Property for Sale in Estonia

Location, climate, economy

Estonia (officially the Republic of Estonia) is a country located in Europe (in the northeastern part). From the north, the country is bordered by the waters of the Gulf of Finland, from the west by the Baltic Sea and the Gulf of Riga. It includes many islands in the Baltic Sea (the area is 4.2 thousand sq. km). The country is a member of the EU, UN, NATO, and Council of Europe.

The climate is transitional from temperate maritime to temperate continental (mild winters, cool summers). Due to the cyclones of the Atlantic, the climate is humid.

The economy is based on the energy, chemical, engineering, pulp and paper, and woodworking industries. The service sector is developed: trade, financial, tourism, audit, transportation, warehousing, etc.

Real estate market in Estonia

Demand for real estate in Estonia, especially residential apartments, has grown significantly over the past two decades, while the supply is limited. A high level of inflation leads to a revaluation of the market. According to experts, in the near future the cost of real estate in Estonia will continue to increase, and the availability of housing will decrease. Now loans are issued in a smaller volume, but investors and banks are more reliably insured. Prices are also rising due to a shortage of labor and building materials, residential real estate in Estonia will be built in a smaller volume, many construction projects may be suspended.

Nevertheless, although the ratio of the cost of housing and wages is now somewhat worse for the buyer, there is reason to believe that the situation on the market will become more favorable as the global force majeure circumstances are eliminated, international tensions are removed, the energy market is stabilized and logistics is fully restored. Foreign investors generally do not lose interest in real estate projects, a large number of migrants come who are ready to invest in real estate or replenish the number of tenants, which also stimulates solvent demand and creates a favorable basis for market stability. Reviews of homebuyers in the residential complex report that the facilities being built meet construction quality standards.

Real estate price in Estonia (sq.m)

An apartment on the secondary market can be purchased at a price of 950 euros per square meter. In provincial towns, you can buy an old apartment that needs renovation at a price of 400 euros per square meter. In Tallinn, the price of a non-new apartment is approximately 1,500 euros. Apartments in new buildings in popular areas of the capital - from 2,500 euros and much more.

An elite new cottage costs from 2,000 euros (but, as a rule, with a large total area) per square meter, in the same price category as houses in resort areas.

Land plots - from 30 euros. If the land is located in an area close to the capital, or in a resort area, near a forest, a lake, then the site will cost much more.

Given the significant dynamics of price changes, it is necessary to use only information that is relevant at the time of the request.

Property types for sale

The following types are on the market:

• residential (primary, secondary) - apartments, houses, cottages, etc.,
• commercial fund (hotels, shops, warehouses, offices, etc.),
• land plots.

Real estate website in Estonia

The sale of real estate in Estonia is regulated in detail by law, transactions are transparent and safe, however, in order to minimize risks when concluding transactions, it is advisable to use the information of experts and follow their recommendations. The real estate website GEOLN.COM (with a convenient search interface) contains a full real estate catalog in Estonia with various properties for sale.

Buying real estate in Estonia by foreigners (nuances)

Foreign buyers have access to real estate in different parts of the country, with some exceptions. Citizens of countries that are not members of the European Union are prohibited from acquiring land and private houses in territories close to state borders, both land and sea, they also cannot buy real estate in Estonia on the islands, land and forest plots with an area of more than 10 hectares. The country does not provide for the issuance of a residence permit or citizenship for the purchase of real estate, it is only possible to extend the Schengen multivisa for the validity of a foreign passport.

Buying real estate in Estonia is beneficial for the purpose of income from renting the housing, living in a European country popular with tourists, with a stable economy, the presence of all conditions for free development.