Estonia, Real Estate

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 19:18

Pindi: number of apartment transactions plummeted in Estonia in January

BC, Tallinn, 13.02.2015.Print version
When in December 2014, 1,106 transactions with apartments were conducted in 17 Estonia's largest towns, in January 2014 the number fell to as low as 886, which is the weakest result of two years, LETA/Postimees Online reports.

The weighted average price of a square metre of apartment space in Estonian towns, or the Pindi Index grew by 4.6% in January. The Pindi Index indicated that the weighted average price of a square meter of flats in the 17 bigger Estonian cities and towns was 1,192 EUR. In December, the revised index sum was 1,140 EUR a square metre.

 

In January last year, 983 transactions with apartments were conducted in the 17 towns.


Pindi Kinnisvara board chairman Kalev Roosiväli said that the fall in the number of transactions was expected. "The rapid rise in prices and major activity at the market that has taken place in recent years was predictable, but it is not sustainable, and predicted calming down of the market started," he said.

 

The price index compiled by Pindi Kinnisvara takes into account the weighted average price of a square metre of purchase and sale contracts where the objects are flat ownerships in all county centres as well as in the cities of Kohtla-Järve and Narva. The index covers housing of nearly 800,000 Estonian inhabitants.






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