Finnish investment company Asuntosalkku Eesti OY is planning to buy more than a thousand apartments in Tallinn for the rental services: according to Postimees the first fifty apartments in the Old Town district has purchased. Company Asuntosalkku Eesti is a part of Vuokraturva OY, the Finnish leader of the rent market.
The company plans to acquire thousands of apartments over the next few years. Representatives of Asuntosalkku Eesti OY say that Tallinn is an attractive target in terms of profits and growth in the value of assets. It is also planned to attract Estonian investors - participation implies a minimum contribution of € 100,000.
Currently, the total portfolio of the group of companies counts 800 apartments with a total market value of about € 80 million.
According to the Estonian real estate professionals, the Finnish investors plan is unrealistic. According to the CEO of the company «Ober-Haus» Tarmo Kase, this volume is so unreal that may cause chaos in the Estonian real estate market significantly dropping the price. Market analysts believe that the current pace of the company - 50 apartments in 1,5 years looks more real.
Based on the materials of Postimees and baltic-course.com