Analytics, Construction, Estonia, Real Estate

According to the study, the number of people who intend to buy real estate in the next 2-3 years has increased in three months from 8 to 11%.

33% of the polled consider buying real estate a favourable activity versus 37% in December.

RECU CEO Tõnis Rüütel said that these are worryingly contradicting messages.

"When we add here a fact that already 29% of young people under the age of 30 intend to acquire real estate in the next few years, then it is clearly a sign of danger," he said, adding that in December the percentage was 20. In December, 58% of people who intend to buy real estate were under the age of 30 but now the share is already 67%.

"Young people in that age lack a personal economic recession experience in essence," said Rüütel. "Growing wages, increasing employment and shortage of experience has led young people to boldness that can start dominating at the whole Estonian real estate market but that is certainly a situation that real estate companies don’t favour," he said. "Thousands of people haven’t yet gotten free of the loan trap but the new generation already starts repeating the mistakes of their parents," said Rüütel.