Toomas Hõbemägi, BBN 28.03.2013
Tõnu Toompark, real estate analyst, said that there are vast differences in prices in different parts of Estonia, but not in the number of property transactions per 1,000 people.
“While in Estonia in average you have about 20 real estate transactions for every thousand people, the figure in Kohtla-Järve is 22 and in Tallinn it is 26,” said Toompark.
In Tallinn, average square metre of apartment costs 1,100 euros. In Kohtla-Järve it is 102 euros, said the analyst. Prices have gone up 7% in Tallinn over a year, but 16% in Narva.
Toompark said that property prices have been going up both in listings and in actual transactions.
“This is being influenced by the number of new developments, but if you look at offers for the same building today and a year ago, you can see that the prices have been growing,” he added.
Apartments in NE Estonia cost as much as 1 sqm in Tallinn Old Town