Premises

There are no particular restrictions for foreigners acquiring immovables in Estonia. General restrictions fall into two main types according to the Restrictions on Acquisition of Immovables Act:

• restrictions arising from the acquisition of 10 hectares or more of agricultural or forested land;

• restrictions arising from national defence reasons.

The Government may grant authorisation to foreigners for acquisition of an immovable in one of the two categories above for reasons significant to the State.

The following table shows the indicative range for rents (excluding VAT and operating expenses) in major towns of Estonia for class A and B1 office premises, medium-size retail units in major shopping centres, and new and renovated warehouses (EUR/m2 per month):

Source: Colliers International Advisors, Estonia

Class A -property under management by a professional management company, located in Downtown (Südalinn), completely new construction, fully controllable technical systems, reasonable column spacing, raised floors and suspended ceilings, a good underground parking ratio, corresponding infrastructure/amenities in the building (including cafeteria).

Class B1 -reconstructed or newly constructed buildings with fully or partially replaced technical systems, located in City Centre (Kesklinn) or on the edge of the City Centre; possibility exists to install raised floors and suspended ceilings, western-standard interior fit-out, and surface parking.

At the beginning of 2011, Tallinn office stock comprised about 473,500 sqm. Class A and B1 premises accounted for 64% (303,500 sqm) of the total stock of speculative (not built-to-suit) office buildings in Tallinn, and Class B2 accounted for 36% (170,000 sqm) of total stock. The stock of Tallinn retail space increased to a total of 461,800 sqm (1.14 sqm per capita) in 2010, and estimated total stock of industrial facilities exceeded 711,400 sqm (approx. 195,000 sqm of generic facilities plus 516,400 sqm of built-to-suit facilities).

Additional information