Real estate developer Endover: Bigger crisis is over

Endover. Source: Siim Lõvi /ERR

Confidence of real estate buyers has risen since April and the bigger crisis is over, head of real estate developer Endover Robert Laud told daily newspaper Postimees.

"If something new doesn't happen in autumn, then I believe the market will recover entirely by spring. The indicator we are looking at ourselves is the number of sales under the law of obligations for apartments that are only being finished - this shows the level of demand. Last year, we set a record, but this year, we are clearly behind. But I think the bigger crisis is over," Laud said.

The prices of real estate has stabilized, Laud said, but there will be no price increase this year.

"There's a price drop in the real estate market, but the situation is stabilizing. We haven't noticed that it is harder for us to sell, because a lot of Airbnb apartments are now on sale," said Laud. "There is no bubble in the market: Since the last crisis, real estate prices have moved at the same pace as wage growth. Wage growth and real estate prices are currently slowing down."


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Editor: Roberta Vaino

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