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A potential expatriate who wants to move to Estonia should stick to the country’s major cities, according to Quintessentially Estates.
Lily Simpson, head of business development at the global property search company, said that people should concentrate on buying homes in the capital city Tallinn as it is the main area of investment and also Pamu.
"But I think apart from these two key areas, it’s almost too much risk really. If you are investing in a city the risk is lower," she said.
Ms Simpson went on to say that people who are looking to move to Estonia should wait for three months and then reassess the property market at a later date because the country’s housing market could be affected by the global economic downturn.
"With an economy like this, it is important to minimize risks as much as you can, so buying in the cities, buying in Pamu, [
] is really important. I would try not to stray from these regions," she added.
Research by Knight Frank revealed that house prices in Estonia fell by 16 per cent this year.
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