Diversification rationale

  Estonia Hungary Czech Republic Latvia Spain
Investment profile  Defensive investment with still growth potential Value add investment Core investment in stabilized assets Defensive investment with a large growth potential High yield and value add investment
Potential of capital gain over 8-12 years* 25-50% 50-75% 0-25% Up to 80% Up to 100%
Maximum bank financing in % of acquisition price 0% 50% 0% 0% 50-60%
Minimum equity to invest 150 K€ 75 K€ 200 K€ 120 K€ 50 K€
Capital gain tax 0% 0% 0% 20% 19%
Rental yield 5-6% 5-7% 3-4% 5-7% 10-15%

* Estimation of potential of growth of value, given GDP growth, living standard and salaries catch up. This estimation is NOT CONTRACTUAL and is only an opinion