Estonia, Good for Business, Real Estate

Altogether ten new projects or new stages of existing projects with 407 apartments in total were put to the market in April. Also the pace at which apartments found a buyer was high, with 339 new apartments bought or booked during the month, realtor Pindi Kinnisvara said.

Peep Sooman, sales partner at Pindi, said that the market for new developments is very active. "The increase in people's standard of living and the constant flow of residents moving to the capital city support the launch of new projects," Sooman said.

He also described as positive that more and more new developments are launched in the suburbs and in neighboring municipalities, where the prices are more favorable for the buyer and increasingly compete with the aftermarket. "There are enough expensive projects in the city center and demand is not too big, which is why the addition of new projects there has slowed down," Sooman said.

The total number of apartment building developments on the market at the moment is 117 and the number of brand new apartments on the market is 2,500, with an average price of 2,483 euros per square meter, it appears from the monthly survey by Pindi Kinnisvara.