Tallinn Property Market and Real Estate Guide
(Tallinn, Harjumaa, Estonia)
Tallinn is the capital of Estonia
and home to almost half a million people. Situated in the north of the country, it boasts a great location just 80 km / 50 miles from Helsinki
The country has recently chosen to adopt the Euro and the property market has improved dramatically since this announcement. Tallinn is currently enjoying the most prosperous market in the country, but there are reasons to be careful when considering a move to the city as a foreign national.
There are many luxury units available, indicating that the market and the city are somewhat oversupplied. While there is a pent up demand for new properties in Tallinn, the prices on luxury properties are too high for many. Lending conditions are strict and tight, although low housing local rates are readily available.
Kadriorg is located just a few kilometres from the city centre and is one of the most sought after areas in this part of Estonia, in which to rent and buy property. Lower Town and Upper Town are slightly older yet still popular, while those looking for property outside the hustle and bustle of the heart of the city often choose to live in Pirita.
Renting Serviced Apartments
Amenities for the cheaper options are not as modern as for the more expensive and in Tallinn renters certainly get what they pay for, with fantastic facilities and services on offer for those paying higher price tags.
Renting in Tallinn city centre is not as cheap as many assume. More reasonable options are available, but it may take some time to find one at a suitable price. It is normal to pay around two to three months rent upfront as a deposit.
Buying Apartments and Houses
Foreigners can buy property with ease in Tallinn and the majority of restrictions only apply to properties located either within the woodland areas, on the border with neighbouring Russia, or on small islands. If you wish to buy land then it is essential to register with local municipalities.
Real Estate Agents
Real estate agents are used by the majority of people purchasing property in the city and currently one can expect to pay around two to three percent on the asking price for their services. The Internet is a good way to find local agencies, while others prefer to use a local telephone directory or newspaper. Foreigners can expect to find many English-speaking agents at the better quality agencies.
Check out the following Tallinn real estate agents:
Property in Estonia
Address: 1 Trix Road, Norwich, Norfolk, NR2 2HB, England
Tel: +44 870 768 1020
This company is based in the UK and will provide interested parties with in-depth information on local properties for sale in Tallinn, as well as passing clients on to an appropriate company when they arrive in Estonia.
Address: Sopruse Pst 29/32, Tallinn, Harju, EE-12615, Estonia, EE
Tel: +372 530 31797
Tallinn Home provides buyers with a decent selection of rentals and purchases at a wide range of prices to suit a variety of budgets.
Landmark Property Llc
Address: Suur-Karja 23 (courtyard), Tallinn, EE-10148, Estonia, EE
Tel: +372 534 94991
Landmark Property has a range of properties for sale and rent in Tallinn, from apartments through to multi-bedroomed houses.