Real Estate & Property Investment News in Estonia from Propertyshowrooms.com

Estonia house price climbs 'biggest in Europe'

Thu, 8 Dec 2011 00:00:00 GMT

The rate at which the value of properties in Estonia has risen is faster than anywhere else in Europe, it has been revealed.

According to the latest Knight Frank Global House Price Index for the third quarter of 2011, the cost of buying a home in the nation has increased by 14.3 per cent since the same period in 2010.

Meanwhile, residential real estate values climbed by three per cent between the second quarter of this year and the three months from July to September.

Estonia ranked second globally for its annual house price growth, with only Hong Kong performing better.

The capital Tallinn was highlighted as one of the top property markets in the world recently in the Global Property Guide house price index.

Values here rose by 2.71 per cent between the second and third quarters of 2011, the data found, although the publication revealed the cost of purchasing a home in the city fell marginally compared to a year earlier.

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.

Estonian tourism boosted by flights and culture city status

Mon, 4 Apr 2011 00:00:00 GMT

An estimated 34 per cent more British and Irish visitors travelled to Estonia in January 2011 than the previous year, new figures have revealed.

It marks a promising start to a year in which the country's capital city Tallinn is European Capital of Culture.

Over the course of the month, British and Irish visitors were the fifth largest market for Estonia, after inbound tourism from neighbouring countries Finland, Russia, Latvia and Sweden.

Estonia's director of Tourism, Tarmo Mutso, said: "Tallinn is one of two European Capitals of Culture in 2011 and this is attracting a lot of interest in the city, not least as a result of the extensive media coverage we've had right across Europe."

Mr Musto added that new flights to the country from Ryanair and easyJet are also having a positive impact on the tourism market.

The news follows recent comments made by Mary Stuart-Miller, the UK director of tourism for the Estonia Tourist Board, stating that Tallinn's old town should be a focal point for any visit to the city.

Estonia property finishes 2010 strongly

Wed, 19 Jan 2011 00:00:00 GMT

Residential property prices in Baltic cities finished the year relatively stable, new figures have shown.

The latest Ober-Haus Real Estate Advisors statistics show that apartment prices in eastern European states are climbing, although they remain well below their 2007 peak.

Indeed, in the Estonian city of Tallin prices have climbed by 7.9 per cent year-on-year compared to December 2009.

Added to this, transaction levels in the city have soared, with 22 per cent more purchases registered, those interested in buying property in Estonia may be interested to learn.

Meanwhile, elsewhere in the country, the price of apartments in Riga have increased by 5.1 per cent over the past 12 months, but prices are considerably lower - by around 60 per cent - from the peak of the market in 2007.

Activity in residential districts was poor due to the holiday season over Christmas and New Year and uncertainty about real estate prices in 2011, the Ober-Haus report added. But there is still a lot of interest in exclusive city centre developments where most buyers are from overseas.

Estonia highest placed Baltic State for economic freedom

Fri, 14 Jan 2011 00:00:00 GMT

Estonia has placed 14th in the World Economic Freedom rankings, making it the highest placed of the Baltic States.

Compiled and published each year by the Wall Street Journal and the Heritage Foundation, the country has climbed two places from its position last year.

The news may be of interest to those looking to buy property in Estonia, with it making improvements in terms of its monetary and labour freedoms.

However, the index did note that relatively high government expenditure in the country was hampering further progress from being made.

"Public finance management would benefit from longer-term budget balancing goals, clearer co-ordination between central and local governments, and better targeting of social benefits," the publication says.

Hong Kong placed first in the index, which measures freedoms ranging from property rights to corruption, followed by Singapore and Australia.

Meanwhile, Estonia became the 17th country to adopt the euro currency on January 1st 2011 after it received final approval from EU finance ministers earlier last year.

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 '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.

Estonia looks to increase visitor numbers

Wed, 13 Oct 2010 00:00:00 GMT

Estonia is looking to increase its exposure and attract a new demographic of visitors next year when Tallin is named as the European Capital of Culture.

The country’s capital city will benefit from a host of daily events throughout 2011, including music, art and photography.

And Mary Stuart-Miller, Estonia’s UK-based director of tourism, is confident that the cultural feast will entice new visitors to the country.

"The old town is the heart of Tallinn city which is raised up with lovely cobbled streets [and] a big wide open square with a town hall. There are magnificent views right across the medieval rooftops and out to the bay of Finland," she said.

To this end, budget airline Ryan Air has announced that it will be introducing new flight paths to Tallin from the UK starting in December.

The news is sure to interest individuals looking for property in Estonia, with the country likely to enjoy a rise in the number of visitors looking to rent homes during their holiday.

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.

Estonia set for euro adoption

Thu, 15 Jul 2010 00:00:00 GMT

Investors may be interested to learn that Estonia has been given the all-clear to enter the eurozone next year and adopt the single currency.

The European Union finance minister gave the country the final approval to become the 17th eurozone member last Tuesday (July 6th).

Potential property investors in the region are sure to see the news as a much needed boost for the eastern European destination whose economy faltered after falling into recession during the financial crisis.

"The euro … by itself does not make us smarter or increase our productivity," Reuters reported the central bank as saying in a statement.

"However, joining the euro zone means that trust in the Estonian economy is growing."

Politicians agreed that the exchange rate should be fixed at 15.6466 kroons to one euro.

Earlier this year, the International Monetary Fund predicted that thanks to a low budget deficit of 1.7 per cent, Estonia was on target for euro adoption by 2011.

Estonia set for Euro entry in 2011

Mon, 5 Apr 2010 00:00:00 GMT

Estonia has revealed its desire to adopt the European currency by the beginning of next year, it has been announced.

According to the International Monetary Fund, the destination is on target for euro entry thanks to a budget deficit of 1.7 per cent - below the three per cent stipulated by the euro zone.

Potential property investors in the region may be interested in the news which will see the Estonian economy bolstered following its fall into recession.

Reuters reported that Christoph Rosenberg, head of the IMF's regional office for central Europe and the Baltics, had revealed that so far the country had fulfilled all the necessary requirements for entry into the Eurozone.

Before it adopts the new currency next year, Estonia must first seek approval from the European Commission.

Swedbank has claimed that numerous real estate developers are launching residential projects in the country thanks to a combination of market stabilisation and low costs.

In addition, the organisation stated its belief that property prices in the country had reached their lowest point and would not fall any further.

Developers in Estonia take advantage of low build costs

Fri, 12 Mar 2010 00:00:00 GMT

There could be a rise in the number of property investors heading to the eastern European market in Estonia, as developers take advantage of cheap construction costs.

According to Swedbank, numerous real estate developers are launching residential projects in the country thanks to a combination of stabilisation in the market and low costs.

The head of the bank's real estate development Ero Viik made the comments at a conference aimed at the bank's investors and developers, the Baltic Course reported.

"New developments will reach the market at the end of this year or in the first half of next year and hence it could be considered that the supply of flats in 2010 will be rather moderate," he said.

Furthermore, Mr Viik stated that the general consensus of opinion was that prices had begun to stabilise and would not continue to fall any further.

Earlier this year, Swedish banking group SEB predicted that the Estonian economy would experience growth within the next two years, which would put it in a firm position to adopt the euro in the future.

Estonian economy set for growth

Sat, 20 Feb 2010 00:00:00 GMT

Investors looking to buy property in Estonia may be interested in news that Swedish banking group SEB has predicted economic growth to occur in the country in the next two years.

The reports could mean that Estonia may be eligible to adopt the euro in the maybe by 2011.

Reuters reported the bank as saying: "After falling by 14 per cent last year, Estonia's GDP will grow by two per cent in 2010 and five per cent in 2011.

"Our Estonia forecast assumes that in May or June, the country will get the green light to join the euro zone in 2011."

These new figures dwarf the previous prediction made be the banking group, who said last November that the economy would contract 0.3 per cent in 2010 before growing by four per cent the following year.

Under current European Union (EU) rules, any country wanting to join must reduce its budget deficit to within three per cent of its GDP.

If the country is able to meet the EU requirements it is likely to provide it with economic stability, something that would help make it more desirable for potential investors.

Estonia could see rise in foreign investment

Mon, 18 Jan 2010 00:00:00 GMT

Foreign investment in Estonia could climb as the country's Government strives to reduce its budget deficit, it has been claimed.

If the country meets European Union requirements for entry into the euro it could promote economic stability, something that would help make it desirable for potential investors.

According to CompaniesandMarkets.com the Government is attempting to lower its fiscal shortfall to within three per cent of GDP by privatising its "public obligations".

The report commented: "Our core view is that broad political consensus towards accelerated euro adoption should provide an anchor for economic policy and help prevent any major parliamentary ructions through 2010."

A spokesperson for German foreign minister Guido Westerwelle recently told Reuters that Mr Westerwelle had said to Estonian Prime Minister Andrus Ansip during a stopover in the country that "Estonia is on a good way for euro introduction in 2011".

In an article for the New York Times, Reuters columnist Paul Taylor said that Estonia will be the first Baltic country to join the euro.

Eastern Europe 'rising in popularity'

Sat, 9 Jan 2010 00:00:00 GMT

Eastern Europe is becoming a more popular place to go on holiday, it has been stated.

Francesca Ecsery, the global sales director at cheapflights.co.uk, said the region is increasingly favoured partly because most of its member states lie outside the eurozone and are therefore cheaper for Britons than many traditional places to take a break.

The Baltic states are among these new localities she noted, remarking: "Culture-rich Latvia and Estonia offer an abundance of striking, centuries-old architecture and picturesque coastlines."

She also mentioned that the latter has many medieval castles.

Those keen on investing in tourist rental property may wish to consider buying in Estonia because of such attractions, as the discovery of them by British tourists could help popularise the country as an overseas holiday hotspot.

Estonia may also be boosted by eurozone membership soon, with Reuters columnist Paul Taylor recently predicting in an article for the New York Times that it will be the first Baltic country to join the eurozone.

Estonian property 'seeing recovery'

Mon, 21 Dec 2009 00:00:00 GMT

Estonia's property market is seeing a sudden major recovery, it has been claimed.

According to comments in an Estonian magazine by the chief executive of real estate company Uus Maa Kinnisvaraburoo, Mika Sucksdorff, home sales saw a sudden year-on-year jump of 25 per cent in the 12 months to November 2009, Property Abroad notes.

The portal suggested that as the increase only stood at 1.2 per cent in the year to October, if Ms Sucksdorff's comments are true the situation may well be a result of a rise in foreign investment prompted by growing expectations that Estonia will soon join the eurozone.

It cited as evidence for this the fact that the October increase was concentrated wholly on the capital city, Tallinn.

Those buying in Estonia may be doing so on the basis that prices will not get any lower than they are now as monetary change approaches.

In an article for the New York Times this week, Reuters columnist Paul Taylor claimed that Estonia will be the first Baltic country to join the euro, leaving Latvia and Lithuania waiting for their turn.

Estonia 'likely to be first Baltic eurozone member'

Wed, 16 Dec 2009 00:00:00 GMT

Estonia will be the first of the Baltic states to become a member of the eurozone, it has been predicted.

Writing for the New York Times, Reuters columnist Paul Taylor said many economists believe that all three nations should be admitted now.

He noted that the argument for this is that their combined gross domestic product would only amount to one per cent of the eurozone and therefore could have little negative impact.

Moreover, Mr Taylor noted that there have been complaints that the convergence rules were applied more strictly when denying Lithuania membership in 2007 than in granting it to Italy and Belgium in 1999.

He concluded that EU authorities will only let Estonia in "to avoid creating any precedent for larger newcomers".

Such a situation could mean that Estonia's property market benefits from the economic stability of eurozone membership and takes investor market share away from Latvia and Lithuania.

Earlier this year, EU commissioner for monetary affairs Joaquin Almunia said the Estonian government was doing the right things to ensure the economy meets its convergence criteria.

Estonia in euro optimism

Fri, 4 Dec 2009 00:00:00 GMT

Estonia's property market faces an optimistic future as it is set to adopt the euro as its currency.

The Estonian Free Press commented that the country has undertaken a clear economic and fiscal strategy aimed at achieving the necessary convergence for eurozone entry in 2011, drawing a contrast with the situation in neighbouring Lithuania.

It noted that the contrasting policies of the two countries means Estonia is trying to hold its deficit below three per cent, whereas Lithuania's is three times as large.

The news provider stated that once which has adopted the currency, this will encourage overseas investment in both property and the wider economy, driving prices up.

Such a situation may tempt investors to buy in the expectation of earning capital gains as Estonia enjoys the fruits of eurozone membership.

The prospect of the Baltic country using the euro by 2011 was backed in July by the EU commissioner for monetary affairs Joaquin Almunia.

He said the Estonian government was "doing what it needs to be doing" to meet the budgeting criteria needed to join.

Estonia tipped for strong recovery

Wed, 15 Jul 2009 00:00:00 GMT

Estonia's economy has been tipped to recover very strongly, something that may interest property investors looking at the country.

Chief executive of the Oxford Sustainable Group Hadley Barrett said the Baltic nation has the right government and economic system to make it a good bet for investors this year, Investment Week reports.

He pointed to the lack of a debt overhang in the country as a reason it will do well, commenting: "Estonia is the most investible European country with no debt and therefore expects a stronger GDP [gross domestic product] growth than its peers as we come out of the recession."

Such considerations may interest those specifically looking to buy residential property, as this market could be boosted by a wider economic renaissance.

Another reason investors might be tempted by Estonia is its prospective eurozone membership.

In an interview this week with Reuters, prime minister Andrus Ansip said the government is determined to stay on course to meet the necessary economic criteria to adopt the currency in 2011.

Estonia 'in eurozone by 2011'

Mon, 15 Jun 2009 00:00:00 GMT

Estonia could soon adopt the euro as its national currency, a member of the European Commission has said.

Commissioner for monetary affairs Joaquin Almunia commented that the Baltic country's aim of adopting the euro by the start of 2011 is achievable.

Discussing the level of public debt cuts, he disagreed with those who said these have been occurring too slowly, stating: "I believe that the government is doing what it needs to be doing."

He said to "overreact" in monetary policy matters would lead to the country not achieving the growth it needs.

The prospect of Estonia joining the eurozone swiftly may encourage those thinking of buying property there, as the move may help increase confidence in its economic stability.

In turn, this could encourage more investment and help increase property prices.

Last month, Estonia's central bank Eesti Pank issued a statement saying that the economic prospects were improving, with the rate of decline in industrial output and exports slowing, Bloomberg reported.

Central bank sees brighter future for Estonia

Wed, 20 May 2009 00:00:00 GMT

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.

Estonia property rises in affordability

Fri, 6 Mar 2009 00:00:00 GMT

Estonia has seen the largest reduction in house prices in Europe as the global economic turmoil has taken its toll on the continent's property sector.

The Baltic country saw its prices drop by 23 per cent in 2008, new statistics from the Royal Institution of Chartered Surveyors (Rics) have revealed.

Estonia's figures represented the largest dip in prices among a number of markets undergoing falls, something that may encourage those looking for bargains to consider buying in the country.

In the short term, prices across Europe will continue falling, predicted Rics senior economist Simon Rubinsohn.

He said the subsequent recovery will be partly down to the provision of more mortgage finance.

"But the key to providing support for property markets across the region is effective measures to underpin the economy," Mr Rubinsohn concluded.

Investors have been biding their time for the right moment to invest in Estonia, it was suggested in December.

Head of business development at Quintessentially Estates Lily Simpson made the comments after noting figures from Knight Frank showing a drop in buying in the country in 2008.

Tourist agencies: We’re doing ok

Mon, 16 Feb 2009 00:00:00 GMT

The tourism fair in the weekend showed that this area of business is doing fine, Sven Lõokene, the president of Estonian Organisation of Travel Agents told ERR News...

Swedbank Baltic CEO: Estonia might bankrupt

Thu, 29 Jan 2009 00:00:00 GMT

Erkki Raasuke, the Swedbank Baltic CEO warned that if the state cannot do necessary cuts we’ll go bankrupt, Eesti Päevaleht writes...

Estonian real estate developer Onix Invest in debts

Tue, 27 Jan 2009 00:00:00 GMT

Real estate developer Onix Invest, which belongs to Kalmer Kriisa and Raoul Juhanson, has debts to the state and the banks, Äripäev writes...

Estonian Air could take the place of flyLAL

Thu, 22 Jan 2009 00:00:00 GMT

After flyLAL’s operating licence got cancelled, there is a hole on the local aviation market that might be filled by Estonian Air, Äripäev quotes Postimees.ee...

The value of real estate transactions down by 45 pct in the Q4 yoy

Wed, 21 Jan 2009 00:00:00 GMT

In the Q4 of 2008 the value of real estate transactions was EEK 7.681 bln, which is 45 pct less than in the Q4 of 2004, when the value of real estate transactions amounted to EEK 14.048 bln, ehitusuudised.net reports...

Real estate developer left debts to buyer

Mon, 19 Jan 2009 00:00:00 GMT

Merike Tubli, who bought two apartments from two developers – Baltic Furniture and Hansa Varahaldus, had to pay their utility debts on the apartments as well, Tartu Postimees writes...

Estonia is on 13th place for economic freedom

Wed, 14 Jan 2009 00:00:00 GMT

Estonia got 13th place in the world ranking amond 183 countries and 6th ranking in Europe's economic freedom in the chart 2009 Index of Economic freedom...

IMF: Estonia is in the best condition among Baltics

Mon, 12 Jan 2009 00:00:00 GMT

For the reserves Estonia has, it is in the best condition among Baltic countries, Christoph Rosenberg, head of the International Monetary Fund’s mission to central Europe, said, arileht.ee writes...

Ober-Haus: Few real estate companies can manage alone

Mon, 12 Jan 2009 00:00:00 GMT

The merger of Pindi and Vestman is a logical step for few real estate companies can manage alone, Rain Rätt, the analyst at Ober-Haus told Postimees.ee...

Avaron established new investment fund

Mon, 12 Jan 2009 00:00:00 GMT

The fund governor Avaron established new flexible investment fund Avaron’s Private Portfolio that may invest into different asset classes, aripaev.ee reports...

Estonian analysts expect the economy to shrink 4.5 percent in 2009

Mon, 5 Jan 2009 00:00:00 GMT

Estonia’s leading analysts expect the average economic decline to be 4.48 percent this year, writes Postimees...

Residents determined to block a huge wind power park on Hiiumaa

Mon, 5 Jan 2009 00:00:00 GMT

Residents of the Hiiumaa island are collecting signatures against plans to build one of Europe’s largest wind power parks on the island...

Danske Bank pulls the plug on Q Vara

Wed, 31 Dec 2008 00:00:00 GMT

Danske Bank that is the guarantee and paying agent of bonds issued by Estonian real estate company Q Vara has decided that enough is enough...

Estonia investors should "hold out for three months"

Thu, 25 Dec 2008 00:00:00 GMT

Investors considering buying property in Estonia have been advised to minimise their risk by holding off from making a purchase for the next few months.

Head of business development at Quintessentially Estates Lily Simpson stated that due to the current volatility of the economy, it is important that buyers take time to study the market.

"Hold out for three months [and] reassess the market then," she remarked, adding that it is "really important" investors do not stray too far from the capital city of Tallinn – which she stated will be the "main area" for investment due to cheap access by air - and Parnu when looking for property to buy.

Doing so is "almost too much risk" and investing in a city property carries fewer potential downfalls, she noted.

Ms Simpson's advice follows the publication of new data by Knight Frank, which revealed annual growth of global house prices – excluding those in Dubai – slowed to 3.8 per cent in the fourth quarter of 2008.

Estonia property market 'could attract investors' in 2009

Tue, 23 Dec 2008 00:00:00 GMT

Estonia has been identified as one country where overseas property investors could benefit in 2009.

Head of business development at Quintessentially Estates Lily Simpson explained that recent Knight Frank figures - which showed a 16 per cent fall in investment in the country over the last year - mean that investors are biding their time in order to move into the market at the right opportunity.

"They do not want to miss the trick completely but at the same time they don't want to invest too early and lose out," she explained, adding that the second half of next year is likely to bring an increase in the number of buyers purchasing property in the country.

She stated that rental yields in Estonia are currently sitting between seven and nine per cent, noting that buying at the right time can result in a good return on an investment.

According to the Global Property Guide, prices in Estonia's capital Tallinn fell by 11.02 per cent in nominal terms during 2008.

Researcher: wind parks to send power tariffs skyrocketing

Mon, 22 Dec 2008 00:00:00 GMT

Anto Raukas, senior researcher of the Tallinn Technical University, believes that electricity tariffs are likely to go up several times because of development of wind power parks...

Former top-bankers established new investment bank

Fri, 12 Dec 2008 00:00:00 GMT

Veikko Maripuu, Mart Altvee and Aare Tammemäe have established an asset management and financial consulting company...

President: Estonia must pay painful price for the budget policy

Tue, 9 Dec 2008 00:00:00 GMT

Estonian President Toomas Hendrik said that Estonia must pay painful price for last years’ budget policy, ERR News reports...

Swedbank Baltic CEO expects lending flat next year

Fri, 5 Dec 2008 00:00:00 GMT

Swedbank expects no growth in its Baltic credit portfolio next year, the head of the Baltic business said, underlining the challenges the region faces in its hard landing after years of expansion...

Real estate prices in Tallinn Old Town keep going up

Wed, 3 Dec 2008 00:00:00 GMT

Postimees writes that real estate prices in the Old Town of Tallinn have been increasing while falling everywhere else...

Savisaar: PM is doing the right thing about Estonian Air

Wed, 3 Dec 2008 00:00:00 GMT

Edgar Savisaar, chairman of the Centre Party, writes in Eesti Päevaleht that Estonia should follow the lead of other countries and support the enterprises such as Estonian Air...

Estonian construction capacity down 16 pct

Mon, 1 Dec 2008 00:00:00 GMT

In Q3 the total production of Estonian construction enterprises in Estonia and in foreign countries decreased 16 pct, Estonian Statistics announced...

More real estate buyers seek to annul contracts

Mon, 1 Dec 2008 00:00:00 GMT

Estonian lawyers say that the number of real estate buyers who are seeking to annul contracts is increasing...

Residents complain about poor roads of new housing developments

Fri, 28 Nov 2008 00:00:00 GMT

Residents of new housing developments outside the city limits are complaining about poor roads...

The future of Estonian Air is splitting businessmen into two

Fri, 28 Nov 2008 00:00:00 GMT

Estonian businessmen are divided over what the state should do in terms of its holding in national carrier Estonian Air...

EU report: Baltics risk painful economic adjustment

Fri, 28 Nov 2008 00:00:00 GMT

Estonia, Latvia and Lithuania may undergo a protracted and painful economic slump because the governments of the Baltic states failed to contain runaway credit and inflation, a European Commission report says, Bloomberg reports...

Estonian development fund lost nearly EEK 200 mln

Fri, 28 Nov 2008 00:00:00 GMT

Estonian Development Fund lost nearly EEK 200 mln from the beginning of the year, since no one did anything with the assets, aripaev.ee mediates dv.ee...