Real estate price prediction Estonia May 2022 - extreme demand for rentals & business as usual

so hi I've been receiving a lot of questions regarding the real estate market in Estonia and if you have any questions feel free to message me or call me my phone is in the description I have what's up

most of the time I'm available because I can plan my time accordingly and let's start with the rental market

lately, i had to look for an apartment for one of my clients really good client but he has a small nice dog and it's next to impossible to find an apartment if you have a pet so if you have a pet consider buying an apartment because it's really difficult the owners at the moment have such a big choice of tenants and most of the time they don't want like with kids with dogs and so only if you are like a woman who lives alone or a guy who lives alone then you can rent an apartment which is crazy it's kind of discriminatory and i don't know if it's even legal but that's how it is at the moment so uh we have had 35 371 refugees from Ukraine most of them for the first month at least are housed by the Estonian government in hotels they have some contracts with hotels to house them and after that, they are looking for apartment rentals and it's kind of difficult for them to find an apartment too because some of the owners they consider them a risk that who knows maybe later they can't pay so what do we do we'll have to get rid of them it's kind of a bad situation so some of them avoid them but other owners like I have one owner who gave an apartment for four months for free to a lady with the kids from Ukraine really nice people hope they will get back on their feet

and so they have she already has a job and after that, she will be paying rent if all war is not over what that's the situation hope it gets over soon but as of today which is 5th of may it's already 70days this war has been for 70 days, uh a lot of people don't know but we have at least 30 to 40 000 people from Russia too who have kind of also fled Russia

they are not refugees in that sense of a world as the Ukrainian refugees but they have sold some properties in Russia or they just have the money and have escaped the iron curtain which seems to be closing in Russia

so that has increased the demand for apartment rentals I'm looking at the moment this kv index there is an index of one of the property

sites kv.ee they set up an index and it's they started in 2006 and at the moment if we look at that index that it started dropping from 108 points 17th of May 2007

and got back to the same level 2000 11th of April 2020

so during that time, it was a big drop in real estate prices and it came back to the same level for 13 years so for such a long period most the people have forgotten about it or they think that the prices bounced back quickly no they did not take 13 years for the last drop to level out and since 2020 we have had an amazing increase

which the at some point in march from the 31st of March until the 11th of April this index was stable mainly due to the

war in Ukraine so we had a lot of people who thought okay let's wait a little bit with the investments because it might be too dangerous to invest in Estonia what if Russia decides to invade Estonia so after that obviously people got accustomed to the fact that there is a war going on and some of them decided that the risks are small so everything is back to normal as of real estate buying and selling properties lately I had one have two clients for like bigger property development who told me that okay let's now we want to buy the property you're offering but uh let's wait until the 9th of may because some people are speculating that 9th of may uh Putin will
0:00 Introduction
0:34 The rental market
4:03 The rise in fall in real estate prices
5:36 The war in Ukraine influence
7:09 Real estate market sentiment
7:57 Small real estate developers at risk
9:00 Prices in different areas in Estonia
11:49 Information From the ministry of finance
12:43 Estonian taxes
14:14 Proposed increase of the min. salary to 700
15:07 The inflation numbers in Estonia
17:09 Money supply M2
18:11 The unemployment rate
21:01 An inflation projection from FITCH
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If you plan to rent, buy, or sell an apartment in Tallinn.
georgi@brokerly.ee
+37258121425

Видео Real estate price prediction Estonia May 2022 - extreme demand for rentals & business as usual канала Georgi Zanev