Study: Tallinn Apartment Prices Unlikely to Rise in the Next Six Months

According to experts, no changes are expected in Tallinn apartment prices in the near term, as revealed by a survey conducted among 122 real estate professionals in September, led by 1Partner Real Estate.

65% of survey respondents believe that by February 2026, the prices of apartments in the capital will remain at a similar level as in August, when the average price per square meter was approximately 2990 euros. Compared to a survey conducted a year ago, the share of experts confident in price stability has grown by a fifth, while the number of those forecasting price declines has fallen from 32 percent to 11 percent. "If a year ago there was talk of possible price declines in the wake of the previous few years' lows, now according to experts, there is more potential for growth than decline in prices," comments 1Partner Real Estate analyst Elia Vääri, adding that a quarter of respondents predict price increases of up to ten percent over the next six months.

Two-thirds of the field experts who participated in the survey believe that an oversupply of new apartments may emerge in Tallinn next year. "There is already quite a lot of completed homes in new developments even now, but stronger developers have several more substantial projects in progress. So we find ourselves in a situation where rising input prices would indeed require new price increases, but large supply on the market has so far held this back," explains Vääri. She adds that thanks to stable prices and a wide selection, the near future is also a good time to move forward with home purchases.

Growth potential is seen in the Kesklinn and Kopli districts, while regarding apartments in Tallinn's Old Town, a fifth of respondents consider price declines to be possible.