Market Overview March 2021
The roller coaster ride that characterized the real estate market in 2020 is giving way to stability in 2021. Despite the continued stifling environment of the coronavirus pandemic, both the stock market and the real estate market reflect forward-thinking consumer behavior, that is why we can say, in a fast-track manner, that the fear of inflation outweighs the fear of economic uncertainty.
The current real estate market is characterized by a low number of offers for sale, owing to the reluctance to sell immovables due to the lack of alternative options, as well as because of the aforementioned lower consumer confidence, which, however, is reinforced by stable demand.
Despite all the activity, the most important key phrase for at least the first half of the year is the low level of offers, which also negatively affects the number of real estate transactions. In addition, there is a growing demand for larger apartments, terraced houses and residential buildings in and around Tallinn, due to the fact that people spend more time at home and also want to create a home office within their living quarters.
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