Baltic States – CIS, Estonia, EU – Baltic States, Legislation, Real Estate

The total value of real estate transactions conducted by foreign residents, measured as a ratio to the total value of all transactions, was lower than 3% in the seven-year period. In most of the transactions apartments, not agricultural or forest land changed hands, data available from the Land Board shows.

Foreign residents have brought 477 million euros into Estonia by means of real estate transactions since 2008. Sale of real estate has earned foreign residents 385 million euros.

Residents of 76 countries have sold property in Estonia and 88 have bought property in Estonia during the seven years. Residents of Finland, Russia and Sweden make up the biggest numbers among them.

The biggest numbers of real estate transactions involving a non-resident were registered in 2008-2015 in the Harju and East-Viru counties.

The share of transactions involving a foreign resident used to grow until 2012. From 2013 onwards the share of non-residents has been declining at a rapid rate especially among acquirers of real estate. This can be attributed to the weakness of the economies of neighboring countries as well as an increase in realty prices in Estonia, the Land Board said.

The survey views residency as the country of permanent residence of a physical person, country of registration of a legal person, and country of location in the case of other entities.