Your Name:

Email Address:

Buying property in Estonia

Buying Property in Estonia

  

The Eastern European country of Estonia has become a very popular place for international real estate investors in recent years. Foreign investment and ownership is encouraged by the government and there is a lot of new property going up. Most of the older property is Soviet-era apartment blocks, so international investors just about always look to purchase off plan.

 

Off plan properties in Estonia are built using the latest construction methods and modern materials. To date there has not been a lot of concern or problems with off-plan developments in Estonia. If you are worried about a developer or project, then an IDIP, or International Developer Information Pack, can help provide you with more information and peace of mind.

 

The buying process is very straightforward. Once you have found your ideal property, then you sign a reservation agreement and pay a deposit, which is usually from 10 – 20% of the final price. New construction typically takes from 12-18 months, and most of the final cost is due on completion. Some developments have the buyer make scheduled payments during the process, but that isn’t always the case.

 

When the property is complete, they buyer has a certain amount of time to inspect the property and notify the builder of any problems or needed changes. Once these issues are resolved, then the final sale takes place in the presence of a notary. The purchase contract is signed in front of the notary and the balance of payment is transferred via the notary to the developer.

 

Within 1 month of final payment the property must be registered and a stamp tax of approximately .5% paid. There are no property deeds in Estonia, but once the tax and registration process has taken place, the sale is official. The registration fee is .25% of the purchase price.

Useful Estonia Resources

 

 

Visitestonia.com

www.visitestonia.com

BBC NEWS | World | Europe | Country profiles | Country profile ...

A small and heavily forested country, Estonia is the most northerly of the ... Estonia was part of the Russian empire until 1918 when it proclaimed its ...

Estonia Travel Information | Lonely Planet Destination Guide

Estonia information includes events, money and costs, attractions, activities, history and culture.

Estonian Embassy in UK

Estonian Embassy in London. Includes information on business in Estonia and its economy, and on Estonian Culture in the UK.

CIA - The World Factbook -- Estonia

Brief descriptions of geography, economy, government, and people.