In an Estonian average, 5.7 years’ mean net wages have to be paid on a transaction with an apartment. In Harju County, wages are higher; however, real estate there is also the most expensive. As a result, far more – 7.4 years’ wages – has to be paid on an average transaction with an apartment…
Financing & Mortgages
The average residential mortgage loan in Estonia fell to €36,802 in Q3 2013. However, the changes are not significant – the loan balance a year ago was just 1% bigger than today. The average loan amount is decreasing mainly as a result of new residential mortgage loans. The total number of residential mortgage loans just…
According to the Bank of Estonia, the balance of loans granted for investment properties and development in Q3 2013 was €1.7 billion. This is 4.6% less than in the previous year. The loan balance of retail property financing has decreased by 21% and the loan balance of residential development by 17%. The decrease in the…
According to Tõnu Toompark’s Estonian property Adaur blog, morgage rates in Estonia have fallen to a level of 3.15 per cent at the end of the first quarter of 2012. The only other time when such a low level of domestic rates was reached was back in 2005, writes Tõnu And whilst interest rate margins…
We have just been putting the finishing touches to a fresh copy of our quarterly review of the Tallinn property market and the review. Our latest Tallinn Property and Rental Market Quarterly Review covers all developments in the third quarter of 2011, and as always the review contains a brief look at the Tallinn residential…
Euro-based home loans rates have remained unchanged in the range of 3.2 to 3.4 per cent, despite small rises in the Euribor index of European lending rates since 2009, according to Tõnu Toompark on his adaur.ee blog. The monthly rate stood at 3.4 per cent for March, whilst the Euribor index over the same period…
Tallinn Property and Goodson & Red are pleased to announce that our latest Tallinn Property and Rental Market Quarterly Review is ready. Covering all developments in the first quarter of 2011, as always the review contains an in-depth look at the Tallinn residential market, the situation regarding mortgage loans, information on average asking and transactional prices,…
The European Central Bank (ECB)’s decision to raise the base lending rate to 1.25% on Thursday last (7th April) perhaps comes as no surprise, and it seems likely that further rises are due for the course of 2011. Since many Estonians hold their mortgages in variable rate packages which follow the base rate, this means…
To wrap-up 2010 and look ahead to 2011, please don’t hesitate to check our latest Tallinn Property and Rental Market Quarterly Review. As always our review contains an in-depth look at the Tallinn residential market, the situation regarding mortgage loans, information on average asking and transactional prices, the current state of the central Tallinn rental…
Just finished polishing our fresh report of housing and rental market in Tallinn. Using partially the words from the preface of our review – participants in the economy have largely been communicating positive messages and making promising forecasts through the whole summer period. This obviously applies also to property markets. It seems likely that the market decline has…