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…
Economy
According to a recent report on the Statistics Estonia site, economic growth in Estonia grew by two per cent y-o-y to Q2 2012. However, GDP only grew by 0.4 per cent, when seasonal and work-day factors are taken into account, between Q1 and Q2. Most of the growth came from the construction, information and communication…
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…
More hopeful signs of economic recovery in Estonia comes with a recent report on the Statistics Estonia site which states that retail sales in Estonia increased by seven per cent y-o-y to June 2012. Furthermore this trend has been continuing since March 2012; every month between March and June saw an increase in retail sales…
Bond credit raters Moody’s Investor Services have affirmed Estonia’s A1 government bond rating and stable outlook. As reported on this blog, Fitch had already upped Estonia’s rating to A+, so this is more good news. The rating was based on factors including the Estonian government’s budgetary rigour and financial strength during the continuing crises of the 2008-10…
An item first published on this blog on 6th July, 2012. An interesting and detailed post here, from the redoubtable Edward Hugh, about one of the two other CEE countries, apart from Estonia, that have acceded to the Eurozone, namely Slovenia (the third country is Slovakia). Having consistently outperformed Estonia and even ‘older’ Eurozone countries…
According to Tõnu Toompark on his adaur blog, 96 per cent of residential dwelling space in Estonia is in private hands. The total number of residential items comes to 657 800 units, only a small increase on the last 12 years, with only three per cent of dwellings owned by local governments and one per…
An article first published on this blog on 11th July, 2012. As we previously blogged about, the electricity market in Estonia, hitherto having been a state monopoly, is due to be open to the market come January 2013, with all the pros and cons that this entails (our previous article lists some of these if…
Citing figures from the Estonain statistics office, Tõnu Toompark has reported on his Adaur blog that the total number of newly constructed residential units compared with the existing housing stock has increased by 0.4 per cent y-o-y, to 2012. The actual area of residential space versus existing stock increased by 0.68 per cent over the…
A recent report on the Estonian Statistics Office site has stated that May 2012 saw a decrease in exports y-o-y of some eight per cent at current prices. This needs to be seen in the context of May 2011’s figures being at a record high however, according to the report. Meanwhile, imports remained steady and…