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Real Estate Market Development in Estonia: Demand and Supply

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  • Ene Kolbre

Abstract

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.

Suggested Citation

  • Ene Kolbre, 2005. "Real Estate Market Development in Estonia: Demand and Supply," ERES eres2005_230, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2005_230
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    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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