Tallinn rental offers in May up 75 percent from in a year
According to real estate portal kv.ee, there were 3,536 rental offers in Tallinn in May, which is 75 percent more than May of last year.
The coronavirus pandemic has affected real estate markets heavily. Alongside new proposed legislation from Tallinn mayor Mihhail Kõlvart, the market for guest apartments will also change in the coming months.
According to kv.ee, many apartments formerly listed on platforms such as Airbnb have now been listed as rentals on real estate platforms. In many regions of Tallinn, the amount of rental offers has increased several times.
While demand has not risen up to normal levels, the high season for rentals is coming up.
The pressure is on rental prices as well. The average cost for a rental in Tallinn in May was €10.90 per m², down 7 percent from May of last year.
Representatives of the portal say that the drop in offers is surprisingly small, considering that the price drop of rentals has been up to 20 percent from January.
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Editor: Kristjan Kallaste
