Estonia, Good for Business, Markets and Companies, Real Estate
International Internet Magazine. Baltic States news & analytics
Thursday, 25.04.2024, 15:45
Number of real estate transactions in cities highest in 11 yrs in Estonia in August
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According to Kalev
Roosivali, CEO of the real estate company Pindi Kinnisvara, although in Tallinn and Tartu the increase in the
number of transactions was notable, nearly half of activity growth came from
smaller cities.
"A stable economy is finally pulling the real estate markets
of small cities out of the economic recession," Roosivali said. He added
that a shortage of workforce is making it possible for workers who live outside
the capital city to purchase a home as a result of higher salaries and a weak
demand on the real estate market.
A total of 816 real estate transactions worth
74.1 mln euros were carried out in Tallinn in August. In August 2015 the number
of transactions was 728 and these amounted to 63.2 mln euros.
The average price per square meter of
apartments in Tallinn in August 2016 was 1,637.8 euros, 4.2 % higher than the
year before but 1.5 % lower than in July 2016.
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