The time for caution has passed, and fresh winds have blown in the housing construction sector. Starting from September, developers’ business projects have again appeared on the tables of banks’ credit committees, writes dv.ee.Experts of the real estate market speak with one voice about a turning point in the housing market. In general, the information corresponds to what developers have already announced: the holiday of buyers is over. But what will happen next?
A typical khrushchevka in a panel house is sold much faster and grows in price. This, in turn, pushes buyers to new buildings that have been on the market for a long time.
The number of offers on the housing market is shrinking, Arco Vara real estate analyst Mihkel Eliste noted in a radio interview. This is in line with what Uus Maa board member and analyst Igor Habal said earlier – the housing market is changing and the ball is shifting from the buying team to the selling team. “Inventory is selling out but buyers are staying, in response sellers are starting to raise prices. I see this as a tipping point in real estate – yes, the tax hikes early in the year will cool the market, but that effect is unlikely to be very strong…. In the spring and closer to the summer we will still see that prices will really start to rise,” he said.
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