Real Estate Information

Luxury Real Estate Information


Rancho Palos Verdes, California Homes
Palos Verdes, California Homes
South Bay, California Homes
Luxury Mexican Beachfront Homes

Featured Properties


Oceanfront Estate Near Trump National

Related Information


Loan Information
Real Estate Information
Mortgage Refinance 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


Real Estate Happenings
Charleston Post Courier
WHAT: This inaugural golf tournament fundraiser is sponsored by Berkshire Hathaway HomeServices Southern Coast Real Estate, with 100 percent of the proceeds going to nonprofit The Sunshine Kids Foundation (www.sunshinekids.org) providing group ...



Naples Daily News

Real estate briefs
Naples Daily News
Free real estate seminar. Naples' top real estate professionals are holding a public talk to help homebuyers and sellers avoid making common but harmful mistakes. According to local Realtor Jim York, who will be one of the professionals at the seminar ...



Real estate transfers: Reported Oct. 21, 2018
Herald-Whig
Real estate transfers recorded in the office of Adams County clerk and recorder. Quincy area. Russell F. Rohrer, property at 2000 State St., to Elias M. Wigfall and Lachelle M. Wigfall. Melissa R. Hinkamper, property at 1212 N. 20th St., to Melissa R ...



Real estate transfers for Oct. 21, 2018
Roanoke Times
Federal National Mortgage Association to Morris Real Estate Management LLC, 1813 Eastgate Ave. N.E. Roanoke VA 24012, $64,900 10/02/2018. HSBC Bank USA to Victoria L. Epperly, 3401 Birchwood St. N.E. Roanoke VA 24012, $71,000 10/04/2018.



Washington Examiner

Treasury makes real estate a winner of tax law's 'opportunity zones'
Washington Examiner
The Trump administration released the first draft rules for an ambitious plan to provide tax breaks for investment in economically disadvantaged areas labeled “opportunity zones'” on Friday, and real estate appeared to be the big winner. “We want all ...
Opportunity Zones Frequently Asked Questions | Internal Revenue Service - IRS.govIRS.gov
View Interactive Map - ArcGIS OnlineArcGIS Online
REG-115420-18 - IRS.govIRS.gov
Urban Institute
all 163 news articles »


Forbes

Six Skills Real Estate Investors And Developers Need To Develop
Forbes
Being a successful real estate investor or developer requires the unique ability to see an opportunity where others do not. Looking at trends in other successful markets and recognizing those trends elsewhere are key factors in identifying opportunities.



Wall Street Journal

The Bullies of Real Estate
Wall Street Journal
“Bullying is rampant among real-estate agents, but you see less of it among the top-performing agents. The most common form of bullying here is a passive-aggressive running of the clock, which usually happens when buyers and sellers are negotiating ...



Omaha World-Herald

La Crosse County real estate transfers for Sunday, Oct. 21, 2018
La Crosse Tribune
The following are real estate transfers filed in La Crosse County. By law, some transfers are exempt from transfer fees; these properties are listed without prices. Bangor. Matthew and Tyffany Gasper to Kory and Olivia Freeberg, 2107 Henry Johns Blvd., ...
Residential real estate transfers, Oct. 21Omaha World-Herald

all 2 news articles »


Real estate transfers
The Steubenville Herald-Star
St. Joseph Monastery to Maria Benavides, lot 46, Becker Highlands. Charles McIlvain to Robert and Megan Knutsen, 9.509 acres, Mount Pleasant Township (survivorship). Melissa and Robert Supanik to Jared Bloom and Kathryn Shook, 0.219 acre, Warren ...



Bloomberg

The Latest Real-Estate Business Is Storing Rich People's Cars
Bloomberg
It's easy enough to build a basement cellar for your collection of Lafites and Latours or clear some wall space for your Richters and Basquiats. But try finding room for a dozen or so vintage Ferraris, Porsches and Plymouth Barracudas. In this dilemma ...


Google News

home | site map
© 2006 TIGER MEDIA