The latest David Stanley Redfern Ltd own-brand development has broken ground in the Estonian summer capital of Parnu.

Located just a stone’s throw from a private beach and set within a protected area, the Parnu villas have extensive outside living space including roof terrace and garden. Designed with lazy summer evenings in mind, the development also incorporates a kids club and exclusive clubhouse for owner and guest use.

“Parnu is a very popular summer location and attracts around 30,000 visitors a day,” said company director, David Redfern. “This development of David Stanley Redfern Ltd villas is a prime investment opportunity for those looking for a second home or purely rental property.”

Each two-bedroom villa is 69sqm in size with bathroom, separate shower room and spacious living area. A 70% finance package in place for buyers. Coupled with low interest rates and burgeoning interest in the Baltic state, rental yields are currently estimated at 8%.

A sleepy town in winter, Parnu is transformed each June in to the best known resort in Estonia. Its picturesque harbour and golden sands are thronged with thousands of visitors attracted by vibrant theatre performances, dozens of festivals, excellent health spas and extensive sailing facilities.

With the capital Tallinn now served by the likes of easyJet, foreign interest in Estonia is at an all-time high. The thriving economy has pushed outside investment and locals have begun to embrace the first few rungs on the property ladder thanks to low interest rates and falling inflation.

Since joining the EU in 2004, Estonia’s spectacular architecture and natural charm have tempted an influx of tourists, suggesting rental opportunities will remain strong.