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Observer Eesti Oü

WEEK 20. 2005

Tuesday, 17th of May, 2005

Bank deposits grew by EEK 5.8 billion in April
Deposits in banks grew by EEK 5.8 billion and reached up to EEK 74.6 billion in banks of Estonia. In earlier months, the growth has not surpassed the limit of EEK 3.1 billion.

Amount of trips to Finland has increased drastically
Estonians made 73 % trips to Finland more than in respective period last year. According to Finnish Statistics Department, number of visits of Estonians to Finland reached 383,000 in 2004, which is 155,000 trips more than in 2003. Amount of money that Estonians spend in Finland has also grown.

Wednesday, 18th of May, 2005

International Herald Tribune: not enough real estate in Baltics
It is only a matter of time, when international real estate developers will go along with the real estate boom in order to invest into properties in Estonia, Latvia and Lithuania, where real estate prices are significantly below EU average, writes the International Herald Tribune.
The increase of real estate prices in Estonia, Latvia and Lithuania has is not yet so rapid like in other new EU member states Poland and Czech Republic. But presuming that the economy of the Baltic States would rise 6 percent a year, real estate prices should continue increasing. The main problem is the lack of investment possibilities in Baltics. Competition for each square meter is fierce. According to Arco Vara, there are 400,000 square meters of bureau areas in Baltics and 44 million in Paris alone.
Eesti Päevaleht

There are 2 million Internet users in the Baltics
By the beginning of the current year there were almost two million Internet users in the Baltic States, whereby half of them live in Estonia. According to TNS Emor, almost 2 million residents in ages of 15 to 74 used Internet in Baltic States. During recent years, the user base has grown fastest in Latvia. Spread of Internet has happened mainly due to popularity of home computers and broadband connections at home. Nearly third of Estonian households have Internet connection at home, whereby the percentage in Latvia is 12 and in Lithuania – 14.
Äripäev, Turunduse TOP

Alcohol sales made giant leap with help of the European Union
Local alcohol market has quickened considerably after Estonia becoming member of the EU. Biggest winners are local alcohol manufacturers.
Remarkably more alcohol was sold to tourists, increasing over two times compared to last year.
Eesti Paevaleht

1.9 million tourists stayed overnight in Estonia last year
1.9 million tourists used services of Estonian accommodation places last year, which are 361,000 tourists more than year before, announced Statistics Department.
28 % were Estonian citizens and 72 % foreigners. 67 % of tourists came from adjoining states – from Latvia, Finland and Russia. Tourists stayed in accommodation places fairly two days.
61 % were on vacation and 26 % were on business trip. Tourists paid fairly EEK 445 in accommodation places for a day.

Thursday, 19th of May, 2005

Volume of housing loans, real estate transactions up briskly
Estonia's leading banks Hansabank and SEB Ühispank say their housing loan portfolios are up by more than 50 percent a year. Most of these loans went to the real estate market where the number of notarised purchase-sale contracts increased by 13 percent in Q1 and totalled almost EEK 8 billion.

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