The housing rental market is experiencing a downturn. Real estate agents are seeking new solutions.

The housing rental market in Estonia is facing a decline. Economic challenges have reduced demand for rentals, leaving many apartments without tenants. Real estate agents are exploring alternative markets such as Spain and Russia.

Due to the crisis and political instability, the housing market in Estonia is encountering difficulties. Supply is high, but buyers and renters are cautious and uncertain about the future. Nevertheless, transactions continue, albeit at a slower pace.

Scandinavian investors are exiting the market due to rising housing costs and decreased tourist interest. Short-term rentals are giving way to long-term leases, and rental prices are falling. Many property owners are selling their apartments due to higher interest rates and insufficient rental income.

Market saturation is leading to a decrease in housing prices. In Lasnamäe, the prices for two-room apartments vary depending on their condition: around 90,000 euros for unfinished units and approximately 115,000 euros for renovated ones. Rental prices range from 380 to 600 euros per month.

Construction companies are resuming projects in hopes of an economic recovery. Forecasts indicate a potential improvement in the situation, although a significant drop in prices is not expected. Additional features are often included in the cost of apartments.

Russian property owners are facing difficulties selling their real estate in Estonia due to issues with transferring funds. Some Estonians are moving to Russia upon retirement, fearing border conflicts and strict language regulations.

The pandemic and crises have shifted client preferences. Many are seeking housing abroad, particularly in Spain, where real estate is cheaper. Estonians are actively acquiring additional properties overseas as a contingency plan in case relocation becomes necessary.