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Housing market in Estonia: does the ageing also matter?

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  • Angelika Kallakmaa-Kapsta

Abstract

Ten years after housing boom in Estonia the housing market has been restored. Comparing to 1997 the average notarized purchase-sale price has raised 2.3 times by 2016. It is again the question about the price level. One problem in housing market is concern about affordability issues, but there is also another aspect, that has not been paid enough attention. The proportion of older people is growing. According to the Statistics Estonia share of persons at pension age (65 years and older) has been grown from 12 % of population in early 90s to 19 % in 2017. People live increasingly longer and it is to be expected that the number and share of older people increases. The availability of comfort characteristics in the dwellings inhabited by households has improved significantly. During the lifetime the living space per person generally increases, but people may lose some of their functional abilities which may create a need for a different type of dwelling.This article seeks answers how to define the impact of an ageing population to the housing market in Estonia.

Suggested Citation

  • Angelika Kallakmaa-Kapsta, 2018. "Housing market in Estonia: does the ageing also matter?," ERES eres2018_219, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2018_219
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    More about this item

    Keywords

    ageing; Estonia; Housing Market; Housing Policy;
    All these keywords.

    JEL classification:

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

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