Estonia, EU – Baltic States, Investments, Real Estate

International Internet Magazine. Baltic States news & analytics Saturday, 23.02.2019, 11:06

Finns remain major investors on Estonian real estate market

Juhan Tere, BC, Tallinn, 26.01.2011.Print version
In 2010, every tenth person to invest in residential real estate came from abroad. Estonia's biggest real estate company, Uus Maa, said a tenth of its customers come from Finland, LETA/ERR reports referring to Helsingin Sanomat.

A typical Finnish customer is looking to buy a two-bedroom apartment in downtown Tallinn while summer homes are most popular on the island of Saaremaa, and the coastal towns Haapsalu and Pärnu.

 

During the worst recession, Tallinn saw the sharpest property market decline of any European city, as prices fell 60% below the profit peak in 2006. Residential construction basically froze.

 

In 2010, Tallinn real estate – which makes up half of Estonia's property sales – made a seven% rise.

 

Speculators believe end-of-the-year sales could have been related to the euro transition. In November and December, 19% more deals were made than in the previous year. However, business in January has been slower than in 2010.






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