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Buying Property in Estonia

Discussion in 'Buying Overseas Property' started by malachi, Sep 5, 2006.

  1. malachi

    malachi New Member

    Hello everyone,
    I am thinking of investing in property in Eastern Europe but am not sure which country to invest in. I have done some research on Estonia and came across a very useful buyers guide/report on the Estonian property market on Property in Estonia - Holiday Homes, Land, Apartments & Investment Properties in Estonia. Does anyone have any experience of this company, Property in Estonia, or any information about whether Tallinn and Estonia are good locations to buy apartments? I am interested in buying off-plan if possible. Are there any other good locations in Eastern Europe that I should be looking at?

    Any advice/information greatly appreciated.

  2. marc

    marc New Member

    Hi Malachi,

    It is interesting to hear you're thinking of investing in property within Eastern Europe. I can't speak from personal experience, but I have noticed a growing interest in Bulgaria on this site and other expat publications, so that might be worth a look. One of our members "AdrianM" runs or works for a property company there, so you could try contacting him - perhaps send him a private message?

    Hope you hear from others who can advise you.

    Good luck,
  3. mathew

    mathew New Member

    Hello Malachi,
    Tallinn is ok but has become quite expensive in the last two years but look at the alternative in Estonia......Parnu ! The holiday capital.
    Good holiday homes and great investment. We have houses from ?8,000 and also talk of the new airport (which has already been built)opening soon which will put prices up. We also have lots off plan which seem to be moving very quickly because in the summer you can not get a hotel room.
    Any more info then contact me.
    Thanks a lot
  4. peterjack

    peterjack New Member

    Thanks for the info, but how about getting a house loan there? Can U.S. citizens even do that? I talked to SEB (bank there) and they told me that don't allow US citizens to open accounts there (I guess unless you have some sort of working visa).
  5. bulbasaurus

    bulbasaurus New Member

    You have missed the boat on Tallinn prices are already high and the Financial Times reported that they had dropped 10% in the last six months. Also places like Tallinn are suffering population declines so you have to wonder if demographics will give a negative outlook on this location in the long term.

    Of course if you want to build a hotel and with tourism rising that is another matter.

    There really is nothing that cheap E Europe any more - probably every market has doubled minimum in the last 3 - 4 years. USA may be worth looking at now with its very weak currency and significant declines in capital values although it may plateau for a couple of years.
  6. meriaKre

    meriaKre New Member

    For the ones that missed the boat, there is still a chance.

    Just think about it.
    You can buy an offplan 2 rooms appartment of 80 sq m for as low as 40000 euro. And this in the center of Chisinau (the capital),
    In 12-18 months, when the building is ready, you can easily sell it for 60-65K

    Usually, in Eastern Europe, the prices are high only in the capital, and maybe 2-3 other big cities. In rest, the prices are more then a bargain.

    If any interest, dont hesitate to contact me.

    Thank you in advance.
    Take care!
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