According to a report on Tõnu Toompark’s Estonian Property Adaur blog, 50 per cent of new residential accomodation in Estonia consists of two and three room apartments. Tõnu bases his report on data from the Estonian statistics office.
On the other hand, one room new apartments have diminshed in number, making up only six per cent of the total (compare with 2006 where the figure was 14 per cent).
The economic downturn beginning in 2008 and bursting of the bubble in real estate in Estonia are the factors behind this change, says Tõnu. In economically difficult times, when demand is inhibited, there will be fewer apartments built, and with smaller room sizes, but with fewer single room apartments (which tends to take place during boom times to maximise value per square metre) Tõnu goes on. At the same time, the number of single-family dwellings with a larger number of rooms will necessarily be proportionately larger, Tõnu adds.
For the original article (in Estonian) including detailed diagrams on how the proportions and numbers of different types of dwellings (from 1 to 6+ rooms) from 1993-2011 and regional variations in Estonia as regards numbers and sizes (in square metres) of residential permits issued since 2000, plus statistics on residential types in Estonia since 2000, visit Tõnu’s Adaur blog.
Andrew Whyte
Tallinn Property by Goodson & Red
