Lithuanian Association of Property Appraisers made an assessment on $Nordstreet
projects in April and found high valuations and low selling prices:
''Because the loan-to-value ratio (LTV) of money lent on this platform is calculated from the assets the market values of the assets in the valuation reports, we believe that there is a high probability that loans granted by investors are not adequately covered by collateral, contrary to what is stated to investors. We emphasize that the association has not conducted a comprehensive investigation and the list below is not exhaustive. This is random objects from said platform that stand out the most. We also assume that the companies mentioned in this letter may prepare valuation reports for the purpose of collateral and other credit instances that do not make their assessments public and therefore do not have the possibility to compare the values with the market information.''
Molėtai district municipality., Inturkė eldership., Kamužė 3, 3A, 3B
Company UAB Nill Nill, report no. N2102S10.
- Valuation date: 10/02/2021, market value: EUR 724,000.
- Transaction date: 2021-04, transaction price: 246,000 Eur.
- Selling ad found: 239.000 Eur.
Visaginas municipality, Karlų village, Dūkštas road 11
(Project canceled and refunded to investors after LinkedIn comments on the value of the collateral and the reality of the loan repayment)
Company UAB Vertinimo partneriai, report no. VP21N03-23.
- Valuation date: 12/23/2021, market value: EUR 297,000.
- Transaction date: 2021-02, transaction price: 25,000 Eur.
- Transaction date: 2021-03, transaction price: 125,000 Eur.
- Selling ad found: 33.000 Eur.
Elektrėnai municipality, Elektrėnai sen., Kakliniškių village, Migūčionių st. 2A
Company UAB Vertinimo partneriai, report no. VP20N11-07
- Valuation date: 03/11/2020, market value: EUR 596,000.
- Transaction date: 2020-09, transaction price: 33,000 Eur.
- Selling ad found: 34.000 Eur.
More: lvr.lt/wp-content/uploads/2021/05/2021-04-19-LTVA-DĖL-VIEŠUMOJE-ESANČIŲ-VERTINIMO-ATASKAITŲ-s0419.pdf?fbclid=IwAR0xahPROAweLMEjsGdLi8ISRQI7E-4SwPMDDH7J2QzyOIuSdZmViM_4XeY (in Lithuanian)