RKAS Confirms: State-Owned Vacant Buildings Won’t Be Sold Off Easily!

"RKAS: State-Owned Vacant Buildings Not Easily Sold!"

Riigi Kinnisvara Aktsiaselts sells unnecessary state properties; not all vacant buildings are for sale, with future plans still being developed.

Katrin Kask16 November 2024Last Update : 3 weeks ago

RKAS: kõik riigile kuuluvad tühjad hooned kindlasti otse müüki ei lähe | Eesti

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Riigi Kinnisvara Aktsiaselts (RKAS) is selling state-owned properties deemed unnecessary, but not all vacant buildings will be put on the market. Karel Aasrand, the director of management services at RKAS, emphasized this point in a recent interview. As of November 16, 2024, the company is auctioning three properties, including two in Tartu and the former Tallinn prison.

6 Key Takeaways

RKAS sells unnecessary state property only.
Three properties currently up for auction.
Future vacant buildings' fate is uncertain.
Sales depend on financial planning.
Next year's sales plan is under development.
Not all vacant buildings will be sold.

Fast Answer: RKAS is auctioning state properties but clarifies that not all vacant buildings will be sold. The decision on which properties to sell depends on financial planning and state needs.

Why Are State-Owned Properties in Estonia Being Sold? Insights for Investors

What drives the sale of state-owned properties in Estonia? The government aims to optimize its assets and focus on properties that serve a purpose. With the ongoing reform in vocational education, some buildings, like the Hiiu-Suuremõisa facility, may become vacant. However, not all empty buildings will automatically go up for sale.

Info! Understanding the management of state properties in Estonia is crucial for potential investors. It highlights opportunities and challenges in the real estate market.

What Properties Are Currently Up for Auction in Estonia?

RKAS is currently auctioning three properties, with two located in Tartu and one in Tallinn. The former Tallinn prison site is particularly noteworthy. The auction process allows the state to convert unnecessary assets into liquidity. This strategy not only benefits the government financially but also opens opportunities for private investors.

Key Factors Influencing the Sale of State Properties

Several factors determine which properties are sold by RKAS:

Financial planning of the state-owned enterprise.
Assessment of whether a property is necessary for state functions.
Potential future use of vacant buildings by other institutions.
Market demand for specific types of properties.

Future Plans for State Property Sales in Estonia

The sales plan for the upcoming year is still under development. Aasrand stated that specific properties for sale will be announced soon. The decision-making process will consider the financial goals of RKAS and the overall state budget situation.

In conclusion, while RKAS is actively auctioning state properties, not all vacant buildings will be sold. This careful approach allows for better management of state assets and opens the door for private investment opportunities in Estonia’s real estate market.