The Tallinn Main Street design contest winner has been been declared. In three years, according to the plan, the fresh concept will alter the face and ways of the heart of Tallinn. The winner of the Tallinn Main Street design contest is «Kevad linnas» (Spring in the City) with the accent on creating a humans based space and…
Real Estate Estonia
In Q3 2015, 9 769 transactions with housing were effected in Estonia. At the same time, 983 units of housing received permits for use. Assuming hypothetically that under the conditions of a stable market the number of transactions effected with housing is roughly the same as the number of units of housing completed, it may…
According to Statistics Estonia, 983 units of housing received permits for use in Estonia in Q3 2015. These are some of the highest levels in the past five years, more than double the number of permits for use a year ago. At the same time, the floor area of housing completed was 98 600 m². This…
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…
According to Statistics Estonia, in the 3rd quarter of 2013 436 dwellings with total floor area of 48 400 m2 were completed, i.e. were granted the permit of use. Compared to the same time of previous year, the number of dwellings that were granted the permit of use increased 13 and their floor area 12%.
According to Statistics Estonia the consumer price index of October is 1,5% higher than that one year ago. At the same time housing expenses have increased as much as 8% in one year. By today, in comparison with the year 1997, the consumer expenses have almost doubled and the housing expenses have increased 3,2 times….
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 a recent article in the Estonian Press Digest from News2Biz, July 2012 saw something of a fall in real estate prices in Estonia as a whole, but at the same time real purchasing power (in Tallinn) for those wishing to purchase property also fell. Citing real estate giant Pindi Kinnisvara‘s index as falling…
According to a report by Tõnu Toompark on his adaur blog, investment in real estate in Estonia has increased by 24 per cent y-o-y to the first quarter of 2012. Citing figures from the Estonian Statistics office, investments from Estonian companies into plant and equipment fixed assets came to a value of 506 million Euros in…