According to real estate analyst Tõnu Toompark, the top-selling project in December was Endover’s Volta Residences. There were also transactions with apartments in the Kopli Liinid development. This indicates that the developments of Põhja-Tallinn and Kalamaja, even in the passive market, remain much more preferable than others, since the entire area is developing, the location is good, and the buildings themselves are attractive.
According to Olari Vokk, Head of Sales at Endover, the December statistics show that the real estate market is not frozen, as many say lately – rather it is constantly changing. In today’s environment, smaller apartments with lower fixed costs are more popular. The buyers of luxury real estate have not disappeared either, as there is a shortage in this niche in the market.
“Our experience shows that in changing circumstances, it is necessary to first study the needs of people and adapt the strategy based on their expectations. Today’s buyer thought about making the decision for a long time. He has a clearer idea of the actual costs associated with buying an apartment. Buyers are adjusting to Euribor growth and inflation. They more accurately analyse and estimate the future value of homes and related costs. Therefore, transactions are planned and weighed very carefully,” Vokk explained.
