Analytics, Estonia, Real Estate

International Internet Magazine. Baltic States news & analytics Tuesday, 19.03.2019, 08:12

Warm weather reduces apartment sales in Tallinn

BC, Tallinn, 10.08.2018.Print version
Warm summer weather reduced apartment sales in and around Tallinn in June and July, Peep Sooman, sales partner at the real estate agency Pindi Kinnisvara, said LETA/BNS.

According to Sooman, the extraordinarily long heat wave in June and July affected the behavior of consumers. "Buyers are not gone from the market, but on a hot day they rather think about where to get ice cream or a cold beer and calculations with big numbers are postponed until a colder period," he said in a press release.

At the same time, in the first seven months of the year 2,100 new apartments were sold or booked in Tallinn and Harju County. "The sale of more expensive apartments in central Tallinn is slow, but there is still a lot of interest in apartments located in the outskirts of Tallinn and near the city," he added.

As at the end of July, 122 different apartment house development projects with 2,688 vacant apartments were on the market in Harju county, which includes the capital Tallinn, with an average price of 2,525 euros per square meter.

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