Estonians Increasingly Prefer Renting Summer Cottages Over Buying
According to real estate agency Uus Maa, a growing trend in Estonia sees people opting to rent rather than buy summer homes due to high prices and a desire for flexibility, especially among youth.
Data from the real estate bureau Uus Maa shows that Estonians are increasingly choosing to rent rather than buy summer cottages. This trend began during the COVID-19 pandemic and has been gaining momentum ever since, according to property agent Pavel Kuusik, speaking on Radio 4.
Key drivers include high property prices and a preference for a more flexible lifestyle. For instance, a good summer cottage in Harju County can cost between €100,000 and €150,000. Many people, particularly young adults, do not want to tie themselves to one location and prefer to change their holiday spots each summer.
Properties near water bodies are in highest demand, but location alone is not enough. The condition of the property is crucial: it must be free of dampness, mold, and fungus, have functioning utilities, and offer additional amenities such as a sauna.
The agent recommends that tenants sign a written contract rather than relying on verbal agreements. The contract should include all terms, allocation of responsibilities, and a description of the property's condition to avoid disputes. For landlords looking to rent out their cottages, Kuusik suggests contacting real estate agencies or listing the property on specialized platforms and social media.
