09.10.2008 - How does global financial crisis affect Estonian real estate market?
From Baltic Business News: Financial crisis and downturn of real estate prices mean that every loan kroon sent to real estate market by banks is linked with notable risk – value of property which is guaranteeing the loan is lowering and it’s very complicated to sell when problems occur. So for banks is more reasonable to limit the loan giving. Roughening the loan conditions is bounding the mass of money moving in the market and therefore cuts the amount of deals even lower. Smaller amount of deals makes prices go even lower..... Full Article: Source