Estonia, Real Estate

International Internet Magazine. Baltic States news & analytics Thursday, 09.07.2020, 01:02

Estonian realtor: Avg price of Tallinn apartments to remain around EUR 2,000 per sq m

BC, Tallinn, 08.08.2019.Print version
The manager of 1Partner Kinnisvara real estate company, Martin Vahter, said that the average price per square meter of Tallinn apartments will remain at around 2,000 euros, reported LETA/BNS.

"Slight price growth will continue but definitely not as quickly as so far. Exponential increases and declines occurred last year, but since the start of this year, all indicators have been unusually stable," Vahter said.

The average price per square meter of Tallinn apartments exceeded the 2,000-euro mark for the second consecutive month in July, reaching 2,009 euros and having grown close to 10% on year.

"If generally, transactions are cancelled in July in relation to warm summers and vacations, this year, however, there has been no decline," Vahter said, adding that the real estate market is calm, which is good news both to sellers and buyers.

In July, 1,247 real estate transactions were made in Tallinn. The number of apartments sold increased 1.7 percent month over month to 794. The price of the most expensive apartment sold during the month reached 572,000 euros, whereas the lowest price was 6,000 euros.

The number of built-up residential plots sold in Tallinn in July was 32, seven fewer than in the previous month. The most expensive such plot was sold for one million euros and the cheapest one for 8,400 euros.

Seven residential plots were sold last month, four plots fewer than in June, with the highest price thereof reaching 320,000 euros and the lowest 5,000 euros.

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