Buildings With Concrete Jungles Have no Future, Says Real Estate Agent (2)
Apartments with the Soviet-era concrete jungles in Lasnamäe and Mustamäe in Tallinn and Annelinn in Tartu should be sold, as they need large investments and have little future, Pindi Kinnisvara analyst Siim Simson said.
He told Äripäev on Tuesday younger people are driven away from the areas, despite the cheaper real estate prices, as heat isolation is bad and heating prices high, walls are not sound proofed and there is a lack of parking spots, among other issues.
“As a result the average age of people living in these areas has increased, which has in turn made the problems bigger as older people are less inclined to invest in maintenance of real estate. But these concrete houses need increasing investments,” he said.
The Lasnamäe region in Tallinn is the nation's largest district, housing over 100,000 people, with the vast majority living in Soviet-era concrete high-rises. Similar districts of Mustamäe (population 65,000) in Tallinn and Annelinn (population 27,000) in Tartu are also made up of similar concrete buildings, constructed between the 1960s and 1990s.