October exceeded the entire previous year's Tallinn new apartment sales result
Sales figures for new apartments in Tallinn have remained at similar levels since summer. According to Citify data, 122 new apartments were sold in Tallinn in October, which is 25 fewer than in September. Over the first 10 months of the year, 1,269 apartments have been sold in the capital, surpassing the total number of new apartment transactions made throughout the entire previous year.
"While 2024 saw a noticeable jump in Tallinn's new apartment monthly sales figures starting from October, this year the market has been very consistent since summer, and the typical autumn sales boost did not occur," commented Lauri Laanoja, Head of Sales and Marketing at Bonava. "2025 is clearly a growth year for the new apartment market. The months so far have shown approximately 40% higher sales figures compared to the same period last year according to the Citify.eu application. Even if there is no significant growth in the final months of the year, Tallinn's new apartment sales for the full year will increase by around 25%," Laanoja predicts.
According to the Land Board, 767 transactions involving residential apartments were concluded in October as apartment ownership, which is 8% fewer than in September. Compared to October of last year, 2024, there were 8.9% fewer apartment purchase and sale transactions in Tallinn. In total, 7,524 apartment ownership residential transactions have been made in Tallinn this year, which is 12.5% more than in the same period last year.
"Euribor has reached its stable level, there is fierce competition between banks in the home loan market, and it can be said that loan costs are half what they were a couple of years ago. Tallinn's secondary market apartment market is very active, and this has also led to price increases, particularly in the segment of apartments 5-10 years old. As the price growth of older apartments continues, the gap with new apartment values narrows, directing increasingly more buyers toward choosing new apartments as well," believes Laanoja.
According to Citify data, Liven sold the most new homes in Tallinn in October, followed by Bonava and Fund and Merko. Based on the results of the first 10 months of this year, Merko leads the new home sales rankings.
Most new apartments in October were purchased in Haabersti, followed by North Tallinn and the City Centre. These districts have also seen the most apartment sales throughout the year, and they also have the largest supply currently. The average price per square meter of new apartments sold in Tallinn in October was 4,434 euros.
The new apartment market in Tallinn's surrounding municipalities also remains active, with 30% of Harju County transactions made outside Tallinn in October. "The number of transactions made in Tallinn's surrounding municipalities has grown 44% compared to the same period last year. Most apartments have been purchased this year in Kiili and Rae parishes, with the latter also having the largest supply of new homes," describes Lauri Laanoja.
