told me they are happy to arrange these for me as they have done plenty with other overseas buyers. Have to wait and see.

Flats that are 100k in euros were 60k 2 years ago. There is every expectation they will be 140k euro in 2 years.

There was lots of money made off plan in uk 5 years ago, well now the money off plan is eastern europe. Demand for modern housing is massive. thousand of families can afford and want to move out of the communist flats of the 60's and 70's. The land is mostly state owned and the big developers are planning on building in new areas for years to come.

There is life away from Morocco you know.

Hi Greenoak,

Although originally from the UK, I actually spent two years living and working in Vilnius until recently. I'm in London now, but I met a girl over there who's now living with me over here and we go back over there a lot

I'm actually thinking of looking into buying a flat of some description in Vilnius myself..... if you could email me any of the links/info you've found, I'd be hugely grateful: timsaxon <at> hotmail <dot> com

In return, I'd be happy to help you out in any way I can. Obviously, I know the place very well - I speak the language, I know the various regions of Vilnius and which bits are dodgy, etc. I'd add that I also understand the mentality of the people to a certain extent, too. If I could help you out I'd be glad to - if you're going over there at the end of the month, I could even suggest some interesting places for you to visit. Let me know......

Cheers,
Tim

[Got back yesterday from my shopping trip.

Well all i came back with was a sheepskin rug!!!

Really not sure of way forward now as I dont have cash to buy near the
centre and there were not any new developments about to start selling off
plan in the Zvertnas - Snipskes and up to Zirmunai. One agent knew of a
block that is soon to start selling that might be interesting near the
Zalgiro stadium.

Elsewhere I could not see the point of buying a new build in the new raeas
as when I come to sell there will be hundreds if not thousands of other
brand new flats being sold at the same time.

Interesting that developers are starting to sell finished but still price
unfinished. Also found out that developers are adding penaties to flipping
off plan contracts, which makes sense as they share the profit. Some just
dont allow it. Scuppered that plan.

Great city but easy to get lost.

Carl