Estonian housing market: In the wind of changes

Angelika Kallakmaa

ERES from European Real Estate Society (ERES)

Abstract: In the last three years the world has been moved from one crisis to the other one. There are so many factors that had crashed the stability in previous paradigms. The level of uncertainty is growing in all countries. The purpose of this paper is defining the movements on Estonian housing market and trying to evaluate the possible impact of COVID- 19 crises. Does the COVID crisis had an impact and how significant the impact is/was to the movements on the housing market. Firstly, the article describes economic background and trends before COVID crises. Secondly, the analysis the activity and dynamics of housing market transactions and prices in pre and during the COVID-19 time. Trying to find an answer does the COVID time change the preferences of homeowners to change the living space from city to the countryside. There is obviously an impact of energy crises and problem with rising maintain costs, but there is a need for future research. Finally, there is still in air the geopolitical risk, that seems to have not an impact to the housing market yet.

Keywords: COVID 19; Crisis; Estonia; housing (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2023-01-01
New Economics Papers: this item is included in nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2023_238

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