Central bank sees brighter future for Estonia

The Estonian economy is starting to improve, according to its central bank.

Although the country has suffered a significant economic decline in the recession, Eesti Pank emailed a statement commenting that the industrial output levels and export markets are now declining by less than at the start of 2009, reports Bloomberg.

It continued: "The overall volume of services exports has not contracted significantly compared with last year, also the confidence indicators have improved a bit."

Such news may suggest that the contraction in the Baltic country is starting to ease, which may mean that those who invest there now can pick up bargain properties that will enjoy growth as the economy gradually turns round.

In March this year the Royal Institution of Chartered Surveyors (Rics) noted that there had been a large rise in affordability in the Estonia property market.

The Rics European Housing Review 2009 revealed a 23 per cent price fall in the country in 2008.

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