[size=55:hhit1tni]Focus 21 September 2010

Upswing in demand for small homes, large flats put up for sale

Though the local banks have resumed mortgage lending to a decent level, the number of real estate deals on the local market is still not moving up. Experts believe the reason for this stalemate lies in the persisting lack of balance between demand and supply in the property business at the moment. While sellers have been trying to market large flats (100 square meters and over), buyers have been focusing on smaller homes and slimmer prices (somewhere between EUR 40, 000 and EUR 50, 000).
According to Address Real Estate officials, the real property market will not see any tangible changes by the end of 2010, since the crisis is keeping the prices at their current levels, if not down in some residential areas, buyers dispose of less cash and banks are reluctant to give away bulky sums.