Demand for apartments in Tallinn has fallen this summer markedly, and in some areas of the city it caused decreasing in prices for this type of housing. Experts believe that buyers will rage again only in autumn, reports ee24.com citing rus.err.ee.
In June, the average price of sold apartments increased by 4.2%, but the press service of Pindi Kinnisvara explains that it's not associated with improvement of demand, but is a consequence of earlier transactions. buyers were registering apartments in newly built homes which they purchased in the previous months.
In many areas of the capital of Estonia, apartment prices, by contrast, have fallen: by 5.8% in Lasnamäe, by 10.8% in the center of Tallinn (to € 1,715 per sq.m).
It should be noted that without including of seasonal factor, property prices in Tallinn have been increasing for several years. Thus, in Q1 2014 housing was by 21.5% more expensive than the year before.