TALLINN — Estonian real estate prices are finally picking up after being cut in half by the economic crisis.

According to an index calculated by Pindi Kinnisvara, an Estonian real estate company that archives apartment transactions, real estate prices rose 7.5 percent in first six months this year. The average price in June 2010 was 11,565 krooni per square meter, while in [private_supervisor]January the average price was 10,762 krooni per square meter. However, despite of the slight rise, compared to April 2007, the price is down by 17.1 percent.

Mart Siilivask, press spokesman of Swedbank, said the real estate market is stabilizing.

“The number of transactions is rising since the beginning of last year,” Siilivask told Baltic Reports.

Meanwhile the building sector, one of the hardest-hit areas of the economy by the crisis is also recovering.

After a year of mostly inactivity due to the economic crisis, Estonia’s biggest real estate developers are launching new projects to take advantage of lowered construction and labor prices.

Arco Vara, Merko Ehitus, Endover KVB, and YIT have already initiated their projects. Banks are prepared to finance other developments, too, but the selection criteria is more strict then in the past, increasing the rate of self-financing. [/private_supervisor] [private_subscription 1 month]January the average price was 10,762 krooni per square meter. However, despite of the slight rise, compared to April 2007, the price is down by 17.1 percent.

Mart Siilivask, press spokesman of Swedbank, said the real estate market is stabilizing.

“The number of transactions is rising since the beginning of last year,” Siilivask told Baltic Reports.

Meanwhile the building sector, one of the hardest-hit areas of the economy by the crisis is also recovering.

After a year of mostly inactivity due to the economic crisis, Estonia’s biggest real estate developers are launching new projects to take advantage of lowered construction and labor prices.

Arco Vara, Merko Ehitus, Endover KVB, and YIT have already initiated their projects. Banks are prepared to finance other developments, too, but the selection criteria is more strict then in the past, increasing the rate of self-financing. [/private_subscription 1 month] [private_subscription 4 months]January the average price was 10,762 krooni per square meter. However, despite of the slight rise, compared to April 2007, the price is down by 17.1 percent.

Mart Siilivask, press spokesman of Swedbank, said the real estate market is stabilizing.

“The number of transactions is rising since the beginning of last year,” Siilivask told Baltic Reports.

Meanwhile the building sector, one of the hardest-hit areas of the economy by the crisis is also recovering.

After a year of mostly inactivity due to the economic crisis, Estonia’s biggest real estate developers are launching new projects to take advantage of lowered construction and labor prices.

Arco Vara, Merko Ehitus, Endover KVB, and YIT have already initiated their projects. Banks are prepared to finance other developments, too, but the selection criteria is more strict then in the past, increasing the rate of self-financing. [/private_subscription 4 months] [private_subscription 1 year]January the average price was 10,762 krooni per square meter. However, despite of the slight rise, compared to April 2007, the price is down by 17.1 percent.

Mart Siilivask, press spokesman of Swedbank, said the real estate market is stabilizing.

“The number of transactions is rising since the beginning of last year,” Siilivask told Baltic Reports.

Meanwhile the building sector, one of the hardest-hit areas of the economy by the crisis is also recovering.

After a year of mostly inactivity due to the economic crisis, Estonia’s biggest real estate developers are launching new projects to take advantage of lowered construction and labor prices.

Arco Vara, Merko Ehitus, Endover KVB, and YIT have already initiated their projects. Banks are prepared to finance other developments, too, but the selection criteria is more strict then in the past, increasing the rate of self-financing. [/private_subscription 1 year]

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