According to the portal kv.ee stabilization on the real estate market of Estonia is due to the activity of development. As most of the new housing buyers sell their old houses, the proposal remains high. On the other hand, new housing do not have to wait for their owners for a long time, and therefore, prices in the near future will not be reduced.
Specialists from several Estonian real estate agencies spoke about the current situation. In general, prices have recently strengthened, sudden changes are not expected. Tallinn retains the position of most expensive city.
The Agency Arco Vara
A few years ago the real estate prices and sales volumes increased faster than the number of transactions. But now these figures have come to equilibrium. In the first quarter of 2016 Land Department has registered 10 402 deals, a year ago there were 10 265 sales. This year, the total revenue decreased by €21 million and reached € 573 million.
The share of Tallinn and Harjumaa is two-thirds of the total volume of transactions. Thus, the market is mostly concentrated in the metropolitan area. Apartments are still the most frequently sold kind of property. For the mentioned period was sold 5 685 objects, 5% more than a year ago.
Because on the secondary market sellers offer renovated housing at high prices and rarely make concessions, the buyers are more interested in the new housing. Fortunately, the choice is very wide. In Tallinn, for example, now there are hundreds of new projects.
The Agency Uus Maa Kinnisvarabüroo
The most expensive city, Tallinn, is followed by Parnu and Tartu, as well as resort cities of the west.
The most popular type of properties in sector of new housing – family apartment, located away from the busy center. In the secondary market and in the sector of private houses there are no new trends. And if in politics or the economy will not happen anything out of the ordinary, then 2016 will end also stably.
1Partner Kinnisvara
In Tallinn real estate in the districts of Cadriorg, City centre and the Old town is traditionally more expensive. Prices in the district Kalamaja are also quite high. In other parts of Tallinn there is a "balance".
It should be noted that the outlying areas the infrastructure became more developed, so people don’t need to go in the opposite point of the city's for shopping and entertainments.
In our opinion, 2016 on the Estonian market is expected to remain stable. One of the obvious trends – high level of activity by small investors. They buy a property, put it in order and put up for sale or rent (most common option). As the population of Tallinn is constantly increasing, the demand for such housing is always high.
Text – Alena Eliseeva, ee24
Photocredit Depositphotos.com