In Tallinn, actively build housing ... so it`s cheap

26.11.2010 11:42
Currently, the center of the Estonian capital is being built about five hundred new apartments, most of which will be ready within the next year. In addition, the center approved the detailed plan on dozens of sites. The volume of supply in the market, respectively, are growing.

Prices of construction work in Estonia is now lower than ever, so many people want to finish the work begun on construction and repair as quickly as possible. Therefore, this fall and winter, the builders will be more work than usual, reports Eesti Pevaleht.

"Prices for the construction of low, while banks have become more lenient in granting loans," - said Olev Oostra, a spokesman for the repair of facades Endowi Ehitus O. This year they are 30-40% more objects than in previous years. According to him, for the first time in the history of his company`s customers are lining up.

According to Mr. Sharp for the past six months significantly increased the prices of materials. The only reason cheapness of construction - the low price inquiries builders themselves. However long it will last, and next year is expected to increase prices, he said.

Together with the volume of construction is growing and the number of proposals in the property market in Tallinn. In addition, you can see the stabilization of quotations. On average, buyers are willing to pay per square meter near the city center 18-24 thousand euros (? 1,1-1,5 thousand) and 26-31 thousand euros (? 1,6-2,0) in the heart city, reports Baltic Course.

If a couple of months ago, experts had expected that the demand for new apartments will soon exceed supply, in recent weeks you may notice a slight decrease in demand. Today in central Tallinn sold 2 thousand apartments are sold per month 90-120. Compared with last fall on the housing market in the center of the share of foreigners, especially the Finns.
Content tags: Overseas property
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