Analytics, Estonia, Real Estate
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Friday, 26.04.2024, 13:23
Warm weather reduces apartment sales in Tallinn
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.