Estonian construction market set to slow

by   CIJ Baltics
2018-12-06   09:50

According to SEB bank, the Estonian construction market is set to slow significantly in the near future.. SEB analyst, Mihkel Nestor stated that although "employment is at the highest level it has ever been, and the average wage is increasing by 7% each year" and "in the long term perspective at least, loan interest remains very low", the decrease in the issue of construction permits is indicative of a downward trend. He went on to state that the large generation born at the end of the 80's has reached the age where they are buying homes, hence creating the current high demand. However, the 90's saw birth rates fall by nearly half, meaning that demand is set to fall in the near future.