Estonia Property News

Tallinn apartment sales market 'picking up'

Tallinn apartment sales market 'picking up'
Price rises and increased sales activity have been recorded in the Tallinn apartment market in Estonia.

According to the latest research from Ober-Haus Real Estate Advisors, property values in the capital city were up by 1.4 per cent month-on-month in September.

The organisation also noted the volume of sales has increased by 30 per cent in the first nine months of 2012, compared to the same period a year earlier.

However, although the report indicates the apartment market in Tallinn has picked up in the short term, values in the apartment sector are still down (by 1.4 per cent) year-on-year.

Ober-Haus also revealed that, since the Estonian property market reached its peak, prices of apartments in the capital city have dropped by 34.7 per cent.

It is not only Tallinn's apartment sector that appears to be picking up, as the latest figures published by Global Property Guide showed property prices in Estonia as a whole increased by 2.83 per cent in the second quarter of 2012, compared to the same three-month period a year earlier.