Banks, Estonia, Financial Services, Real Estate

International Internet Magazine. Baltic States news & analytics Sunday, 14.04.2024, 10:02

SEB: after years of crisis, Estonians choose new homes based on long-term prospects

BC, Riga, 22.04.2014.Print version
Held under the leadership of SEB last week, a meeting of real estate buyers and sellers in Estonia confirmed that someone buying a new home today must both carefully consider their family's actual needs and compare real estate offers that meet those needs before making a decision; often, a family will establish their borrowing capacity at the bank before even inspecting property for sale, the press service of the banking group SEB said in a statement.

According to real estate companies, home seekers will make a more appropriate and speedier choice if real estate developers, brokers and the bank all cooperate for the benefit of the client, cites LETA.


"Whereas after the downturn in the economy families were more cautious in planning purchases of new homes and were likelier to postpone making big financial decisions, the past couple of years have seen a noticeable increase in interest in purchasing new homes that suit families better. Compared to the so-called boom era from 2005 to 2007, the hallmark of those interested in new homes today is their significantly higher awareness. They will no longer latch on to the first real estate offer that comes their way. Fairly careful consideration is given to actual needs and comparisons are made of apartments / private residences meeting those needs", said Triin Messimas, Development Manager of Private Loans at SEB.


Jaanus Laugus, Chairman of the Management Board at the Uus Maa real estate agency: "Now is an excellent time to be making choices on the real estate market. The real estate market is full of interesting offers, whilst prices are still attractive but on the rise. Good offers find owners quickly. The construction quality of apartments completed at new developments has risen significantly, buildings are energy-efficient and their architecture has become more interesting."


To simplify the selection of a new home, SEB is providing the Internet-based Home Chooser from this week. Start using Home Chooser by selecting suitable properties on the real estate sites.

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