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Want to invest in real estate? Expert explains what needs toconsider

Хотите инвестировать в недвижимость? Эксперт объясняет, что нужно учитывать

Real Estate – is an investment, which has given many Estonian people the opportunity to gain additional income. Head of Retail Banking Services Luminor Baltic Tanel Rebane explains, Which type of real estate is to attention if the primary purpose of purchasing is to increase the value of your property.Over the last decade prices for real estate in Estonia have increased approximately by 8% per year, but the market still has some properties that are pricing slightly faster than the average. “Faster than all the costs of housing which is more demanding, that is more available and relatively unaffordable for more people. For example, an apartment in a major city is particularly in those
neighborhoods where people like to live, says Tanel Rebane. But it is important to keep in mind that prices for real estate in Estonia in the last years have increased significantly faster, than in many other European countries. “In the period from 2010 to 2023 years Estonia had the fastest increase in real estate prices in the European Union, which led to a deterioration in the affordability of housing. Although prices in Europe have not completely equalized, the early fast growth means, that in the future prices on real estate are unlikely to increase at the same rate, ” Rebane explained. He added, that if you buy an apartment in a new building in the Kalamai district and wait,
that in the nearest future price could double, that it is not to hope, as the primary point is already very high. Tem nevertheless, prices for real estate with time are usually increasing. Although purchasing real estate in Tallinn and Tartu, more likely to and will continue to be an investment with very good growth potential, the large cities of Estonia may be not the only good places to invest
in real estate. For example, he noted that in many smaller cities the price of real estate is increasing significantly faster, than the country average, and sometimes on the contrary, significantly slow. “Real estate prices are rising faster in areas with high concentration of businesses and recently beginning population growth. The real estate in these neighborhoods are also hunted by investors, wanting not only to receive rental income,
but first and foremost, increase the value of your real estate, ” said he and added, that the most important thing when planning is to know the area and the demand in this area. According to the head of the retail banking services Luminor Luminor Baltic, since many people in Estonia believe in the prospect of real estate, It is clear that people are becoming more informed, when it comes to making decisions about investing in real estate. Because of this,
peopleoftendecidetoinvestinreal estate.”Becausereal estatewhenwantedcansell,rentorexchangeformoresuitable,<"For many people, it has become an attractive option for additional income," he said.

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