Land close to the city is mainly of interest to those who want to build their own home on it. There are various reasons why people prefer to live outside of the city but still within easy distance of it. These can be practical as well as emotional, influenced by lifestyle, personal preferences and economic opportunities.
The Kindluse Kodu housing estate in Järveküla. In addition to terraced and semi-detached houses and free-standing homes, the new quarter will also offer land for private homes. 3D visual: Everaus Kinnisvara
Attractive to people building their own homes
Convenience and accessibility are why people build homes in municipalities close to a city. Moving to the outskirts or beyond is often driven by a desire to get away from the fast pace, noise and pollution of the city, with people looking for a living environment that offers peace and quiet, closeness to nature and cleaner air. They want to live outside of the city, surrounded by greenery, but still close enough to workplaces, schools and health and other essential services. A home’s proximity to a bustling hub of urban life also means more opportunities for entertainment, cultural events and social activities. This is exactly what peri-urban areas offer: a country idyll close to the city.
In addition to practical considerations, people’s decisions to live out of town are influenced by emotional and psychological factors: some are looking for more privacy and personal space, and to build a home on a larger block of land than a densely populated urban environment allows, so as to create for themselves an oasis of relaxation and recuperation; others value a sense of community and want to live in a place where there are strong neighbourhood ties and opportunities to take part in events and activities as a community. In their view, a place should be big enough to have a good number of people, but at the same time small enough to get to know them.
Kangru Kodu offers large, spacious blocks of land for private homes edged by tall trees and bushes on Tallinn’s city limits. Photo: Kaupo Kalda
Attractive to small investors as well
There are both highly sought-after and less sought-after areas around any capital city. All the necessities of everyday life – infrastructure (roads and street lighting), education, sports facilities, shops and services – are available in all of these areas, but for some reason property prices in some of them have increased much more than in others. It is in such areas that land is of interest to small investors as well.
Highly sought-after areas are distinguished from others by their greater development potential, which is what boosts the value of the real estate in them (including land) over time. People are increasingly appreciative of modern, integrated living environments that continue to evolve. It is this that makes certain areas more attractive than others to both prospective home-builders and business owners. Moreover, land is a finite resource, and demand for it is constantly growing as the population rises and development continues apace. Blocks of land located close to the capital in areas with significant development potential see a marked increase in their value over time, as their location and scarcity make them desirable for both residential and commercial activities.
How to recognise an area with great potential for development
Everaus Kinnisvara CEO Janar Muttik says this requires local market knowledge, expertise and experience, just like any other investment decision. “I’d recommend buying land from a property developer with many years’ experience, because one of the things they’re guided by in what they do is the development potential of an area,” he explained. “They’ll have done extensive research to assess that potential, so they’re worth trusting. On top of that, if the land’s part of a new area which is being developed by a recognised developer as an integrated residential quarter, then you can be sure the land won’t remain an empty space in the middle of a field, but will turn out to be a profitable investment.” He adds that prices are always more favourable in the early stages of development, which is why it is worth considering buying land at that time.
Here it should be noted that a block of land is an area designated in the detailed plans for which building rights have been granted. In the context of investment, it is important to bear this in mind and to invest in such a plot, not any old piece of land without detailed plans. The planning procedure is a time-consuming and nuanced one whose course and outcome may not meet the expectations of small investors. However, this is a factor which further affects the shortage of land with detailed planning and in turn increases the value of land as an investment.
GOOD TO KNOW
Kindluse Kodu’s blocks of land for private homes
At the very heart of Järveküla, with its youthful community, the Kindluse Kodu residential development will be a home to people who value proximity to the city and a high level of community activity. Järveküla is a green, family-oriented hamlet in Rae municipality that values education and supports healthy lifestyles, attracting people with its rapidly developing environment, proximity to the capital and good infrastructure.
For more information about the Kindluse Kodu development and the land it offers for private homes, see kindlusekodu.everaus.ee.
Kangru Kodu’s blocks of land for private homes
Located in Luige on the outskirts of Tallinn, Kangru Kodu is a private residential quarter surrounded by forest, offering the joys of home to those who appreciate the forest and closeness to nature, but also proximity to the city. Large, spacious, landscaped blocks of land give you the freedom to create a private and comfortable home for the whole family.
For more information about the Kangru Kodu development and the land it offers for private homes, see kangrukodu.everaus.ee.
Surrounded by greenery, the Kangru Kodu blocks of land are just a 15-minute drive from the centre of Tallinn. Video: Everaus Kinnisvara
