Merks Viesturdarzs in Riga

Name: Sales in Merks Viesturdarzs started!
Start: 2022-02-21T11:11:45.044572+00:00
End: 2023-12-31T23:59:59+0000
Location: Merks Viesturdarzs

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Project info

Object ID: 18430

Finished at	March 2022
Price, m²	From 2900$
Housing class	Comfort
Buy online	Details
Installment plan	—
Bank mortgage
Property type	Aparment building
Square	from 36.40 m²
Floors	7
Apartments	350
Condition	Turnkey
Construction type	Monolyth
Security	—
Conveniences	Parking Kids playground Near school Near kindergarten Near supermarket Near hospital
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Personal discount certificate 300$
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Return on investment for apartment

with price

8,078$

Rental income

1,103$

Management

689$

Utilities

403$

5% Income tax

5,883$

Net profit

Month	Days in month	Occupancy, %	Occupancy, days	ADR	Total
January	31	29%	9	25$	225$
February	28	35%	10	25$	250$
March	31	25%	8	27$	216$
April	30	26%	8	35$	280$
May	31	51%	16	35$	560$
June	30	80%	24	38$	912$
July	31	87%	27	55$	1485$
August	31	87%	27	70$	1890$
September	30	66%	20	45$	900$
October	31	64%	20	35$	700$
November	30	40%	12	25$	300$
December	31	38%	12	30$	360$
Total	365		193		8078$
Average		52%		37$

Total invested

104,400$

Net profit

5,883$

Payback period

12.9 years

Avg property value increase per year

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About the project

Merks Viesturdārzs is a new project by construction company Merks in one of Riga’s prettiest neighbourhoods, next to the historic city park Viesturdārzs.

The project will be implemented in three stages and will comprise 350 apartments of different sizes, all of which will share high construction quality and modern design. There will be three apartment buildings of five to seven storeys. In the first stage building, closest to the park, there are 96 apartments. In the second stage building there will be 167 apartments.