Estonia, Real Estate
International Internet Magazine. Baltic States news & analytics
Thursday, 18.06.2026, 10:13
There is a lot of unused office space in Tallinn
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Only between 25 and 60% of current office buildings are leased, and office rental prices are down to where they were in 2004.
To make things worse, in the next 18 months Tallinn is expected to have about 100,000 square metres of new office space; however, now already building owners struggle to find tenants for their real estate.
Simmo writes that this is a huge turnaround since only a year ago there was clearly lack of good quality office space in Tallinn and rental prices were are high as 300 kroons per square metre.
Since tenants now have wider choice, building owners are offering their tenants discounts on rental and additional services to secure their contracts.
Since banks are increasingly unwilling to finance new office developments, this could be good news for owners of older office buildings.
Simmo emphasized that it is of primary importance if the gap in rentals in newer and older office buildings continues to fall.
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