Monthly Review: Real Estate Transaction Numbers Rose in February

In February, 651 apartment purchase-sale transactions were completed in Tallinn, and the average price per square meter for apartments reached 3,145 euros, comments 1Partner Real Estate analyst Elia Vääri. The most expensive apartment sold in February went for 1,620,984 euros.

Last month, 651 apartments were sold in Tallinn, which is nearly 4% more compared to January's 627 apartment transactions. "If we count only based on working days, then February's 34 transactions per day exceeds January's 30 transactions by as much as 13%, which shows moderate growth in daily terms, but overall transaction activity remains modest," says 1Partner Real Estate analyst Elia Vääri.

The average price per square meter for apartments reached 3,145 euros in February, which is slightly less than in January, when the average price per square meter rose to a multi-year record level and reached 3,192 euros. "Looking at a longer trend, the average price per square meter for apartments has for a long time fluctuated around 3,000 euros, varying slightly above and below this level from month to month. By now, the average price has remained above 3,000 for half a year, which indicates that the price level is holding at a high level," explains Vääri.

During the finished month, a total of 810 real estate purchase-sale transactions took place in Tallinn (806 in January), while the total value of real estate transactions fell by nearly 28% compared to January, reaching 137 million euros in February. Additionally, 12 developed residential land properties and 2 residential land plots were sold during the month, with the most expensive property changing ownership for 1,525,000 euros.