Market Commentary: Estonian Residential Real Estate Q4 2009

In 2009 total number of transactions with apartments in Tallinn declined 28% and the sales volume declined 54%.  This year's fourth quarter price decrease stopped and number of transactions began to increase. There were also several block deals with lower price than average. Due the individuals and companies bankruptcies, more properties are thrown into the market, but also we can see some upward price pressure related apartments in good locations and in good shape. During next few months some financially strong developers will start with few new objects, because construction prices have fallen substantially and in some locations demand exceeds supply in certain price level. A considerable number of transactions are made without a bank loan.

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