The Nordic Real Estate Forum in Tallinn: Real Estate Market Future Is Volatile, But It Brings Additional Opportunities
On Thursday, March 23rd, the Nordic Real Estate Forum 2023 will take place in Tallinn, focusing this year on changes in the real estate sector. Although it is difficult for specialists to predict the future of the field, despite the likely peak of inflation, we may not have yet experienced the worst in the economy. According to their assessment, this brings the region's real estate sector several new opportunities, which will be discussed at the forum.
According to Gert Jostov, chairman of the board of the Estonian Real Estate Association, volatile times await the Estonian real estate market. Following the war in Ukraine, the volume of direct investments in Estonia has decreased, which, however, provides the local real estate sector with additional opportunities. At the same time, high inflation and rising euribor rates have dampened people's interest and ability to obtain loans for real estate purchases. "However, I believe that the Estonian real estate sector is well prepared for difficult times. The key question for accelerating the local real estate market will likely be the price of money," Jostov noted.
According to Ero Viik, head of Swedbank's real estate department, the changes that have occurred in our surrounding environment in recent years are something that no one could have predicted beforehand. The current sentiment in the Nordic bond market has so far had limited impact on the Baltic real estate sector, but whether it will remain so is difficult to predict. The increasingly discussed acronym ESG and green transition in real estate has become a growing area of importance for institutional investors, banks, and tenants alike. Real estate has been and will also be in the future one of the most important sectors in Swedbank's financing portfolio, which is why it will be interesting to hear and important to know what various top specialists in their field think about future developments.
The Nordic Real Estate Forum 2023 hosts two renowned keynote speakers. Nerijus Mačiulis, deputy chief economist of the Swedbank group, will talk about declining inflation, rising interest rates, and uncertain asset values. Adam Tyrcha, partner and research director at Newsec, will give a presentation titled "Futurama: What Happens Next to Real Estate in the Nordic and Baltic Countries".
The forum's central focus is changes in the real estate sector. Six panel discussions will bring together specialists from around the world for in-depth discussion. Tips will be provided, among other things, for real estate investments in 2023, economic trends and risks will be discussed, and the future of logistics real estate will be covered. A separate panel is dedicated to ESG in real estate, and the commercial and development real estate discussion focuses on future workspaces. The day concludes with a retail real estate panel featuring future trends and news.
Nearly 400 people from more than 10 countries will participate in the forum, with knowledge shared by 35 recognized experts in their field.
More information and the full program can be found here: www.nordicreforum.com.
Over the course of almost 20 years, Estonian real estate associations have organized real estate conferences attended by over 6,000 people from more than 20 countries, with 590 speakers from more than 15 countries. Within the framework of the Nordic Real Estate Forum, leading business and opinion leaders in the field gather in Tallinn annually to discuss the future of the real estate sector together.
