Real estate bust in Estonia
Jun 27, 2008 Estonia, Europe, Latvia, Latvia: In English
For a while, I have been looking for numbers on Estonian real estate market, to see the similarities and the differences from Latvia. But the numbers have been hard to find. In Latvia, virtually every major real estate agency releases monthly estimates of the average apartment price in Riga.For Estonia, either I'm bad at finding such estimates or they are not made public. But, yesterday, I came across an Estonian article in which an investor calculated the averages himself. The result: advertised prices have declined 23% in last 14 months. This is quite similar to Latvian numbers that I reported on this blog.The big question is how many Eastern European countries will get affected. I talked with a Slovak colleague last week. And what I heard about the market in Bratislava sounded remarkably like Riga before the bubble burst. But, again, it has been difficult to find statistics that are directly comparable to Latvian ones...Read the rest of this entry »
Tags: Apartment Price, Blog, Bratislava, Bubble Burst, Bust, Colleague, Eastern European Countries, Eastern European economy, Estimates, Estonia, housing bubble, Investor, Latvia, Major Real Estate, Real Estate Agency, Real Estate Market, Riga, Statistics
