Estonian real estate oracles: 10% market growth in 2007

While doomsday scenarios are popular...

Every Tom, Dick, and Harry has weighed in on the Estonian real estate market, and most armchair oracles have safely concluded that what goes up must come down, and that the market in Estonia is due for a slowdown. Pindi Real Estate’s CEO, Peep Sooman, begs to differ. Sooman says that while it’s fashionable to write about the market in pessimistic tones, he (among other soothsayers) predicts 10 percent overall growth. “The real estate fairytale is ending and the market is returning to reality,” writes Sooman. “This does not mean any kind of crisis – the market will just be operated by the ordinary market economy principles again.”