Real estate portal: Land market buoyant despite slowdown in apartments

Housing construction in Tallinn.
Housing construction in Tallinn. Source: Siim Lõvi/ERR

Whilst the real estate market in apartments has been slowing down in Estonia recently, the market for land has seen an accompanying upturn, according to Estonian real estate portal

The volume of plots on offer has increased by 14 per cent year-on-year (y-o-y) to 2,515 plots up for sale, 1,533 of which are in Harju County (wherein Tallinn is situated).

Over the same period the average price has grown 22% from €49 to €60 per square metre of land, again with the most frenetic change taking place in Tallinn and Harju County.

Apartment prices are rising as well, just not at the same rate, and in fact roughly in line with rises in wages, accrording to marketing chief Kristiana Põld.

"Now it is the turn for the landowners to benefit from the price rise. There are many people who are ready to gainfully swap their land plot for money when the price is right," she added.

Editor: Andrew Whyte

Source: BNS

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