Buying a bureau wastes money

A year ago, it was written in newspapers that there is no point to pay expensive rent for a bureau since the prices of real estate were rising and buying real estate gave opportunity to earn money from investments. By now, the situation has become contrary.

Real estate specialist Tõnu Toompark writes in his blog that a company that is expanding actively has no point to buy real estate.

The decision, whether to buy or lease, depends on how the managers estimate the market situation. During the peak, companies earned great profit form the real estate, independent from their core business.

Pindi Real Estate management board member Peep Sooman does not see great potential in buying a bureau. “We rather suggest companies to lease the premises since the companies’ needs may change fast and operating on lease premise gives bigger freedom of movement,” Sooman told Äripäev.

Priit Uustulnd, the executive director of Kaamos Real Estate, admits the same. According to my estimates, buying a bureau was seen during the boom. He added that owning a real estate was rather a status symbol that everyone longed for. “Better invest in your core business,” Uustulnd suggested.

Artikli autor on Sandra Taimre. Artikkel ilmus 11/08/2008 väljaandes balticbusinessnews.com.

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