Real estate transactions rise in Estonia
By Steve Binge

Real estate transactions rise in Estonia

There was an increase in the volume of property sales completed in Estonia during 2011.

According to figures published by Statistics Estonia, the number of transactions in the country's real estate market climbed by three per cent compared to 2010.

Meanwhile, the average value of a residential property in Estonia was up by one-fifth in the same period and now stands at €47,528 (£39,808).

The organisation pointed out real estate assets located in the northern regions of the nation experienced the biggest price rises, jumping by 32 per cent during 2011.

In central Estonia, the cost of buying a home was up by 14 per cent, while increases of eight per cent and one per cent were recorded for the north-eastern and western areas of the country respectively.

The Knight Frank Global House Price Index for the third quarter of 2011 revealed the value of residential property in the nation rose by 14.3 per cent compared to the same period in 2010, while a quarterly hike of three per cent was also experienced.

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