Considering still-low consumer confidence and the events of recent months, there have been no major changes in people’s purchasing behaviour when buying real estate. Purchase decisions are being made based on need and household affordability, while security-related concerns have moved more into the background. The six-month EURIBOR, which has started to rise, had not yet had an impact in May.

The most preferred option remains a resale apartment in good or very good condition, requiring only minimal investment and work. For this reason, fully renovated so-called flip apartments in older buildings are also in demand. These are also popular among buyers who would prefer a new apartment but whose financial means do not extend that far.

Tallinn. According to the Estonian Land and Spatial Development Board, 722 apartments were sold in the capital in May, with the median price per square metre reaching 2920 €. Compared with a year earlier, the number of transactions fell by 5.7%, while the price level rose by 2.8%.

Tartu. Last month, Tartu’s apartment market was quieter compared with the rest of this year, with 103 apartments sold and the median price reaching 2502 € per square metre. The number of transactions fell by 28.5% year-on-year, while the price level increased by 1%.

Pärnu. In May, 61 apartments were sold in Pärnu at a median price of 1975 € per square metre. Compared with a year earlier, the number of transactions fell by 21.8% and the price level by 17.5%, mainly due to a lower share of newer properties.