Raag

Raag is an expert in commercial real estate, particularly focused on the challenges facing older office buildings in Tallinn. He has pointed out that as the economy contracts, tenants are likely to seek ways to reduce costs, potentially leading to a shift towards smaller and more efficient spaces. Raag notes that nearly 50% of Tallinn's office spaces are housed in buildings older than 15 years, particularly highlighting the difficulties faced by owners of these older properties if they do not invest in upgrading their quality. He emphasizes that while older spaces may offer lower rents, businesses are willing to pay more for modern, energy-efficient environments, which places additional pressure on the owners of less desirable office buildings.