Here are some of the most frequently asked questions about real estate in Estonia:
Can foreigners buy property in Estonia?
Yes, foreigners can buy property in Estonia without any restrictions. Buying property in Estonia is an easy and a quick process. Non-residents and foreign companies are allowed to buy property in Estonia on the same terms as residents. It is more complicated if you are coming from a country under sanctions.
What are the transaction costs associated with buying property in Estonia?
The transaction costs associated with buying property in Estonia include a state fee, notary fees, and the cost of registering the property. The total cost can range from 2-3% of the purchase price. Here is the official Chamber of Notaries website where you can find more information about the notary fees (use google.translate to translate it in English) https://www.notar.ee/et/teabekeskus/notari-tasu-kalkuleerimine
What are the average house prices in Estonia?
The average house prices in Estonia vary depending on the location, size, and condition of the property. According to the Estonian Land Board, the average apartment price in Estonia was 1,893 euros per square meter in the second quarter of 2021 and by 21.02.2022 the average price was 1886.20 EUR according to www.kv.ee . You can also visit some of the properties here https://www.youtube.com/@GeorgiZanev (video tours properties we have sold or are selling)
What is the process of buying property in Estonia?
The process of buying property in Estonia typically involves finding a property, signing a sales agreement, paying a deposit, and completing the transaction through a notary. Be extremely careful paying any amounts directly to sellers and arrange all payments through Notary account.
What taxes are associated with owning property in Estonia?
Property owners in Estonia are required to pay an annual land tax, which is based on the value of the land and generally is very low being 2.5% of the tax value of the land which is indexed once every 20 years.. The tax rate varies depending on the location and value of the land and in some boroughs the primary residence is exempt from this tax.
What are the most popular areas to buy property in Estonia?
The most popular areas to buy property in Estonia are Tallinn, Tartu, Pärnu, and Haapsalu. These areas offer a range of properties, from apartments to houses, in different price ranges. As an additional hint 70% of all the economic activity is conducted in Tallinn and Harju County
What is the rental market like in Estonia?
The rental market in Estonia is growing, particularly in the major cities of Tallinn and Tartu. Rental prices vary depending on the location, size, and condition of the property. Here I have a full YouTube playlist with real apartment rentals in Tallinn https://www.youtube.com/playlist?list=PLnxKvNuiSIhrX5OlUau4vC8dlVtfpoIPQ
