Analytics, Estonia, EU – Baltic States, Real Estate

International Internet Magazine. Baltic States news & analytics Tuesday, 24.11.2020, 11:08

Half of real estate companies in Estonia will be closed down

Juhan Tere, BC, Tallinn, 09.02.2009.Print version
By the end of summer the number of real estate enterprises in Estonia will fall by half in comparison to the year 2007, predicted Tarvo Telson, a Member of the Management Board for real estate portal kv.ee, writes Eesti Päevaleht.

There were an estimated 400 real estate companies operating in Estonia in 2007, hence by the end of summer this year there should be approximately 200 left. According to the portal kv.ee, the main reason for the fall in the number of companies is that they go out of business. "But some of them also return their focus on their principal operations outside the field of real estate," explained Telson.

 

The overview of the real estate market by kv.ee and Adaur Grupp OÜ indicated that last year the number of real estate transactions concluded in Tallinn was by a third smaller than in the year 2007.

 

An analyst Tõnu Toompark stated that the most important indicator of the real estate market is the number of transactions concluded and it is demonstrating a declining trend. "Real estate prices are also falling, slowly but surely, and this is unfortunately true for all segments of the market," he added.






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