Housing Finance Policy

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A. Legal and Regulatory Framework

A.1 Legal and Regulatory Framework
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Basis of the legal system: Civil, Common, Islamic, Other? (Describe)CivilCivilcivil
CIA World Factbook
A.1.1
Are there specific laws that deal with mortgages? YesYesyes
Government of Estonia
A.1.2
Registration/Transfer of titles:A.1.3
Does the law clearly define different types of property rights?YesYesyes
Global Property Guide
A.1.3.1
 Are property rights easily transferable?YesYesyes
Global Property Guide
A.1.3.2
Typical number of days needed for the transfer of title17.517.518
Doing Business
A.1.3.4
Are there legal constraints on mortgage features?YesYesyes
Bank of Estonia
A.1.6
Loan-to-Value capYesYesyes
Bank of Estonia
A.1.6.2
Payment-to-Income maximumYesYesyes
Bank of Estonia
A.1.6.3
OtherYesYesYes
Bank of Estonia
A.1.6.4
Is there specialized legislation covering:A.1.9
B. Housing Finance Subsidies
B.1 Subsidies to Housing Finance Institutions
B.2 Subsidies to Households
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Are there subsidies to households on housing finance?YesYes 
OECD
B.2.1
Down-payment subsidies YesYes 
OECD
B.2.1.3
Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
C. Taxation
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
What taxes apply to Residential Real Estate?C.1
Tax on property (home-owners) YesYesyes
Global Property Guide
C.1.1
Property transaction taxes (purchase/selling)No  
Global Property Guide
C.1.2
Mortgage transaction taxesNo  
Global Property Guide
C.1.3
Tax on mortgage interest pmtsNo  
Global Property Guide
C.1.4
Tax on capital gains on property YesYesyes
Global Property Guide
C.1.5
OtherNo  
Global Property Guide
C.1.6
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Notes: 15 commercial banks and 20 savings and loan associations
Notes: 16 commercial banks and 20 savings and loan associations. In October, DNB Bank and Nordea Bank combined into Luminor Bank.
Notes: 85% LTV cap
Notes: 85% LTV cap
Notes: 85% LTV cap
Notes: Actual value is 0.002%
Notes: Actual value is 0.002%
Notes: Actual value is 0.002%
Notes: Actual value is 0.003%
Notes: Actual value is 0.003%
Notes: Actual value is 0.003%
Notes: Based on market share
Notes: Based on market share
Notes: Based on number of firms, not market share
Notes: Based on number of firms, not market share
Notes: Based on number of firms, not market share
Notes: Based on number of firms, not market share
Notes: DSTI limit of 50%
Notes: DSTI limit of 50%
Notes: DSTI limit of 50%
Notes: Dwelling Price Index
Notes: Dwelling Price Index
Notes: Dwelling Price Index
Notes: Dwelling Price Index
Notes: Dwelling Price Index
Notes: Dwelling Price Index
Notes: Dwelling Price Index
Notes: Dwelling Price Index
Notes: Dwelling Price Index
Notes: Dwelling Price Index
Notes: Dwelling Price Index
Notes: Dwelling Price Index
Notes: Dwelling Price Index
Notes: Dwellings in bad condition (major shortcomings or almost unsuitable for living)
Notes: Dwellings in bad condition (major shortcomings or almost unsuitable for living)
Notes: Dwellings in bad condition (major shortcomings or almost unsuitable for living)
Notes: Dwellings in bad condition (major shortcomings or almost unsuitable for living)
Notes: Dwellings in bad condition (major shortcomings or almost unsuitable for living)
Notes: Dwellings in bad condition (major shortcomings or almost unsuitable for living)
Notes: Dwellings in bad condition (major shortcomings or almost unsuitable for living)
Notes: Dwellings in bad condition (major shortcomings or almost unsuitable for living)
Notes: Dwellings in bad condition (major shortcomings or almost unsuitable for living)
Notes: Dwellings in bad condition (major shortcomings or almost unsuitable for living)
Notes: Dwellings in bad condition (major shortcomings or almost unsuitable for living)
Notes: Dwellings in bad condition (major shortcomings or almost unsuitable for living)
Notes: Dwellings in bad condition (major shortcomings or almost unsuitable for living)
Notes: Institutional Funding
Notes: Law on Property 1993
Notes: Maximum loan maturity of 30 years
Notes: Maximum loan maturity of 30 years
Notes: Maximum loan maturity of 30 years
Notes: Rent at reduced price or free
Notes: Rent at reduced price or free
Notes: Rent at reduced price or free
Notes: Rent at reduced price or free
Notes: Rent at reduced price or free
Notes: Rent at reduced price or free
Notes: Rent at reduced price or free
Notes: Rent at reduced price or free
Notes: Rent at reduced price or free
Notes: Rent at reduced price or free
Notes: Rent at reduced price or free
Notes: SEB Loan Protection insurance can be used for a SEB mortgage. It protexts incomes and performance of loan obligations if borrower's income has decreased or ended
Notes: SEB Loan Protection insurance can be used for a SEB mortgage. It protexts incomes and performance of loan obligations if borrower's income has decreased or ended
Notes: Stamp duty in insignificant amounts may apply on certain real estate transactions
Notes: Swedbank owns 100% of Hansabank, the largest bank in Estonia
Notes: Swedbank owns 100% of Hansabank, the largest bank in Estonia
Notes: Total dwellings in Harju County