Published on 25 January 2007 at 12:53 pm
Filed in Property News for Estonia » Will Property Prices in Estonia Continue to Rise?
According to the Royal Institution of Chartered Surveyors’ European house price inflation league, Estonia has enjoyed the most significant gains in underlying property price for the last two years in a row. Much has been made of this fact in the media and many interested buyers have been hunting around for information about the types of property they should be buying and the most ideal locations for purchase - but it’s actually quite disconcerting that so much attention has been given to the fact that Estonia has been at the top of the league with focus seemingly solely centred on the huge rate of growth witnessed in property prices.
Why has so little attention been given to the reasons behind the rapid and dramatic rate of property price inflation in Estonia? Surely understanding the factors driving the market is actually key to answering the question on everyone’s lips – namely ‘will property prices in Estonia continue to rise?’
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Despite the fact that freehold ownership of real estate in Estonia has only been possible since the end of Soviet occupation, the property buying process in Estonia is well established, straightforward and inexpensive.
More positive features that help define the appeal of the investment property market in Estonia are that mortgages are now available for foreign buyers, and those who wish to own more than one property and who purchase through an Estonian limited liability company can save significant tax on profits and gains.
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Property investment interest in Estonia is currently centered upon the capital city of Tallinn where substantial profits and steady rental yields have already been recorded.
The attraction of the property market in general in Estonia is centered upon the fact that the Estonian economy is doing incredibly well and that both local and overseas demand for quality housing stock to buy and rent is beginning to outstrip supply.
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Completely free from the shackles of Communist domination since August 20th 1991 this tiny Eastern European country of Estonia is now home to a prospering economy, growing numbers of wealthy middle class citizens and a strong and solid returning real estate market which is beginning to attract increasing numbers of international property investors.
Property investors are particularly attracted to real estate in Tallinn which is the capital city of Estonia, by the stability of the Estonian economy and by the long term capital growth prospects the country offers property buyers.
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