An Estonian's Soul Longs for the Islands

The islands' real estate market is most active from early spring to early autumn, when many come to the islands to relax and take time off. While previously summer residents tended to rent suitable properties, today the demand for real estate ownership has increased.

"During the summer season, real estate aimed at summer residents and tourists has the greatest demand – vacation homes, summer cottages, beachfront properties and properties with outdoor amenities – such as gardens or access to water activities," said Kaido Kuusküll, a real estate broker at Lääneranna Kinnisvara.

According to Kuusküll, the island region attracts interest from both local residents whose lives have taken them to the mainland through studies or work and who now wish to return to their roots, as well as mainland residents and international buyers who are interested in a second home or investment opportunity.

Heading into summer, the real estate portal has also seen some notable listings – some offering, for example, an entire island for sale. "For those seeking privacy and idyllic views, on the southeastern coast of Muhu, the 9.8-hectare Viirelaiu island has come on the market, which can be purchased for 69,000 euros if interested. When the water level is low, you can even reach the islet by walking through the bay on foot," described Martin Matsberg, marketing director at Kinnisvara24.

In Kaarma village, for example, a house with its own lake is for sale, which comes with a sauna, a golf green and a windmill. Those seeking similar luxury and seclusion near Tallinn can find it in Prangli or Naissaar, where idyllic private seaside properties and complexes are also available.

One of the most notable properties currently on the market is on Kihnu island, where for 590,000 euros it is possible to acquire a real personal earthly paradise. "In Sääre village, a unique seaside property is available directly near the boat harbor, which includes a renovated residence with two large terraces, a guest house and a swimming pool, a garage/shed as an outbuilding, plus an old sauna house that has been converted into a guest house, a dry stone cellar and a well," Matsberg added.

While such properties receive a lot of attention during the summer season and sales transactions happen quite quickly, year-round the market situation on Estonia's islands today is rather calm and the market is tilted towards buyers. "There are many offerings and also plots where you can build your own house. The only thing lacking on the islands is apartments. Although starting new developments in today's economic situation is rather an exception, for example in Saaremaa, new real estate projects are still to be expected, which are already being actively worked on today," said Kuusküll.

According to Kuusküll, prices on the islands have risen noticeably in recent years and you won't easily find an apartment in the urban area for under 100,000 euros. "Real estate prices depend on the specific location, size and condition. Average house prices on the islands remain around 200,000 euros, while plot prices vary widely, so there is something for every preference," he added.

The popularity of a region typically depends on location, infrastructure, accessibility, natural beauty, amenities and proximity to services. "Most people want a home in larger centers or at most 15 km away. At the same time, many are also looking for peace and privacy and consider properties further away or even on a private island. However, naturally water comes hand in hand with islands – every person wants to spend at least some time by the sea in summer, so homes are sought near it," said Kuusküll.