Estonia, Real Estate
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Thursday, 25.04.2024, 13:29
Number of new dwellings grew by 11% in Estonia in Q1
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It was noted, however, that the number of new non-residential real estate property fell.
“In 2009, the number of new non-residential property grew from quarter to quarter while in the first quarter of 2010, only 166 non-residential developments were granted permits of use,” commented Toompark. He stated that the number of new non-residential developments taken into use fell by 21% in the first quarter in the year-on-year comparison whereas the area involved in the developments was by 53% smaller than a year ago.
According to Toompark, the turnover of real estate transactions continues falling as well. “While the number of transactions on the market of dwellings has rather stabilised, in the context of the entire real estate market, the number of transactions is still falling,” he stated.
In the first quarter of 2010, 8,371 real estate transactions were carried out in Estonia – by 8% less than a year ago. The turnover involved in these transactions fell by 23% in a year.
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