After browsing for some potential Real Estate investment opportunities in Latvia, my attention got a 67m2 flat in Northern Vidzeme, in the small city of Seda. What really surprised - starting bid for this apt, just EUR 1,300, that's less than EUR 20 per square meter. Crazy.
What we now about Seda?
Seda is a town in Latvia founded in 1952. The major local industry is the extraction of peat. The town is remarkable for its 1950s-style Stalinist architecture, dating from the glory days of Seda when workers from all over the Soviet Union came to work for the peat extraction enterprise. Joint-stock company "Seda" is still a major employer.
I like to call Seda a Latvian Chiatura, see: Postcards from Chiatura
I have friends in Tbilisi (a french girl and aussie guy) - they are making awesome Brutal Tours in Georgia, take a look here: Brutal Tours - Explore Soviet Georgian Architecture in Tbilisi, I guess there is a potential to include Seda on this larger Soviet architectural tour (together with Karosta in Liepāja for example) and a possible Airbnb rental idea arises.
The flat is located in this building, it has a total area of 67m2. Some additional investment would be required for renovation and refurbishement, but we believe a good plumber and IKEA can make wonders.
For now I've applied for this bid, and lets see - maybe we will have some nice flat in Seda to take visitors from all around World, another opportunity would be long term rentals for people from Seda and nearby area (Strenči, Valmiera, Valka)
If you are interested to purchase an apartment in Seda, or any other part of the Baltics, click here to contact us and see how we can help.