Tallinn’s residential developers have set a new monthly record by placing 407 new apartments on the market during the month of April. The Estonian real estate agency Pindi Kinnisvara reports that a total of 10 new schemes were released. Despite the record supply, demand remains high as 339 new apartments were either bought or reserved in the past month. Peep Sooman, sales partner at Pindi Kinnisvara, says that continued high demand for new properties was being helped by competitive pricing. “More and more new developments are being added to the suburbs or the city border, where the sale prices are more affordable and can compete with preexisting apartment buildings.” He said that by contrast, there’s little interest in expensive units in the city center and that development there has slowed.
