Real Estate & Rental & Lettings News in Estonia from Propertyshowrooms.com

Eurozone entry likely to boost property interest in Estonia

Wed, 8 Dec 2010 00:00:00 GMT

Demand for real estate in Estonia could be set to rise in the coming months, with the country gearing up for entry into the eurozone.

The eastern European destination is scheduled to become the 17th country to adopt the euro currency on January 1st 2011 after it received final approval from EU finance ministers earlier this year.

And A Place in the Sun has reported recent comments from the Estonian prime minister, Andrus Ansip, in which he suggested that the membership would help to attract more foreign investors.

According to the news provider, the price of property in Estonia has tumbled since the market peaked in late 2007. The country experienced a property price boom between 2004 and 2006, creating a property bubble that has since burst.

Added to this, the country's capital city of Tallinn has been named the European Capital of Culture for next year.

The European accolade is expected to boost tourism levels, which in turn should push up demand for homes in Estonia to rent or buy.

Estonia in bid to raise UK tourist profile

Fri, 26 Sep 2008 00:00:00 GMT

In a move that could boost investment in tourist property in the country, a body from Estonia has announced it is holding a promotional event in London next month.

On October 9th the Estonian national tourist office is to run a show at the London Guildhall, which will include a workshop in the afternoon and a presentation for tour operators in the evening.

The body commented: "Estonia is becoming increasingly important among UK consumers looking for something a bit different."

An increase in UK tourist numbers could boost the prospects for tourist lettings, something that may appeal to property investors.

Earlier this week it was suggested that the most attractive bit of Estonia to visit lies away from the capital city of Tallinn.

China Daily described the country's Baltic islands as "charming" and noted that they are already an established popular destination for Swedes and Germans, KMS Baltic reported.

Developer of Rotermann City attracts tenants with discounts

Wed, 10 Sep 2008 00:00:00 GMT

Rotermann City that is developing the Rotermanni City near Hotel Viru is offering significant lease discounts for tenants...

Poor weather halted rental market in Estonia’s resort cities

Tue, 2 Sep 2008 00:00:00 GMT

The rental market in Estonia’s resort cities has been affect by poor weather and overall savings regime, Gerli Pedak writes in Äripäev supplement Real Estate...

Residents of housing area given three months to buy out land

Tue, 26 Aug 2008 00:00:00 GMT

City of Tallinn has given the residents of Aaviku housing area three months to come up with the money for land...

City of Tallinn: the problem of the forced tenants will be solved soon

Tue, 19 Aug 2008 00:00:00 GMT

Tallinn Deputy Mayor Taavi Aas said that the problem of so-called forced tenants, a group of people who live in restituted houses, can be considered to be solved soon as the number of such people is falling...

Start of school season raises rent prices in Tartu

Wed, 13 Aug 2008 00:00:00 GMT

When autumn approaches, the market of rent apartments in Tartu always becomes more active. The interest of students for apartments is higher than ever this year, possibly, because most of them won’t have a spot at university dormitory...

Apartment market more active than expected in July

Wed, 13 Aug 2008 00:00:00 GMT

In July, the real estate market at Harjumaa was more active than expected and more active than in June. In previous years, July has been the most quiet summer month, whereas this year there was buyers as prices continued to fall...

Rent of luxurious villas reaches EEK 100,000 a month

Fri, 8 Aug 2008 00:00:00 GMT

The rent in Tallinn’s top apartments stays around EEK 50,000 a month, the rents of villas are close to EEK 100,000 a month...

Price of apartment rental down by 30 percent in Tallinn

Tue, 22 Jul 2008 00:00:00 GMT

Unable to find buyers for their apartments, real estate developers have now focused on renting out these apartments...

BREC Real Estate: closed loan pipes favor renting

Thu, 17 Jul 2008 00:00:00 GMT

BREC Real Estate CEO Sven Soomuste said that since the loan pipes are dripping instead of flowing, renting real estate has become popular...

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...

Number of tourists in accommodation establishments up 12 pct in May

Tue, 15 Jul 2008 00:00:00 GMT

According to Statistics Estonia, in May 12 pct more tourists used the services of accommodation establishments compared to the same month of previous year. The average cost of a guest night was EEK 555...

Estonia recommended to overseas property buyers

Fri, 4 Jul 2008 00:00:00 GMT

People who are thinking of buying a residence overseas have been advised to look at Estonia.

According to the Foreign Property Buyer website, authorities in the eastern European country are aiming to attract holidaymakers from abroad.

Money from the European Union is already being used to market Estonia to consumers in other nations and promote is various attractions.

The website believes this could make a good option for prospective buy-to-let investors, as growing tourism is creating new demand for rental accommodation in places such as Tallinn.

Foreign Property Buyer commented: "The Estonian government has a good, open attitude towards investors and this attitude helps in sales and therefore property prices."

The online portal added that the country also offers a strong economy, low taxation levels and a growing housing market.

Earlier this week, Tom Hall of Lonely Planet described Tallinn as one of the most beautiful cities in Europe.

Estonian tourism officials step up overseas marketing

Fri, 27 Jun 2008 00:00:00 GMT

Tourism authorities in Estonia are accepting grants to fund the marketing of the country overseas.

European money is likely to be put towards the new promotional drive, which is designed to attract more visitors from overseas, reports the Baltic Course.

Tarmo Mutso, director of the Estonian Tourist Board, said he hopes to increase the number of overnight stays by foreign holidaymakers, as well the consumption of tourism services.

If the marketing drive is successful in attracting more visitors, this would create the need for more rental accommodation in Estonia.

As a result, overseas property investors who have a residence in Estonia could stand to benefit and collect healthy rental yields.

Mr Mutso commented: "Our wish is that a foreign tourist would become more aware of the tourism products that are based on the peculiarities of Estonia."

He added that he hopes visitors from overseas will also take the time to discover places outside capital city Tallinn.

Estonia became a full member of the European Union just over four years ago.