Estonia, Real Estate

International Internet Magazine. Baltic States news & analytics Friday, 04.12.2020, 13:33

Real estate prices in Estonia fell in July; purchasing power also on the decline

Juhan Tere, BC, Tallinn, 03.08.2012.Print version
The Pindi Kinnisvara real estate index fell by 5.4% in July 2012, writes LETA/Postimees Online. The purchase power of a resident of Tallinn who earns average wages also fell to 68 square metres in July.

The Pindi Index that reflects the weighted average of real estate transactions in 17 largest cities in Estonia indicated that in July the volume was 838 euros per square metre. According to adjusted data, in June this indicator was 886 euros per square metre. Since April 2007, when the prices reached their peak, the index is 40% lower. In comparison with July 2009, the lowest point in prices the past few years, when the price index was 624.2 euros per square metre, the Pindi Index is 34.5% higher.

 

In June, a total of 934 transactions with flats were carried out in cities included in the index, in July the activity level on the real estate market increased, rising to 991 transactions.

 

A resident of Tallinn earning average pay can at current financing terms acquire up to 68 square metres of average housing in Tallinn, the purchase power of residents of Tartu is 73 square metres and that of the residents of Pärnu is 84 square metres.






Search site