The Fraser Institute’s latest Economic Freedom of the World index ranks Estonia 15th out of 165 countries, Lithuania 22nd and Latvia 29th. All three rank ahead of countries such as Sweden, Belgium and France, and all three have moved up since last year.
The overall rank may not tell investors much. The Legal System and Property Rights ranking is more telling. It covers judicial independence, contract enforcement and the protection of property rights, and all three Baltic countries place in the world’s top 25.
Estateguru loans are secured by real estate, so it matters to investors where contracts are enforced and property is protected. A high ranking does not remove investment risk, but it shows the kind of legal and economic environment investors are operating in.
Daniil Aal, CEO of Estateguru
Real estate backed loan origination
- Estonia: €3.25M
- Lithuania: €1.01M
- Latvia: €0.96M
In September, €5.22M in new loans was funded across the Baltics. Estonia received the most funding and also had the highest number of projects.
New loans issued over the past six months:
Repayments and recoveries
Investors received a total of €8.58M. Of this, €7.74M was scheduled principal repayments, €0.33M was recovered from non-performing loans, and €0.51M was paid out as earnings.
Repayments and investor earnings over the past six months (EUR million):
Loan portfolio summary of recent years
Since 2023, when we received our pan-European licence, €290.3M in loans has been issued through the platform. By the end of September, €223.2M (76.9%) had been repaid to investors, and €57.3M (19.7%) was being repaid on schedule. In total, 96.6% of the portfolio is performing.
Only €9.6M (3.3%) of the loans issued since 2023 has been classified as non-performing, and we are actively working on recovering it.
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