{"id":2490927,"date":"2023-10-31T15:01:50","date_gmt":"2023-10-31T13:01:50","guid":{"rendered":"https:\/\/uusmaa.ee\/?p=2490927"},"modified":"2023-10-31T15:02:24","modified_gmt":"2023-10-31T13:02:24","slug":"real-estate-market-situation-homes-are-still-in-demand","status":"publish","type":"post","link":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/","title":{"rendered":"Real Estate Market Situation: Homes Are Still in Demand"},"content":{"rendered":"
\"\"<\/picture>
Real Estate Market Situation: Homes Are Still in Demand<\/figcaption><\/figure>\n

To be completely candid, it seems that not a single day has gone by in the past couple of months without someone asking me \u2013 what is happening in the real estate market? Is it at a standstill or even on the decline?<\/strong><\/p>\n

There is still a lot of uncertainty about the future \u2013 how high will Euribor rise? Will my job be secure? Which direction are global conflicts headed? All of this doesn\u2019t exactly contribute to a positive overall mood, and it\u2019s not limited to the real estate market alone.<\/p>\n

However, regardless of the circumstances that surround us, the real estate market doesn\u2019t come to a complete halt. Buying principles may be evolving somewhat, but the fundamental need for a home remains constant.<\/p>\n

Purchases Are Necessity-Driven<\/h2>\n

Transactions are highly necessity-driven \u2013 when one\u2019s current residence becomes too small or too large, people start searching for a new and suitable place. Children are born, grown-up children move out, couples move in together, others\u2026 separate. The need for homes is constantly evolving, irrespective of the developments in the wider world.<\/p>\n

A-rated energy-efficient houses and apartments are still in demand \u2013 energy efficiency and low maintenance costs are significant factors in both the higher and lower price range properties.<\/p>\n

\u201cHidden gems\u201d seekers are also still in the market. These may include larger penthouses in coastal areas, the Old Town, which has regained its appeal, and Kadriorg, which remains a hot area. Furthermore, there are \u201chidden gems\u201d in the form of larger seaside estates in Pirita, Viimsi, and Kakum\u00e4e. In short, everything that is scarce and not likely to increase.<\/p>\n

Investing in apartments through loans has waned. Euribor\u2019s movement is unclear, and the risks are high. The once vocal small investors who encouraged leveraging have gone silent.<\/p>\n

Lower Prices Are More Likely in the Secondary Market<\/h2>\n

Will the prices of new apartments drop? Probably not. As long as construction costs remain stable and the unemployment rate doesn\u2019t significantly rise, prices are unlikely to decline. In addition, developers are now leaning towards renting unsold apartments instead of selling them.<\/p>\n

Adjustments are more likely to occur in the secondary market, primarily among owners who need to sell quickly. For high-quality properties where time is not pressing, there is virtually no room for negotiation.<\/p>\n

Exercise Prudence and Keep Emotions in Check<\/h2>\n

Just like at any time, it is advisable to make informed and well-thought-out decisions now. Some have been comparing the current situation to the crisis of 2008. I must admit that there are some similarities, but there are also many differences.<\/p>\n

During the previous crisis, a significant portion of real estate was purchased with loans, while savings were nearly nonexistent. However, in the transactions made in recent years, about 50% were bought with borrowed money, and Estonians have more savings now than ever before. This means that the Euribor change doesn\u2019t directly affect nearly half of the real estate buyers.<\/p>\n

Loan conditions have been much stricter since the previous crisis, and all potential future prospects and risks have been more thoroughly considered. In addition, people\u2019s financial skills have improved \u2013 they are more likely to forgo a luxury item or a trip rather than leave their home loan unpaid. Therefore, a loan crisis like the one we experienced in the last decade is not anticipated at present.<\/p>\n

In summary, the current situation is \u201cwait and see\u201d \u2013 people are observing and evaluating, and when the right home is on the horizon, decisions are made.<\/p>\n

Lii Salusaar (Certified Real Estate Agent at Uus Maa Luxum)<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

To be completely candid, it seems that not a single day has gone by in the past couple of months without someone asking me \u2013 what is happening in the real estate market? Is it at a standstill or even on the decline? There is still a lot of uncertainty about the future \u2013 how …<\/p>\n","protected":false},"author":20,"featured_media":2490928,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12050,12052,12055,12049,12056],"tags":[],"class_list":["post-2490927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-sales","category-real-estate-market","category-useful","category-uus-maa-in-media"],"acf":[],"yoast_head":"\nReal Estate Market Situation: Homes Are Still in Demand – Uus Maa Kinnisvarabüroo<\/title>\n<meta name=\"description\" content=\"There is still a lot of uncertainty about the future - how high will Euribor rise? Will my job be secure? Which direction are global conflicts headed? All of this doesn't exactly contribute to a positive overall mood, and it's not limited to the real estate market alone. However, regardless of the circumstances that surround us, the real estate market doesn't come to a complete halt. Buying principles may be evolving somewhat, but the fundamental need for a home remains constant.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Real Estate Market Situation: Homes Are Still in Demand – Uus Maa Kinnisvarabüroo\" \/>\n<meta property=\"og:description\" content=\"There is still a lot of uncertainty about the future - how high will Euribor rise? Will my job be secure? Which direction are global conflicts headed? All of this doesn't exactly contribute to a positive overall mood, and it's not limited to the real estate market alone. However, regardless of the circumstances that surround us, the real estate market doesn't come to a complete halt. Buying principles may be evolving somewhat, but the fundamental need for a home remains constant.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/\" \/>\n<meta property=\"og:site_name\" content=\"Uus Maa Kinnisvarabüroo\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/uusmaakinnisvarabyroo\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-31T13:01:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-31T13:02:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uusmaa.ee\/wp-content\/uploads\/2023\/10\/uudise-pilt-96-1-1024x576.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Kelly Kalm\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kelly Kalm\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Real Estate Market Situation: Homes Are Still in Demand – Uus Maa Kinnisvarabüroo","description":"There is still a lot of uncertainty about the future - how high will Euribor rise? Will my job be secure? Which direction are global conflicts headed? All of this doesn't exactly contribute to a positive overall mood, and it's not limited to the real estate market alone. However, regardless of the circumstances that surround us, the real estate market doesn't come to a complete halt. Buying principles may be evolving somewhat, but the fundamental need for a home remains constant.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/","og_locale":"en_US","og_type":"article","og_title":"Real Estate Market Situation: Homes Are Still in Demand – Uus Maa Kinnisvarabüroo","og_description":"There is still a lot of uncertainty about the future - how high will Euribor rise? Will my job be secure? Which direction are global conflicts headed? All of this doesn't exactly contribute to a positive overall mood, and it's not limited to the real estate market alone. However, regardless of the circumstances that surround us, the real estate market doesn't come to a complete halt. Buying principles may be evolving somewhat, but the fundamental need for a home remains constant.","og_url":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/","og_site_name":"Uus Maa Kinnisvarabüroo","article_publisher":"https:\/\/www.facebook.com\/uusmaakinnisvarabyroo","article_published_time":"2023-10-31T13:01:50+00:00","article_modified_time":"2023-10-31T13:02:24+00:00","og_image":[{"width":1024,"height":576,"url":"https:\/\/uusmaa.ee\/wp-content\/uploads\/2023\/10\/uudise-pilt-96-1-1024x576.png","type":"image\/png"}],"author":"Kelly Kalm","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Kelly Kalm","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/#article","isPartOf":{"@id":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/"},"author":{"name":"Kelly Kalm","@id":"https:\/\/uusmaa.ee\/en\/#\/schema\/person\/192ae64557f30d880ac795be45773de0"},"headline":"Real Estate Market Situation: Homes Are Still in Demand","datePublished":"2023-10-31T13:01:50+00:00","dateModified":"2023-10-31T13:02:24+00:00","mainEntityOfPage":{"@id":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/"},"wordCount":621,"publisher":{"@id":"https:\/\/uusmaa.ee\/en\/#organization"},"image":{"@id":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/#primaryimage"},"thumbnailUrl":"https:\/\/uusmaa.ee\/wp-content\/uploads\/2023\/10\/uudise-pilt-96-1.png","articleSection":["News","Property sales","Real estate market","Useful","Uus Maa in media"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/","url":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/","name":"Real Estate Market Situation: Homes Are Still in Demand – Uus Maa Kinnisvarabüroo","isPartOf":{"@id":"https:\/\/uusmaa.ee\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/#primaryimage"},"image":{"@id":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/#primaryimage"},"thumbnailUrl":"https:\/\/uusmaa.ee\/wp-content\/uploads\/2023\/10\/uudise-pilt-96-1.png","datePublished":"2023-10-31T13:01:50+00:00","dateModified":"2023-10-31T13:02:24+00:00","description":"There is still a lot of uncertainty about the future - how high will Euribor rise? Will my job be secure? Which direction are global conflicts headed? All of this doesn't exactly contribute to a positive overall mood, and it's not limited to the real estate market alone. However, regardless of the circumstances that surround us, the real estate market doesn't come to a complete halt. Buying principles may be evolving somewhat, but the fundamental need for a home remains constant.","breadcrumb":{"@id":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/#primaryimage","url":"https:\/\/uusmaa.ee\/wp-content\/uploads\/2023\/10\/uudise-pilt-96-1.png","contentUrl":"https:\/\/uusmaa.ee\/wp-content\/uploads\/2023\/10\/uudise-pilt-96-1.png","width":1920,"height":1080,"caption":"Real Estate Market Situation: Homes Are Still in Demand"},{"@type":"BreadcrumbList","@id":"https:\/\/uusmaa.ee\/en\/real-estate-market-situation-homes-are-still-in-demand\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Uus Maa kinnisvarab\u00fcroo","item":"https:\/\/uusmaa.ee\/en\/"},{"@type":"ListItem","position":2,"name":"Real Estate Market Situation: Homes Are Still in Demand"}]},{"@type":"WebSite","@id":"https:\/\/uusmaa.ee\/en\/#website","url":"https:\/\/uusmaa.ee\/en\/","name":"Uus Maa Kinnisvarab\u00fcroo","description":"Turuliider Uus Maa Kinnisvarabüroo – 30 aastat rahulolevaid kliente","publisher":{"@id":"https:\/\/uusmaa.ee\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/uusmaa.ee\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/uusmaa.ee\/en\/#organization","name":"Uus Maa","url":"https:\/\/uusmaa.ee\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uusmaa.ee\/en\/#\/schema\/logo\/image\/","url":"https:\/\/uusmaa.ee\/wp-content\/uploads\/2024\/05\/UM_base_logo_color_215x33px.svg","contentUrl":"https:\/\/uusmaa.ee\/wp-content\/uploads\/2024\/05\/UM_base_logo_color_215x33px.svg","width":215,"height":33,"caption":"Uus Maa"},"image":{"@id":"https:\/\/uusmaa.ee\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/uusmaakinnisvarabyroo","https:\/\/www.linkedin.com\/company\/uus-maa-kinnisvarab-roo","https:\/\/www.youtube.com\/user\/uusmaa20"]},{"@type":"Person","@id":"https:\/\/uusmaa.ee\/en\/#\/schema\/person\/192ae64557f30d880ac795be45773de0","name":"Kelly Kalm","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/aa091c8e82238afef5b4633d45a593395059fdd56138c0f15344af17b18d591e?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/aa091c8e82238afef5b4633d45a593395059fdd56138c0f15344af17b18d591e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/aa091c8e82238afef5b4633d45a593395059fdd56138c0f15344af17b18d591e?s=96&d=mm&r=g","caption":"Kelly Kalm"},"url":"https:\/\/uusmaa.ee\/en\/author\/kelly\/"}]}},"_links":{"self":[{"href":"https:\/\/uusmaa.ee\/en\/wp-json\/wp\/v2\/posts\/2490927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uusmaa.ee\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uusmaa.ee\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uusmaa.ee\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/uusmaa.ee\/en\/wp-json\/wp\/v2\/comments?post=2490927"}],"version-history":[{"count":0,"href":"https:\/\/uusmaa.ee\/en\/wp-json\/wp\/v2\/posts\/2490927\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uusmaa.ee\/en\/wp-json\/wp\/v2\/media\/2490928"}],"wp:attachment":[{"href":"https:\/\/uusmaa.ee\/en\/wp-json\/wp\/v2\/media?parent=2490927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uusmaa.ee\/en\/wp-json\/wp\/v2\/categories?post=2490927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uusmaa.ee\/en\/wp-json\/wp\/v2\/tags?post=2490927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}