Estonia, Real Estate, Tourism
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Pärnu real estate prices increase up to three times in summer season
Juhan Tere, BC, Tallinn, 19.05.2011.
Print version
Print versionReal estate prices are likely to rocket in the Estonian resort town Pärnu, a popular party and beach-going destination.
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The prices for apartments and houses rent is expected to rise up to three times as compared to the winter rate, informs LETA.
Deemed Estonia's "summer capital," Pärnu will soon be flooded by both local and foreign travelers.
Rain Rätt, a real estate analyst for Ober-Haus, said rent levels have remained the same compared to a year ago, but there has been a 30% drop since the climax of the economic boom in 2007. Renters have also become more flexible, he said, to keep vacancies low in the still brittle economy.
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