First: when purchasing real estate in Estonia, you get a multi-visa to this country and have the opportunity to move freely in the Schengen area.
Second: when buying real estate in Estonia, you really get what many people only dream of - an apartment or home ownership in a seaside European city (or resort) with excellent ecology and centuries-old culture and history.
Third: Estonia's location is undeniably attractive – 2.5 hours from St. Petersburg or 10 hours from Moscow make travel costs minimal and allow you to use real estate in Estonia as a family holiday destination for weekends, holidays or vacations.
Any foreign citizen can buy real estate in Estonia, although there are exceptions. The transaction is formalized by a notary public in a written contract of sale. The contract is drawn up in Estonian. The notary can translate it (or the main points) into Russian (if he speaks Russian), or the Buyer can order a notarized translation into Russian. The contract of sale specifies the basic information about the property, the price and terms of the transaction.
- The restriction on the acquisition of real estate by foreign citizens in Estonia applies to land plots located in the border areas. The exact list of counties where there is a restriction on such transactions is approved by the relevant law. In this case, the acquisition of real estate is possible only through the creation of a legal entity in Estonia, which will be the purchaser of real estate. restrictions on the purchase of apartments throughout Estonia for foreign citizens .
- There is no property tax in Estonia. There is a land tax. Its value depends on the area of the land plot, its intended use (residential, commercial, etc.), as well as its location.
- To complete a transaction, a foreign citizen must provide an identification document (for citizens of Russia – international passport ), as well as inform about their marital status. If the Buyer is married, then a marriage certificate must be provided. If you wish to enter your spouse's data into the Land Register, you must presence the spouse at the transaction or a notarized power of attorney. If the notary does not speak Russian to the required extent, then he may ask for a notarized translation of the documents provided.
- After the notarial transaction, the notary himself sends information about the transaction to the Land Register (Kinnisturaamat), the institution that maintains the register of real estate in Estonia. Usually, within 7 calendar days, an entry is made in the register about the new owner (according to the law, up to 30 days, but usually everything is done much faster ).
- The list of notaries can be viewed www.notar.ee by selecting the Russian language accordingly.
- Ownership of real estate in Estonia does not give you the right to stay in the country. The usual rules for obtaining visas and residence permits remain in force. However, the presence of real estate can be an essential reason for obtaining a multiple- entry visa.
- Residential real estate is most in demand among Russians in the North-East of Estonia (proximity to the Russian border), the northern coast, and also in Tallinn (especially in the Old Town ).
- Notary expenses are regulated by Estonian law.
- Examples of notary fees:
- A deal worth about 10 000 euros – notary fees approx. 100 euros
- A deal worth about 32 000 euros – notary fees approx. 200 euros
- The amount of expenses for the maintenance of real estate depends on the type of real estate, locality and the decision of the Apartment Association (an analogue of the HOA in Russia) or the dacha cooperative.
- Examples of property maintenance costs:
Apartment, city of Narva, 2021, Maintenance – on average from 0.7 to 1.0 euros per m2 of the area of the apartment; mountain water. – 4,875 euros per m3, cold water – 1,817 euros per m3, gas – 0.938 euros per m3, Heating (depending on the outside temperature and the insulation of the house) – on average from 0.7 to 1.5 euros per m2 of the area of the apartment, electricity according to the meter – an average of 0.15 euros per 1 kW.
Apartment, city of Tallinn, 2021, Maintenance – on average from 1 to 1.5 euros per m2 of the area of the apartment; cold water – 1.52 euros per m3, mountain water – 6 euro per m3, gas – 0.938 euros per m3, Heating (depending on the outside temperature and the insulation of the house) – on average from 1 to 2 euros per m2 of the area of the apartment, electricity according to the meter.
Suburban area, near Narva-Yesuu (Ust-Narva), – 1,200 m2 (12 acres), land tax – 20 euros per year, membership fee of the dacha cooperative – 50 euros per year, metered electricity.