Everaus Forecasts Revenue of Up to 20 Million Euros This Year

According to Everaus Kinnisvara, Estonia's new development market is moving back towards a moderate growth trend after nearly three years of uncertainty. The company forecasts 2026 revenue of 18–20 million euros and enters the second half of the year with binding agreements worth approximately 15 million euros.

According to Everaus Kinnisvara CEO Janar Muttik, the first half of 2026 confirmed that the market downturn is receding, although the recovery has not been straightforward. "The beginning of the year turned out better than expected on the real estate market. We saw an increase in the number of purchase decisions and a sense that people are no longer waiting for real estate prices to fall. At the same time, there was a temporary setback in spring, as geopolitical uncertainty and fear of rising interest rates caused some buyers to postpone their decisions. At the beginning of summer, client activity increased and the number of reservations and transactions began to grow again," Muttik described in the company's half-year overview.

Everaus Kinnisvara sold 18 new homes in the first half of 2026, and June's activity provides grounds to expect a stronger second half. "Binding agreements are currently concluded worth approximately 15 million euros, which provides good visibility for future cash flows. The 2026 revenue forecast remains in the range of 18–20 million euros," noted Muttik. The company's portfolio includes several completed and upcoming residential development projects in Harju County, and Everaus has now also entered the Tartu market, where construction work began on the Kõrveringi Kodud development project.

In Harju County, development of Luige Kodud, Kindluse Kodu, and Kangru Kodud continues. On the commercial real estate side, two important new facilities were completed in 2025 and early 2026. The Tasandi Miniladu building with 341 mini-warehouses was completed in Haaberstis, and Lennuraadar stock-office warehouse spaces with a total area of 4,054 square meters were completed in the Suur-Sõjamäe area. The company's commercial real estate portfolio occupancy was 91% in total, and the occupancy of new commercial buildings has developed as forecast. In 2025, rental income from real estate investments was 0.8 million euros.

"Everaus is a company in the investment phase. This means that a large portion of capital is invested in developments, the sales or rental income of which will be realized after completion. Our focus is to ensure that cash flows generated from project handovers and rental activities are in line with loan repayment deadlines," explained Muttik and added that Everaus enters the second half of the year with stronger market activity, good sales reserves, and a clear development portfolio.

"I assess the first half of 2026 positively overall. There was a setback in spring, but by mid-year, both market activity and buyer interest in new homes have recovered. We believe that the Estonian real estate market is entering a new growth cycle and Everaus's strategic position allows us to benefit well from this recovery," said Muttik.