Bonava Sold the Most New Apartments in the Baltics

According to the new development market data from the real estate data analysis platform Citify, Bonava was the company that sold the most new apartments in the major cities of the Baltic countries in 2025, selling a total of 756 apartments across the three Baltic states last year. This is the largest registered sales volume among real estate developers operating in the region.

According to Edvardas Ogonovskis, Head of Business Development at Citify Pro, the data reflects last year's new development market transactions and enables comparison of how developers compete in all three Baltic countries.

„When collecting data, we strive to objectively show the dynamics of the new development market and the activity volumes of developers in different countries and cities. Our 2025 statistics show that in terms of the total number of apartments sold, Bonava ranked first in the Baltic countries, but the market as a whole remains highly competitive and the sales results of large developers are quite similar," explains Ogonovskis. Bonava was followed in 2025 by YIT and Merko in terms of new apartment sales results, who also operate in all three Baltic markets.

The majority of Bonava's sales transactions, 504 apartments sold, were registered in Latvia, in Lithuania the result was 132 transactions, and in Estonia 120 transactions.

According to Lauri Laanoja, Head of Sales and Marketing at Bonava Estonia, the sales volume achieved in the Baltic countries is the result of consistent operations and a long-term strategy. „Bonava has been a market leader in Riga for years, and in Tallinn we have been in the top three of the sales rankings for 9 years, including being the most selling developer in 2022 and 2024. We started operations in Lithuania in 2019 and have also achieved a significant project portfolio there and increased our sales volume every year," says Laanoja.

2025 Citify data was collected in the following cities: in Lithuania in Vilnius, Kaunas and Klaipeda, in Latvia in Riga, and in Estonia in Tallinn and its surrounding municipalities and Tartu. Citify notes that such statistics enable market participants to better understand general trends and developer activity both in individual cities and in the context of the entire Baltic region.

Bonava has created 3,000 new homes in Estonia and entered the Tallinn rental market in 2023. In the Baltics, Bonava has 31 projects in sales and construction, in addition to rental buildings in Riga and Tallinn, and next year a rental building will also be added in Vilnius.

Bonava operates in Estonia, Latvia, Lithuania, Finland, Sweden and Germany.