Estonia Property Prices Lowest Since Downturn, Offers Increase
Positive changes in residential offer prices in Estonia as reflected in the kv.ee index are, despite positive forecasts, not apparent, with the index showing its lowest figure since the 2008-2010 crash, standing at 61.0 on 3 July, 2011, writes Tõnu Toompark on his adaur blog. This, however, does not represent a catastrophic drop; the figure [...]
Statistics: Commercial Real Estate Investment Has Not Declined
Investments by Estonian businesses in capital assets have grown for the second quarter in a row, year on year, writes Tõnu Toompark in his adaur blog. Real estate investments (including land, buildings, facilities construction, renovation and purchase costs) have moved into growth for the first time in three years, writes Tõnu. According to Estonian statistics office [...]
Estonian Housing Offer Prices Holding Back Market Index
As recently posted on this blog, a sluggish real estate market in provincial Estonia is having a deleterious effect on the Estonian housing market as a whole, as reflected in the kv.ee index. According to Tõnu Toompark’s Adaur blog, neither the ensuing heat that summer has brought, nor the following showers, have had an effect [...]
Index Of Repair And Reconstruction Prices In Estonia Have Risen By 1.7 Per Cent
According to Tõnu Toompark’s Adaur blog, the price index for repair and reconstruction work in Estonia appears to be following that of construction itself, seeing a recent rise. Whilst the price index for construction work in the first quarter of 2011 saw a rise of 1.5 per cent, repair and reconstruction work has seen an [...]
Bubbles And Bubble Remnants In The Estonian Real Estate Market
The time has come when talk of a rising real estate market is again on the agenda, and so it is perhaps fitting to have a little retrospective in order to understand what really happened in the Estonian real estate bubble, writes Tõnu Toompark on his adaur blog. Let’s imagine that the bubble is a [...]
Colliers: 2011 Best Year For Estonian Commercial Real Estate
Compared with the first quarter of 2010, the number of commerical real estate deals in Estonia has fallen by 18 per cent. However, their size and value has actually increased. The monthly average transaction value has risen by 48 per cent, from 39 300 Euros to 58 100 Euros, according to a survey carried out [...]
Residential Real Estate Offers In Estonia Showing An Increase
Real estate portal KV.ee’s index of property prices in Estonia seems to be on a horizontal plane at the moment, according to Tõnu Toompark’s Adaur blog. The Index currently stands at 61.9 points, 1.7 per cent lower than this time last year. However, in view of an inflation rate that exceeds the 5 per cent [...]
Euribor Increase To 1.25%: Effects On Estonian Property Market (2)
The European Central Bank (ECB)’s decision to raise the Euribor index of lending rates to 1.25% on Thursday last (7th April) perhaps comes as no surprise, and it seems likely that further rises are due for the course of 2011. Since many Estonians hold their mortgages in variable rate packages which follow the base rate, [...]
Personal Bank Deposits In Estonia Seven Times Greater Than Loans
Deposits in Estonian banks have been steadily increasing, so writes Tõnu Toompark on his blog, adaur.ee. Estonian data for February shows a total value of bank deposits of just under 10.5 billion Euros, of which 5.9 billion is held in on request accounts which can be accessed with little or no notice. Of this total [...]
Construction Insider: Tallinn Property Market Suffering From An Offers “Drought”
Astlanda OÜ board member Kajar Kruus has provided an interesting perspective on the current situation in the real estate market in Tallinn, the indicators and reasons behind its seeming upturn as well as shedding some light on the realities behind the downturn. Speaking to Tõnu Toompark’s blog, Mr Kruus said that, in a sense, the [...]
