Overborrowing remains a dark cloud over Estonian real estate market

Tõnu Toompark- sales representative of FKSM real estate group- says that the real estate market is very sensitive to borrowing levels.

In an interview to Ąripäev- Toompark said that he did not expect real estate prices to continue growing since people are borrowed heavily and do not want to increase their level of debt.

“I am getting the feeling that the demand for smaller and cheaper apartments is growing-” said Toompark.

Speaking of centrally located apartments in Tallinn- Toompark says that there are still plenty of buyers for housing with attractive location.

“Since there are fewer buyers for larger apartments- it may take more time to sell them but the demand is still there-” said he.

Artikli autor on Toomas Hõbemägi. Artikkel ilmus 26/07/2004 väljaandes Balticbusinessnews.com.

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