Real Estate

The Land Board transaction and pricing survey reveals that in December, 1,081 real estate purchase and sale transactions were conducted in Tallinn, which is 12.8% more than in November. As compared to December 2013, the number of transactions rose by 18.4% and total cost by 34.3%.

The number of transactions with apartments increased by 11.6% in Tallinn in December as compared to November. Compared to a year earlier, the number of apartment transactions was by 16.3% and the total value 32.9% higher.

1Partner Real Estate Executive Director Martin Vahter said that the end of the year went steadily uphill. "In the big picture, Estonia's private market depends most on the state of Swedish banks and economy, and there should be no big change there this year," said Vahter and added that in real estate, this year is likely to be a boring year in the good sense. "Private real estate price rise stops and the development projects that are completed will be more favourable," said Vahter.

According to him, the global situation affects commercial real estate more. "When looked from London, we are in a war zone, and it discourages investment," said Vahter.

In December, the most expensive apartment in Tallinn was sold for 760,000 and the cheapest for 3,600 euros. The most expensive residential house cost 1.1 million and cheapest 100 euros. 1.29 million was paid for the most expensive land unit and 10,600 euros for the cheapest.