Analytics, Estonia, Real Estate

 Soorumaa said that his own projects were not endangered because of their unique locations.

"There is a bit of a danger of it bursting indeed, in the sense that sometimes you don't have cranes available and construction companies always have their hands full of work," Soorumaa told . "There definitely won't be a crisis like we had in 2008, but there may be some kind of a setback."

Soorumaa said that as far as his own projects are concerned, he doesn't see any direct threat.

"In times like this the golden rule of the property business again comes to mind: location, location, location. All our developments here are situated in this golden belt, there simply isn't space for more houses here," Soorumaa, known as developer of the Roteremann quarter in Tallinn, said.

One of the new residential and office buildings being built by Soorumaa's company U.S. Invest AS in the Roteremann quarter is scheduled for completion this fall and the second about three years from now.

In addition the company is developing the Skyline project to build three 13-story apartment buildings on the Lasnamae hillside in Tallinn with altogether 141 apartments. The Skyline project has a price tag of approximately 20 million euros and by now the first ten levels of the first tower are ready, Soorumaa said.