Construction, Estonia, Real Estate
International Internet Magazine. Baltic States news & analytics
Wednesday, 15.01.2025, 06:24
Price of apartments in Tartu's tallest building fell by 60%
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As a result, the company has sold one apartment, and three have been booked.
Priit Jaagant, the chairman of Nordecon Ehitus, said that the prices for the apartments in Snail Tower are now more affordable than every before.
"The market was clearly expecting a price cut. We have many customers interested in our offer and it seems that the real estate market is slowing waking up. The big question now is how ready are banks to finance home purchases," he said.
Thirty-four of the building's 85 apartments are sold, mainly in the lower part of the 83-metre high-rise building. The current price cut was also for apartments that are lower than 13th floor. Snail Tower has 23 floors.
Nordecon International is the second-biggest publicly traded Baltic construction company. The firm was previously known as Eesti Ehitus.
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