Sales of New Apartments in Tallinn Growing for Second Year

Tallinn's new home sales figures show clear growth compared to last year. According to Citify data, 300 new apartments were sold in the first quarter of 2025, which is 21% more than in the same period of 2024.

In total, 2,120 apartment transactions were completed in Tallinn as apartment ownership in the first quarter, according to land office data, which is 14% less than in the last quarter of last year. Compared to the first three months of 2024, apartment transactions this year were 22% higher.

"Due to seasonality in the real estate market, apartment sales in the first quarter did not continue at the same pace we saw in the final months of last year. However, the first months of the year have shown that client interest is growing for the second year in a row, which means that developers can be expected to be more active in launching new projects," explained Bonava sales and marketing director Lauri Laanoja.

Citify.eu data shows that Merko sold the most new homes in Tallinn in the first quarter, followed by Hepsor. Third place was shared by Endover, TTP, and YIT.

The most new apartments were sold in the first quarter in Haabersti district, followed by the City Center and North Tallinn. The largest selection of new homes is currently available in North Tallinn (739) and the City Center (735), with the smallest selection in Nõmme (53) and Lasnamäe (67).

The average price per square meter for new apartments sold in Tallinn was 4,466 euros in the first quarter, and in the same period last year the average price per square meter was 4,402 euros.

There are currently 920 new apartments for sale on the Tallinn market that are ready to move into immediately. Together with apartments still in the planning or construction phase, Tallinn has over 2,700 new homes on offer. "Therefore, clients have a favorable opportunity to choose either a new and already completed home in the same location or take advantage of the flexibility and early booking benefits offered by projects still in the planning or construction phase," described Laanoja.

The number of rental apartment offerings in Tallinn has remained around 1,500 since the end of last year, which is significantly less than a year ago, when Tallinn had approximately 1,900 rental offerings. The average price of rental apartments in Tallinn has remained fairly stable over the past six months at around 14 eur/m2.