New City Center: North Tallinn Rose to Estonia's Most Expensive District
By the end of the year, the average price per square meter of apartments in North Tallinn exceeded the 4,000 euro level and rose for the first time clearly to become the most expensive district, significantly surpassing the previous leader, the City Center.
According to Jaanus Laugus, the head of Estonia's largest real estate agency Uus Maa, North Tallinn's rise is due to both a larger share of new developments and a substantial transformation of the city's quiet zone. "Expensive developments have been completed in North Tallinn that statistically push prices up – for example, Noblessner, Kalaranna, and also smaller high-priced secondary market apartments," said Laugus.
"In reality, North Tallinn has also substantially transformed into a new city center. The movement and congregation of people shows that the traditionally accepted city center boundaries according to administrative divisions no longer apply. If in the 90s the most prestigious areas were, for example, Roosikrantsi, Kentmanni, Lembitu and Pronksi Street neighborhoods, then by now this has clearly changed. The substantial heart of the city is Kalamaja, no longer the administratively divided City Center that lies between Liivalaia and Pärnu Avenue. This is also the substantial reason why North Tallinn has surpassed the City Center," said Laugus.
"Life and culture are moving powerfully toward the sea. The areas from Rotermann toward the sea all the way to Noblessner are the substantial heart of the city. And where culture moves, business follows. The tourist flow also moves toward Kalamaja, and for example, people hardly end up at Vabaduse Square anymore. Office buildings continue to rise in the Maakri district, but after the end of the working day there is emptiness," added Laugus.
