Estonia is a low-lying country, bordered by Latvia, Russia and Baltic Sea on all sides. It comprises of numerous forests and lakes and a number of rivers, most of which drain towards the north into Gulf of Finland or towards the east into Lake Peipus. According to research, Estonia has topped the list of world-wide property markets in the world, in terms of the annual growth. In fact, the capital city of Tallinn recording 17 percent growth in the first quarter of year 2006 besides the annual record growth of 50 percent in the previous year.
Now the question is what is the reason behind the fueling prices of Estonia real estate? What is it that is sustaining the prices of real estate in Estonia? It has been noted that Estonia has a quick moving property market in which real estate deals are completed in as little as 2 weeks times. The conveyancing process in the Estonia real estate deals takes a maximum of one month.
The affordable price of the home loans in the country is one of the main reasons behind the rising demand of Estonia real estate for purchase. Especially in the city of Tallinn, the demand for Estonia rentals and properties far outstrips the supply for properties, even though the country has witnessed a major boom in property development in the recent past. In fact, Tallinn is now almost as popular as Dubai in terms of the developers competing fiercely to complete new as well as renovated international real estate properties in the country, in order to satisfy the hunger for property.
The demand for new Estonia real estate for sale is intense especially because the residents of the country wish to escape from the influence of the former Soviet Union and enjoy a luxurious life in new and modern apartments. Though the number of new Estonia real estate properties is failing to meet the demands of the people, it is because of the sellers than the Estonia real estate listings and property prices are increasing. With the mortgage remaining at low interest rates, more and more people are able to afford Real Estate in Estonia, thus fuelling the demand even further. This scenario has resulted in a major boost in the real estate in Estonia.
Another reason why international real estate investors are becoming interested in Estonia properties is because of the fact that the country is blooming as a high tech nation or IT nation. Therefore, there is a major rise in the job opportunities for people offering high wages. This has made debt more affordable for buying Estonia real estate properties. All these favorable factors enable the property market to absorb the rising prices of real estate in Estonia and continue to bloom.
Taylor White is an international real estate investor and leading the charge at International Real Estate Listings the worldwide leader in Estonia real estate and Estonia real estate listings. Estonia real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.