Estonia's property boom continues
Estonia is experiencing a property boom, despite slow economic growth. Construction activity is increasing. Property demand is rising. House price rises continue to accelerate.
During the year to end-May 2015, the average price of apartments in Tallinn, Estonia’s capital, soared by 12.33% (12.43% inflation-adjusted) to €1,549 per square meter (sq. m), according to Ober Haus Real Estate Advisors. During the latest quarter, apartment prices in Tallinn rose by 4.17% (3.06% inflation-adjusted).
This is in line with figures released by Statistics Estonia, which shows that the average purchase price of dwellings in the whole country rose by 11.04% (12.04% inflation-adjusted) in the first quarter of 2015 from a year earlier, to €1,032 per sq. m.
