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Experts Predict a Price Drop in Estonia

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Property price growth has already stopped a few months ago.

Rising interest rates and general uncertainty are likely to lead to a decline in real estate prices in Estonia in the near future, experts predict. Price growth stopped a few months ago.

Quote. Expert Tõnu Toompark said that prices are falling due to a number of factors.

"The price fall in the housing market is more likely [now] than in the last 10 years. We have a whole range of risk factors. The worst of them is energy prices, which will affect us already in September, but in addition, the risk of an economic downturn and possible problems for the labor market resulting from this," he said.

According to Toompark, real estate prices have already stopped growing, which indicates a decrease in buyer interest.

"New buildings are already available now, buyers' interest has fallen, which again is a factor that may indicate a future drop in prices if buyers do not want to buy, and sellers have real estate to offer. If at the beginning of the year there was a clear shortage of offers on the market, in July and August it was out of the question. Buyers' interest in the market of new apartments has dropped significantly," Toompark said.

Another opinion. On the other hand, Managing Director of 1Partner real estate agency Martin Vacher believes that there are still not enough apartments in Tallinn. According to him, a sharp drop in the number of transactions will signal a drop.

"Indeed, the price growth has slowed down today, but this slowdown was already in June, when the price per square meter did not increase compared to the month. It has been fluctuating up and down for three or four months now," said Vacher.

The number of people taking out mortgages has not decreased, despite the increase in the Euribor rate, which makes payments more expensive.

"People pay more attention to what the monthly payment on their loan will be, they weigh it very carefully. The price has not changed in recent months," said Anne Pärgma, head of the Housing Loans Department at Swedbank.

Examples of properties for sale in Estonia:
Flat for 2 600 euro in Pussi, Estonia
2 600 €
Flat in Pussi, Estonia
73 sq.m 4 3 1
BOOKED!!! For sale 4-room apartment (72.9 sq.m.) on the third floor of a three-storey house in Pussi. The apartment needs renovation. Pussi is a small, green town in the North-East of Estonia (Ida-Virumaa). The border with the Russian Federation is 85 km away, Tallinn is 140 km away. It is located on the banks of the Purtse River, which...
Andrei Prokofjev KINNISVARA
Flat for 3 500 euro in Pussi, Estonia
3 500 €
Flat in Pussi, Estonia
74 sq.m 3 2 1
BOOKED!!! For sale 3-room apartment with an area of 73.7 sq.m. The apartment has a bedroom, a children's study, a dining room combined with a kitchen, an entrance hall and a combined bathroom. The apartment is in good condition, partially furnished, ready to move in. An Estonian apartment in the property is a sufficient condition for...
Andrei Prokofjev KINNISVARA
Flat for 2 900 euro in Pussi, Estonia
2 900 €
Flat in Pussi, Estonia
48 sq.m 2 1 1
BOOKED!!! For sale a 2-room apartment on the 5th floor of a 30-apartment building. The condition is residential, sanitary repairs are required. Released. From the window there is a view of the pine forest. Central heating.
Andrei Prokofjev KINNISVARA
Flat for 8 000 euro in Pussi, Estonia
8 000 €
Flat in Pussi, Estonia
49 sq.m 2 1 1
Remote Transaction
For sale 2-room apartment on the second floor in excellent condition. Furnished. Ready to move in. Furniture and equipment remain - refrigerator, microwave, water heater. You will receive answers to your messages to your email.
Andrei Prokofjev KINNISVARA
Flat for 3 500 euro in Kivioli, Estonia
3 500 €
Flat in Kivioli, Estonia
57 sq.m 3 2 1
Remote Transaction
BOOKED!!! For sale a 3-room apartment on the fifth floor of an 85-apartment building. The apartment needs major repairs, including replacement of windows, doors, plumbing. The house is in good condition. The roof covering, sewer risers and water supply system were replaced. Facade insulation will be organized in the near future. You will...
Andrei Prokofjev KINNISVARA
Flat for 2 000 euro in Pussi, Estonia
2 000 €
Flat in Pussi, Estonia
32 sq.m 1 1 1
Remote Transaction
BOOKED!!! For sale one-bedroom apartment on the 5th floor of a five-storey, 30-apartment building in a small town located 10 km from the coast of the Gulf of Finland. Repairs are required. Central heating. The water pipes and sewer system have been changed. The plumbing is new. The furniture present in the photos remains. There is parking in...
Andrei Prokofjev KINNISVARA
Flat for 395 500 euro in Tallinn, Estonia
395 500 €
Flat in Tallinn, Estonia
65 sq.m 2 1 1
Online Viewing Remote Transaction Payment in RUB
New 1-bedroom apartment (65.3 м2) in a pine forest near the Botanical Garden with a view of the TV tower located in the most prestigious district of ​​Pirita, 3.5 km to the sandy beach of Pirita and to the yacht harbor. Bus stop in the front of the apartment building. New residential complex located near the Pirita River, which flows into the...
World Haus Finland
Flat for 495 500 euro in Tallinn, Estonia
495 500 €
Flat in Tallinn, Estonia
80 sq.m 4 3 2
Online Viewing Remote Transaction Payment in RUB
New 3-bedroom apartment (80.2 m2) in a pine forest near the Botanical Garden with a view of the city TV tower located in the most prestigious district of ​​Pirita, 3.5 km to the sandy beach of Pirita and to the yacht harbor. Bus stop in the front of the apartment building. New residential complex located near the Pirita River, which flows into...
World Haus Finland
Townhouse for 695 500 euro in Tallinn, Estonia
695 500 €
Townhouse in Tallinn, Estonia
134 sq.m 5 4 3
Online Viewing Remote Transaction Payment in RUB
New 4-bedroom apartment in 2-storey townhouse (133.80 m2) in a pine forest near the Botanical Garden with a view of the TV tower located in the most prestigious district of ​​Pirita, near the Pirita River, 3.5 km to the sandy beach of Pirita and to the yacht harbor. Bus stop in the front of the apartment building. Windows are facing the south...
World Haus Finland
Flat for 3 500 euro in Kivioli, Estonia
3 500 €
Flat in Kivioli, Estonia
56 sq.m 3 2 1
BOOKED!!! For sale is a 3-room, corner apartment on the first floor of a five-storey panel house in a small town in Northeastern Estonia - Kiviili. Major repairs are required. Central heating, balcony.
Andrei Prokofjev KINNISVARA
Flat for 6 000 euro in Kohtla-Jarve, Estonia
6 000 €
Flat in Kohtla-Jarve, Estonia
65 sq.m 3 2 1
There is the 3-room flat for sale. No debt, no credit. No shower and tub. The flat was under constuction , but stopped. Need restore. Notary bargain, through notary's account deposit.
Private person
Flat for 5 000 euro in Kohtla-Jarve, Estonia
5 000 €
Flat in Kohtla-Jarve, Estonia
50 sq.m 2
There is the 2-room flat for sale. No debt, no credit. Central home water supply. No shower and tub. Need restore. Notary bargain, through notary's account deposit.
Private person
Flat for 10 990 euro in Pussi, Estonia
10 990 €
Flat in Pussi, Estonia
58 sq.m 3 2 1
Payment in RUB
For sale a two-bedroom apartment in the village of Pussi. By commuter train 45 minutes to Narva, less than two hours to Tallinn. The train station is a 7-minute walk away. There is a bus stop next to the house. The coast and the beach of Limala are 8 minutes away by car. The apartment is ready to move in - up to bed linen and basic dishes....
Private person
Flat for 3 900 euro in Pussi, Estonia
3 900 €
Flat in Pussi, Estonia
72 sq.m 4 3 1
Remote Transaction
For sale a 4-room apartment in a residential condition on the 3rd floor of a 3-storey apartment building (114 apartments) in a small, green town in Northeastern Estonia. Released, repair required. The old furniture remains in the apartment. The border with the Russian Federation is 80 km away, on the bank of the river, 10 km from the coast of...
Andrei Prokofjev KINNISVARA
Flat for 1 500 euro in Kivioli, Estonia
1 500 €
Flat in Kivioli, Estonia
22 sq.m 1 1 1
Remote Transaction
BOOKED!!! For sale one-bedroom apartment on the first floor of a 120-apartment building. Repairs are needed. The coast is 13 km away (Limala beach). The location is indicated on the map. Transport links to the nearest cities, as well as Tallinn and Narva. Photos of the apartment will be added after September 10.
Andrei Prokofjev KINNISVARA
Apartment for 330 000 euro in Tallinn, Estonia
330 000 €
Apartment in Tallinn, Estonia
76 sq.m 2 1 1
Contact a Habita representative for more information about this facility.
Habita International Estates Ltd

Source: ERR
Photo by Stanislav Rabunski on Unsplash

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