Real Estate & Other News in Estonia from Propertyshowrooms.com

Estonia 'top-scoring CEE nation for property rights'

Tue, 3 Apr 2012 00:00:00 GMT

Estonia has been named as the best nation in the central and eastern Europe (CEE) region in terms of its physical and intellectual property rights.

In the International Property Rights Index (IPRI) 2012, compiled by Property Rights Alliance, Estonia was ranked 28th in the world and first in the CEE area.

The IPRI noted its performance in the physical property rights section slid marginally, due to a fall in the level of finance available to those buying real estate in Estonia. Despite this decline, globally the country is still rated 25th in this category.

Meanwhile, the nation also scored well in terms of registering property and the protection of this type of asset.

The legal stability in Estonia is not the only reason to consider investing here, either. The Knight Frank Global House Price Index for the final quarter of 2011 revealed the country experienced the second-highest annual growth in real estate values in the world.

According to the firm's figures, the cost of buying a home in the nation increased by 12.3 per cent, with only Brazil recording more robust growth.

Estonian house prices rise

Mon, 14 Nov 2011 00:00:00 GMT

A recovery in the value of residential properties in Estonia has been recorded by the country's statistical office.

Global Property Guide reported on the figures, which revealed that average house prices in the nation climbed by 10.6 per cent during the year ended in June 2011.

The increase comes after Estonia's housing market experienced significant fluctuations in property values, with meteoric rises between 2004 and 2006, followed by large falls until midway through 2010.

According to the publication, construction activity in Estonia is beginning to pick up. Data from the Register of Construction Works showed a 21 per cent rise in the number of building permits granted in the third quarter of 2011, compared to the same period a year earlier.

However, the news provider stressed that the effects of the eurozone debt crisis have yet to filter through and have an impact on Estonia.

Greece, Spain and Italy are among the European nations battling with substantial public debts at present.

Estonian property foreclosures increase

Fri, 21 Oct 2011 00:00:00 GMT

There has been a rise in the number of foreclosed properties coming on to the market in Estonia, it has been revealed.

Baltic Business News reported on an article published by Estonian news provider Eesti Paevaleht Daily, which claimed people living in the nation are not only struggling to pay their own mortgages, but may lose their homes after guaranteeing a loan for someone else.

According to the report, almost twice as many properties have been foreclosed by Swedbank than at this point in 2010.

Debt councillor Terje Laats explained that in some cases, the guarantor did not fully understand their responsibilities when signing a contract, which has created problems.

Meanwhile, Propertywire recently revealed that real estate in the country's capital Tallinn is experiencing significant growth in values.

The news resource cited the Ober-Haus Baltic Apartment Price Index, which found that properties in Tallinn were worth 11.1 per cent more in September than they were in August.

In comparison to other Baltic countries, the Estonian real estate market is performing well, with house prices in Lithuania stable and those in Poland declining, the Ober-Haus study found.

Estonia 'ready' for eurozone entry

Thu, 11 Nov 2010 00:00:00 GMT

Estonian prime minister Andrus Ansip has revealed that the country is ready to join the eurozone in January 2011 as scheduled.

Speaking at a press conference in Helsinki, Mr Ansip said that he expected the country to become more attractive to foreign investors once the process was complete.

The prime minister explained that entering the eurozone and adopting the European currency would help to support the growth of trade in the country.

It could also see interest rates in the Baltic State fall, which would be good news for the property market.

Meanwhile, those looking for property in Estonia may be interested to learn that the country is expecting to witness a surge in tourist numbers when the capital city of Tallin is named as the European Capital of Culture next year.

The jump in visitor numbers will no doubt lead to an increase in demand for homes, with the buy-to-let market expected to see benefits.

Property prices decline as English-speaking population ages

Sat, 21 Aug 2010 00:00:00 GMT

Property prices in English-speaking countries could decline as the global population begins to age, it has been claimed.

According to new research from the Bank for International Settlements, house prices are affected by people's consumption and saving patterns, which change as populations age.

Economist Elod Takats, author of the bank's latest study, said: "If the economy is ageing, i.e. the subsequent young generation is relatively smaller, then asset prices decline."

He claimed that the fall in asset prices would be particularly noticeable in English-speaking, developed, western nations - which highlights the benefits of investing in foreign property in non-English-speaking regions, such as Estonia, Romania and Bulgaria.

"In the past 40 years, [developed] economies have experienced the positive impact of ageing. As baby boomers reached working age and started buying housing, they pushed up property prices," Mr Takats said.

In the short-term, the picture is very different, however, with property prices in Australia soaring by almost 20 per cent in the past 12 months.

City of Tallinn puts valuable Old Town premises on new sale

Fri, 22 Aug 2008 00:00:00 GMT

Tallinn City Council will make a new attempt to sell the building on the corner of Lai, Nunne and Pikk street in Old Town that houses Pärli cafe...

Buildings can’t be sold without energy markers anymore

Fri, 15 Aug 2008 00:00:00 GMT

Ministry of Economic Affairs and Communication yesterday presented a draft “Form and issuing procedure of energy markers” to coordinating committee, writes postimees.ee...

Young woman loses a home for a loan taken for her employer

Fri, 8 Aug 2008 00:00:00 GMT

Postimees writes that a bank has foreclosed a home of a young Estonian woman who two years ago took a loan for her employer...

Known curd cheese maker to enter agro-tourism

Tue, 5 Aug 2008 00:00:00 GMT

The Nopri farm in Võru County is known for its dairy products, but now the farm is planning to enter the agro tourism field...

Estonian Land Board selling wetland in Saaremaa

Fri, 18 Jul 2008 00:00:00 GMT

Estonian Land Board is selling in Kuressaare in Saaremaa five over-floated properties that have no access or communications...

Double-offering an apartment isn’t popular in Estonia

Tue, 15 Jul 2008 00:00:00 GMT

The popular method in USA to rent out apartments that haven’t be bought, hasn’t been very sought after in Estonia. Real estate company BREC Kinnisvara is still the only discovered real estate developer, who advertises both sale and rent prices on its homepage...

Artig real estate: we did not lie about the numbers of apartments

Thu, 10 Jul 2008 00:00:00 GMT

Marek Antoniak, the owner of the real estate company Artig Kinnisvara, denies the Harku rural municipality’s claims that the company built 18 apartments instead of 13 noted in the municipality’s issued construction permission...

Estonian Ministry of Interior sells properties for EEK 17.6 mln

Thu, 10 Jul 2008 00:00:00 GMT

Estonian Minister of Interior has put on auction ten properties in the total of EEK 17.65 mln, aripaev.ee writes...

House owners looking for cheaper heating opportunities

Tue, 8 Jul 2008 00:00:00 GMT

The rising price of traditional fuels, like natural gas and light heating oil, have recently created a situation where more and more house owners and associations have started to use other, more nature friendly, heating options in their buildings, like pellet heating or heat pumps, writes postimees.ee...