Tallinn real estate market
Extract from the publication Facts about Tallinn 2020 pages 28-32
More information about market overviews can be found on Uus Maa Real Estate Bureau and City24
Buildings and rooms
There are no restrictions for the lease of buildings and rooms. Nor are there any procedural peculiarities. Rents are usually fixed and not indexed, therefore the term of lease is relatively short. Costs for electricity, heating, etc are customarily excluded from rent and have to be paid by the lessee.
More information: Real Eastate Databases www.kv.ee; www.city24.ee
Property Taxes, Fees, Charges
Property taxes are relatively low, and are likely to remain so. In Estonia the land tax is the only real property tax; buildings and forests are not taxed separately.
Land tax is based on the market value of land and ranges between 0.1 to 2.5 percent of market value of land annually (in Tallinn 0.6). Factors that affect the market value are location, land use and environmental characteristics. Landowners or in some cases land users (Local Government or state property) must pay Land tax.
Source: State Portal Eesti.ee
The notary fee is paid to a public notary for legal and technical services connected to the transaction. The fee is based on the value of the transaction, which is the price of property or rights declared by the transaction party. www.notar.ee
Operating costs in Tallinn
Information about electricity can be found on Eesti Energia homepage.
Information about Estonian Gas can be found on Eesti Gaas homepage.
Tallinna Vesi provides information about water and wastewater.
The recent trend in industrial property market are industrial parks. There is less and less industry in the Tallinn city center, industry in central city of Tallinn, manufacturing companies and factories are moving to the more suitable locations in outskirts or even further away from Tallinn and its immediate vicinity. There are vicinity has three areas under development for manufacturing facilities and warehouses: Peterburi road, Pärnu road in Laagri and Tartu road between the city boundary and Jüri. The biggest industrial parks in and around Tallinn are Jüri Industrial Park, Tänassilma Technological Village, PAKRI Science and Industrial Park, Keila Industrial Park, Muuga Industrial Park, Tallinn Industrial parks and also Ülemiste City. The total areas of the parks vary from 30 to 80 hectares and companies can purchase grounds with areas from 2000 up to 23 000 square meters. Besides Tallinn, Tapa Business Park and Tartu Science Park are the most promising projects.
TALLINN’S INDUSTRY PARKS:
- Tondiraba Industry Park: on 22.5 hectares bordered byPeterburi Rd., Laagna Rd., Kuuli Rd. and Taevakivi Rd.;
- Betooni Industry Park: on 3.6 hectares at Betooni Rd. 6;
- Suur-Sõjamäe Industry Park: on 6.4 hectares at Suur-Sõjamäe tn 29b.
The industrial parks are conveniently situated at logistic locations in the vicinity of the traffic intersection between Peterburi Rd. and the Tallinn ring road. Good access from all directions by all transport, including public transportation; the city centre, airport and main highways are only a 10-minute drive; the Port of Muuga is only a 20-minute drive. Thanks to the large residential areas in the vicinity, there is sufficient available labour.