Construction volumes decreased by a third compared to last year

According to Statistics Estonia, in the 3rd quarter of 2009 compared to the same period of the previous year, the total production of Estonian construction enterprises decreased 29%. In the 1st quarter of the present year the production was 31% and in the 2nd quarter 28% smaller than a year ago.

In the 3rd quarter of [...]

Ex-minister accused for bribery

Tallinn Circuit Court ruled today that ex-minister Villu Reiljan was guilty of asking a 1.5 million kroon bribe from businessman Aivo Pärn through his lawyer Tarmo Sild.
According to ERR, this means that the ruling of judge Märt Toming of Harju County Court on May 19 will stay. Under the judgement, Reiljan received a conditional sentence [...]

Decline of real estate market slowed down

According to Statistics Estonia, in the 3rd quarter of 2009, 6,350 purchase-sale transactions of real estate were carried out. Compared to the same quarter of the previous year, the decrease in the number of transactions slowed down.

The number of purchase-sale transactions decreased during the last three quarters by more than one third in each quarter [...]

Construction price index fell in 3rd quarter

According to Statistics Estonia, in the 3rd quarter of 2009 the percentage change of the construction price index was -10.5% compared to the 3rd quarter of 2008. The index fell three quarters running compared to the corresponding quarter of the previous year.

If in the 1st quarter this year the construction price index fell 4.7% compared [...]

Decline on the construction market has slowed down

According to Statistics Estonia, in the 2nd quarter of 2009 compared to the same period of the previous year, the total production of Estonian construction enterprises decreased 28%. In the 1st quarter of the present year the production was 31% smaller than a year ago.

In the 2nd quarter of 2009 the production value of construction [...]

Estonian manor houses on sale

Estonian weekly has put together the list of Estonian mannor houses on sale.
View the map to see location and name
http://maps.google.com/maps/ms?hl=en&ie=UTF8&t=h&msa=0&msid=104167106061408818108.00047155b2b3b4cd20894&source=embed&ll=58.955674,24.741211&spn=4.278969,14.249268&z=7
 
Prices in EEK. (1EUR= 15,6466 EEK)
Oti mõis – 40 664 000 EEK
Oti küla, Pöide vald, Saaremaa 45 182.- / m²
Peetri mõis – 35 800 000
Pärsti vald, Viljandimaa 46 615.- / m²
Kolga mõis – 29 000 000
Kuusalu [...]

Average value of real estate transaction 42 000 EUR

According to Statistics Estonia, in the 2nd quarter of 2009, 6,500 purchase-sale transactions of real estate were carried out. Compared to the 2nd quarter 2008 the number of purchase-sale transactions decreased by one third, and compared to the previous quarter increased by one fifth.

The total value of purchase-sale transactions was 4.2 billion kroons in the [...]

Construction price index in continuous fall

According to Statistics Estonia, in the 2nd quarter of 2009 the percentage change of the construction price index was -8.8% compared to the 2nd quarter of 2008. The construction price index fell for the second quarter in succession compared to the same quarter of the previous year.

In the 1st quarter of this year the construction [...]

Real Estate Market Report 2009

Read the report here
Report published by Ober-Haus real estate agency and Sorainen law office.
A quote from the report:
More than 100,000 sqm of new office space flooded the Tallinn market in 2008, bringing the total to 250,000 sqm. The total stock of A class and B class office space reached 500,000 sqm by the beginning of 2008. [...]

Swedbank to establish Baltic real estate company

Due to a growing number of confiscated properties in the Baltic States, Swedbank “will become a real-estate company” in the region, the bank’s CEO said, The Swedish Wire writes.

In the trail of the financial crisis in the Baltic States, Swedbank, the region’s largest lender, is likely to end up with large assets in real-estates, confiscated [...]