| |
| |
|
Real Estate Information |
|
|
Investing in the Baltic Tiger: What Has Estonia Got to Offer?
Estonia's reputation is growing within the property investment market. Rising far above her new European neighbours in terms of infrastructure and growth, Estonia is fast becoming the Baltic's very own 'Tiger' economy with a healthy growth rate of 5.5% in 2004. In fact, all the economic indicators are looking very positive with employment growing steadily last year in construction, transport and communications, areas that suggest a growing emphasis on attracting inward investment and a strong property development market. All these factors have contributed to Estonia being ranked 28th in the IMD's "World Competitiveness Yearbook" of 2004 and 6th place in the Heritage Foundation's "Index of Economic Freedom" of 2004. The rankings are a further affirmation of Estonia's positive economic development, which stands in contrast to many European states, which are now experiencing economic slowdowns. The 'interest war' of early 2004, helped fast track thousands of Estonians onto the property ladder and the trend has continued. While interest rates are set to stabilise, the number of property transactions every year in Estonia is growing by on average 16 %. The current interest rates are 60% lower than they were three years ago, so it's not surprising that home loans are at an all time high. Banks are offering mortgages for as little as 3%. The consequences? Estonia is not cheap, well not that cheap. Demand by Estonians for property has pushed prices far beyond the average that one would expect to pay in other Central and Eastern European countries. On the other hand, it is packed with charm and the character of Tallinn's 'old town' is something many are prepared to pay for. Prices in Estonia rose on average by 10% last year and there is nothing to suggest that the trend won't continue this year and for several years to come. The most expensive housing is situated in the old town and city centre areas. You might expect to pay between ?1800 and ?2400 per sq metre in the more exclusive streets of Tallinn's old town. However, the average price level in Tallinn is around ?900 - ?1200 per sq m. In Tallinn's suburban areas, prices can be as low as ?550 per sq. metre for older apartments. You shouldn't expect to pay much more than ?700 per sq. metre. For newer apartments in the suburbs prices range from ?900 to ?1600 per sq. metre. Over the past five years prices in Tallinn have increased by more than 100%. Most new builds sell off the plans and are sold complete with interior decoration. Estonia does not place restrictions on foreign citizens and foreign companies purchasing apartments, houses or buildings. Foreign companies and individuals also have the first option of buying the land under the buildings they have acquired. However, when buying large areas of forest and agricultural land, Estonian policy requires that a company must be registered in Commercial Register and must have been active in areas of forestry or manufacturing of agricultural products for at least past three years. Buying property in Estonia is a relatively straightforward and safe procedure. The wheels of the bureaucratic machine move fairly efficiently, meaning that title can be transferred in as little as four weeks. Foreigners were known to have paid higher prices in the early 1990s, but the market has matured. Foreigners are now developing many of the new properties in Estonia. This combined with the closing gap between foreign and local salaries means that far fewer people, foreign or local, are being taken advantage of. Most agents meet certain standards within real estate protocol and foreigners getting fleeced is no longer something to be overly concerned about. Estonia's future is definitely bright and the roar of the 'Baltic Tiger' may well echo the roar of the 'Celtic Tiger' that saw property prices in Ireland increase by 187% between 1997 and 2004, the highest increase in Europe. Tracey Meagher runs many property newsdesks, including Property Newsdesk Central and Eastern Europe and Property Newsdesk Estonia To learn more about investing in Property in Estonia visit TallinnProperty
MORE RESOURCES: This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news
Google News |
|
|
|
RELATED ARTICLES
What We Do To Sell Your Property! Once you have contracted us to sell your property we go to work for you to bring you the most money and best price for your property as quickly as possible. Some properties are faster selling than others based on the location, condition, size, price, of course, and type of the property. How to Afford Your Dream Home Is it your dream to one day own a holiday home in the sun; a beautiful house where you can escape, relax and be free of the worries that seem to go hand in hand with every day life?Well, you're not alone!A recent survey by a well known mortgage lender in the UK revealed that up to one in three Britons not only dream about owning a home in the sun but fully intend to make that dream a reality some day. And in the US the number of Americans planning to one day buy that ideal second home haven is now up to three in ten people. Purchase Your First Home with Confidence If you are making the transition from renter to homeowner, you're not alone. In 2004, 40 percent of homebuyers were purchasing for the first time, according to "The 2004 National Association of REALTORS Profile of Home Buyers and Sellers. How To Increase Your Homes Selling Price by $3,306.75 In The Next 33 Days According to the Federal Housing Finance Board:.. The Perils of the Property Ladder: Has Anyone Noticed the Silence? There was a time when every conversation was focussed on property and every other TV programme was about property makeovers. Everybody wanted to get into property and those already on the ladder seemed fixated on becoming wealthy overnight. Youre Not Paranoid: The House Really Hates You If you've just bought a house, you may be able to relate to a fascinating essay in Maya Angelou's book, Even the Stars Look Lonesome.When Ms. Tax Deferred Exchanges of Investment and Business Real Estate The Primary Residence taxation, the Residential Replacement Rollover, Sec. 1034 exception is gone. Understanding Title Insurance Title to a property is a record detailing the owners of the property and rights associated with the ownership. Title typically shows a progression of ownership from the first owner to the current one. Listing Real Estate Online - Top Tactics for Boosting Sales Listing real estate online can be a great way to let buyers know what is out there and it gives sellers a chance to show their home to people all over the world. However, the problem lies in the fact that most people still want to tour the home, inside and out, before buying it. Understanding Real Estate Terminology Purchasing a home can be a complicated and confusing process, especially for first-time buyers. Throughout the process, first-time home buyers will encounter a variety of unfamiliar real state terms. The Devine Secrets Of The Ya Ya Lease Purchase Hood The biggest secret of conducting a successful lease purchase business is to have a plan. I know don't grown. Minneapolis Warehouse Loft Downtown Minneapolis is rich with true metropolitan charm. With the growth of an incredible entertainment district, a wonderful artistic community, and all the opportunities of a large urban center, downtown Minneapolis is pleasantly thriving. Secrets of Making Money from Real Estate - Part 1 There are three investment vehicles which can make you rich. Stocks, businesses, and real estate. The Pros and Cons Of Hiring A Real Estate Lawyer You're travelling in a foreign country and you get arrested for something that you didn't even know was against the law. The potential fine is huge, more than you earn in 10 years. The Benefits of Fractional Ownership in Private Residence Clubs A New Way to Own a Vacation Home - For the Select Few: Fractional ownership of vacation homes, also called private residence clubs, is a relatively new concept that allows you to enjoy four to 12 weeks of home ownership privileges per year at an upscale, luxury resort but at a fraction of the cost of whole ownership.If you want to own an impressive second home complete with personalized services and located in an expensive resort area but can't quite justify the expense because you'll only be using it a few weeks or months of the year, this type of real estate arrangement may appeal to you. The Secret Jewel in the Mediterranean Crown Since the Northern Cypriots famously voted 'yes' to the UN backed Annan plan for the peaceful reunification of Cyprus in 2004 the world has awoken to the secret and hidden beauty of this untouched jewel in the Mediterranean crown. Those open-minded and individual thinkers seeking elegant living, unrivalled Mediterranean-region investment property opportunities or their own hideaway are today embracing Northern Cyprus. What are the Elements in Real Estate? Each element has a specific color associated with it. Because color (light) vibrates and is such a high frequency, it immediately lifts the "energy vibration" in our listings. How to Become a Successful Real Estate Investor Many folks dream of becoming real estate investors, but not everyone has what it takes. If you're dreaming of becoming an investor, here are several important questions to consider, long before you buy your first investment property:1) Why would a homeowner sell a house at a bargain price?Many things happen in people's lives that make their home suddenly become a burden. Foreclosure Foreclosure under a mortgage requires a court ordered sale conducted by the sheriff or other court-appointed official. Foreclosure process is called judicial foreclosure. Real Estate Investing By The Numbers Just like most things real estate investing can be broken down into easy to learn step.Step One - Learn the basics:Ownership of real estate is evidenced by a valid deed.
|
| home | site map |
| © 2006 TIGER MEDIA |