Difficult times have halved the apartment prices

Those few buyers left on the real estate market are mainly after the assets of the people who are in trouble which is why in March the apartment prices had the biggest decrease in the history, aripaev.ee writes.

The average square meter price of the apartments in the city decreased in March alone by 12 pct (11 486 kroons). During the peak of the boom, a mere two years ago, the average square meter price was almost 22 000 kroons, postimees.ee reported.

Real estate expert, Tõnu Toompark, said that another 15-20 pct decrease is very likely.

Toompark highlighted rent prices as one of the reasons for decreasing prices—even with the current market prices it is cheap to rent an apartment compared to the apartment market prices.

Artikli autor on Sirley Salk. Artikkel ilmus 08/04/2009 väljaandes .

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