Real estate transactions down 29 pct

In Q2 9,762 notarized real estate transactions were concluded, which is 29 pct less than at the same time last year, real estate specialist Tõnu Toompark writes in his blog at aripaev.ee.

Total value of these transactions was EEK 10 bln, which is 41 pct less than a year ago. The smaller number is caused by lowered prices in nearly all areas and real estate sectors.

At the moment it’s difficult to predict when lowering of deals could stop. It’s likely not to happen before autumn 2009. Pessimists wait for even longer low-tide to number of deals and real estate prices.

Artikli autor on Marge Tubalkain-TrellMarge Tubalkain-Trell. Artikkel ilmus 13/10/2008 väljaandes Balticbusinessnews.com.

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