According to the Union of real estate companies of Estonia (BNS), most of the experts in the real estate sector are optimistic about the future. In the near future they expect the sales and turnover increase, and see an opportunity to hire new employees in the state. According to the respondents, the stabilization will occur both in the field of residential and commercial real estate. Most deals will be concluded in the sector of premises rental. BNS includes more than 50 companies, all of them twice a year take part in such surveys.
If to speak not about the expectations of the Estonian real estate professionals, but about the real prospects of development, the most obvious driving force in the market of Estonia is Tallinn. Over the past 5 years, the population in the Estonian capital increased by nearly 30,000 people – from 413 290 to 440 702.
People concentrate in those cities where the jobs can be found. The population growth leads to increased demand for housing. As flats, unlike houses or private homes are a necessity, the newcomers to the big cities need to find shelter quickly.
The increase in demand leads to higher prices and, consequently, stimulates the construction of new residential areas.
According to the materials of rus.delfi.ee and baltic-course.com
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