“A common problem in Europe is that we regulate ourselves to the point of poverty. In Estonia, they try to be even more advanced and regulate even more than the European Union requires,” said Andres Aavik, chairman of the Liven Council and chairman of the board of the Estonian Real Estate Companies Association, writes dv.ee.Although regulation is slowing down the real estate market, the end of the year turned out to be unexpectedly good, Aavik noted on the air of Radio Äripäev.
The decline in Euribor also supported the real estate market even amid low consumer confidence, he said.
According to Aavik, many people are buying real estate now to avoid tax hikes next year. “I don’t think we are in for a sharp jump, more of a smooth recovery,” he said about the outlook for next year.
Read more at dv.ee.
