Estonia to ease restrictions for EU citizens and companies to buy land

Estonia to ease restrictions for EU citizens and companies to buy land (1)

Eestlased Eestis | 01 Mar 2011 | EWR

Toomas Hõbemägi, BBN
Starting from May 1, another restriction for foreigners buying land in Estonia will disappear when foreigners will be allowed to buy land in municipalities near the Estonian border and no longer have to ask for permission from the county governor if the agricultural or forest land plot is larger than 10 hectares, writes Postimees.

While the restrictions will be eased, one requirement will remain that if agricultural or forested land is being purchased by a company registered in the EU, it must provide evidence that it has been involved in agriculture or forestry at least three years.

However, current restrictions will continue to apply on citizens of non-EU countries including Russia.

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just my opinion01 Mar 2011 09:57

I hope that is not a mistake. Although it may seem that this is part of an effort to integrate more within the EU, I hope they are careful.
The provincial government of British Columbia eased this type of restriction and in Vancouver it has created the most expensive real estate within the Canadian Kingdom. The influx of real estate purchase from rich foreigners, drove up prices, and for the most part remain empty for all, or most part of the year.

In my opinion it is perhaps a short term gain, for a long term headache. And a bit pre emptive given the average wage and unemployment situation in Estonia.

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