Real Estate Market Development in Estonia: Demand and Supply
||Real Estate Market Development in Estonia: Demand and Supply
||Book of Abstracts: 2005 European Real Estate Society conference in association with the International Real Estate Society
||The history of Estonian real estate market dates back to the early 1990s and its development, starting from its early days, has been fast in general, though variable in rates in different sectors of the real estate market. The article seeks to provide an overview of and analyse development of different real estate market sectors over the last decade, discussing separately the supply and demand side. The development of the market has been investigated from three main aspects. First, we evaluate the development and changes of Estonian economic environments and provide linkages to the general development of the real estate market. The subjects of research here are: GDP, inflation, interest rates, total turnover of the real estate market and real estate prices. Second, in greater detail we analyse demand and factors that influence demand in individual real estate market sectors. Third, we investigate supply of the real estate market, or real estate development activity, the factors that facilitate and inhibit this development.
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