by Tom Pritchard
Overseas property investors and foreign currency experts are showing increasing interest in Estonia, where increased GDP and investment in eco homes offer a great opportunity for returns.
The Baltic States of Estonia, Lithuania and Latvia were once considered Europe's best kept secret for savvy overseas property investors, but that has all changed in recent years. After years of neglect during the Cold War period, Estonia and it's economy are now powering ahead.
According to official statistics from the government agency of the Ministry of Finance, Estonia's GDP increased by an impressive 8% in the first quarter of 2011.
Exports of goods from Estonia rose by 53% with most of the value added growth attributed to manufacturing. Estimates predict that the economy could grow by as much as 5.9% in the next 12 months.
So, is now the time to invest in Estonia? An obvious opportunity could be in the area of property investment.
The Global Property Guide claims that property prices in Tallinn rose by 2.5% over the last year. With increased economic growth, property prices in the capital could rise further: there has been 34% year on year growth in the number of construction projects underway in Estonia over the last year.
"Estonia certainly has placed itself on the global investment radar." Alan Forsyth.
As well as the welcomed boost in GDP, the National Tourist Board recently announced that Estonia has seen a 41% increase in the number of UK visitors with a record number welcomed in Q1 2011.
Tallinn, Estonia's capital is European Capital of Culture 2011 and easyJet have started flying to the city from Liverpool.
To view our latest Eco Deal in Tallinn click here