Estonia: House Prices, Rents, and Rental Yields
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Last Updated: Jul 30, 2009
3.62% average with no sign of recovery yet
| Last Updated: Jul. 30, 2009 | |||||
| TALLINN - Apartments | COST (€) | YIELD (p.a.) | PRICE/SQ.M. (€) | ||
| TO BUY | MONTHLY RENT | TO BUY | MONTHLY RENT | ||
| 35 sq. m. | 54,040 | 179 | 3.96% | 1,544 | 5.10 |
| 60 sq. m. | 100,020 | 322 | 3.87% | 1,667 | 5.37 |
| 85 sq. m. | 170,085 | 534 | 3.77% | 2,001 | 6.28 |
| 120 sq. m. | 286,320 | 785 | 3.29% | 2,386 | 6.54 |
| 170 sq. m. | 456,790 | 1,224 | 3.22% | 2,687 | 7.20 |
| Districts researched Tallinn: Vanalinn, Kesklinn, Kristiine, Pirita, and Nõmme Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule |
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For property investors the crisis continues in Estonia, as in the other Baltic countries, and there is no sign of recovery yet. The bare facts are depressing from the viewpoint of property investment. Gross rental yields on apartments in Tallinn are quite poor, ranging from 3.22% to 3.96%. Our estimate of the average gross rental yield level has fallen to 3.62%, down from 4.6% in 2008, presumably reflecting a fall in rents along with prices.
It would be hard to be enthusiastic about property investment at these levels.
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