Just finished polishing our fresh report of housing and rental market in Tallinn.
Using partially the words from the preface of our review – participants in the economy have largely been communicating positive messages and making promising forecasts through the whole summer period. This obviously applies also to property markets. It seems likely that the market decline has indeed bottomed out. However, there are no reasons yet to feel too inspired, as there are still a host of macroeconomic factors which are deeply troubling. There is an overall degree of uncertainty in the market. Firstly, IMHO, it’s not wise to recover from a hang-over by taking another drink.
Real estate can be taken as a bunker instrument though 🙂
So, we believe that mortgage market might become slightly more active and interest rates stay at their current level; however, consumer security is subtle and we’ll probably see a decrease in the indicators. Therefore no increase in number of property transactions or prices, but uncertainty and risks may support the activity of the rental sector. The rental market has been quite active during in previous years as property purchases and sales were restricted due to a lack of financing. This may be one of the factors which will help to increase the rental sector in Estonia.
You can find the full report at http://www.goodsonandred.com/sharedfolder/tallinn-property-market/marketreview_tallinn-property-q3-2010_web240910.pdf
What do you think? Would very much like to read your thoughts and experiences. Or if you have any questions you’d like us to address, email, tweet us or leave us a comment below or on our Tallinn Property Page.