Analysis reveals that the impact of the war in Ukraine is being felt on the market – and that difficult times lie ahead

With property market forecasts being reassessed in the light of the war in Ukraine, price spikes are unlikely to become the new normal, writes Restate supervisory board member Ardi Roosimaa.

The Estonian economy and property market will face enormous geopolitical and financial challenges in the coming years. The business environment we have grown accustomed to will be affected by the war in Ukraine, the energy and security crisis and the increasing number of refugees fleeing the conflict in a number of ways.Moreover, the economy is still feeling the impact of the pandemic, the increased pressure on the medical system, broad-ranging price hikes, interruptions to supply chains, the rising cost of transport and the green transition. As the war rages on, these are the keywords that will mark out developments not just in the coming months, but over a much longer period.

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