A 174% increase in housing prices was recorded in Estonia. Baino Estates LLC considers Estonian market to be a good starting point for low-budget investrors.
Prices per square meter of housing in Estonia have risen by 174% over the past 12 years. Among the EU countries, this is the highest growth rate since 2010. Baino Estates LLC experts note that rental prices have also increased in Estonia, the average monthly payment has risen in price by 177%. Although the increase in the cost of rented housing is observed throughout Europe, only Estonia shows such high rates. The analysis was carried out on the basis of data for the 1st quarter of 2023, and growing inflation is likely to continue to raise property prices in Estonia.
Despite the high rate of rise in rental prices, the monthly rent here is not as high as in the rest of Europe. For example, in Tallinn you can find a small one-room apartment for only 350-400 euros per month. It is best to hire a broker to get prices like these since inexpensive offers sell out very quickly.
Prices of metropolitan two-room apartments in good condition start at 500 euros per month. The apartment, as a rule, has both furniture and household appliances. In addition, Tallinn has a well-developed infrastructure, so almost any area will be convenient. The price does not include utility costs. In summer, a communal apartment will cost about 85 euros, in winter – 100-150 euros, depending on the energy efficiency of the building.
In Tartu, the price range for renting an apartment is huge. You can find a one-room apartment for 250 and 1200 euros alike. Depending on the energy passport of the house and the year it was built, as well as the level of repair and amenities, the price varies heavily. A quick review of three rental offers in Tartu shows that although prices range from around 440 to 1,700 euros, the price per meter is in the range of 9.3-13.6 euros.
The Estonian real estate market is small, but it is characterized by its stability and promising security of investments. It is perfect for novice investors whose investment capabilities are modest.
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