In January, the Median Price per Square Meter of Tallinn Apartments Reached a Record High in Recent Years

According to Estonia's largest real estate office Uus Maa, the beginning of the new year was modest in terms of real estate transaction volumes, but the median price showed the best result in the last two years.

According to Sten Renar Subatšjus, head of the analysis department at Uus Maa Real Estate Office, January was typical in terms of transaction volume – with lower than average activity, but the median price pleasantly surprised. "Will the forecast – 2025 will be a year of growth in transaction volumes and 2026 will be a year of price growth – start to materialize already in the first month of the year?" Subatšjus ponders.

Tallinn apartment market saw 625 purchase and sale transactions in January. The number of transactions fell by about 13% compared to last year and by about 12% compared to December. The average median price per square meter rose by over 5% compared to the same period last year and by over 3% compared to the previous month – falling just short of 3,000 €/m2, specifically 2,988 €/m2. "The median price showed the best result in recent years, being at such a high level last in late 2023," analyzed Subatšjus.

Tartu apartment market continued for the third consecutive month at a stable low level, around the 100 transaction mark – 102 transactions in January. Compared to last year, the number of transactions fell by about 29%, compared to December the level remained at the same scale (five fewer transactions). However, the median price per square meter of apartments showed strong results, rising by about 6% compared to last year and as much as 12% compared to the previous month, standing at 2,451 €/m2 in January. "In terms of transaction volume, the activity of Tartu residents remains low, but the price increase seems to have reached South Estonia as well," commented Subatšjus.

Pärnu apartments saw 52 transactions concluded in January, which is about 24% higher compared to last year and over 15% higher compared to December. The median price rose by over 2.5% compared to last year and by over 10% compared to the previous month, standing at 2,126 €/m2 in January. "January was frosty winter weather, but despite that, the summer capital started the year with positive numbers," noted Subatšjus.

Narva apartment market saw 52 transactions in January, which is about 29% lower compared to the same period last year and 16% lower compared to the previous month. The median price fell to the lowest level in recent years in January, standing at 375 €/m2, which is over 12% lower compared to last year and over 18% lower compared to December. "Despite the strong numbers at the end of 2025, Narva's apartment market started the year from a low position," noted Subatšjus.