A recovery in the value of residential properties in Estonia has been recorded by the country's statistical office.

Global Property Guide reported on the figures, which revealed that average house prices in the nation climbed by 10.6 per cent during the year ended in June 2011.

The increase comes after Estonia's housing market experienced significant fluctuations in property values, with meteoric rises between 2004 and 2006, followed by large falls until midway through 2010.

According to the publication, construction activity in Estonia is beginning to pick up. Data from the Register of Construction Works showed a 21 per cent rise in the number of building permits granted in the third quarter of 2011, compared to the same period a year earlier.

However, the news provider stressed that the effects of the eurozone debt crisis have yet to filter through and have an impact on Estonia.

Greece, Spain and Italy are among the European nations battling with substantial public debts at present.
 

{loadposition user38} source: http://www.propertyshowrooms.com/estonia/property/news/estonian-house-prices-rise_311745.html