In the press conference, organized on the case of KV.EE’s market review, Tõnu Toompark said that people aren’t buying real estate because the future is uncertain, aripaev.ee writes.
“People aren’t mainly buying real estate for two reasons—firstly, they are very uncertain about the future. Secondly, there are the strict loan terms—self-financing has increased, as have the demand for collateral,” he said.
According to Toompark loans aren’t given out easily because the market is unsteady and risky. “Therefore, in a way, we’re dealing with a worm eating its’ own tale, where one ting causes another and the second thing amplifies the first thing. I hope that we’ll be able to get out of the vicious circle and if not, then at least to break it,” said Toompark.
Artikli autor on Sirley Salk, artikkel ilmus 07/05/2009 väljaandes Balticbusinessnews.com.