Tallinn's New Apartment Sales Rose 22.7% in 2025
In the last quarter of 2025, 368 new apartments were sold in Tallinn, and a total of 1,515 new apartments were sold in 2025, which is 22.7% more than in 2024.
"For the second year in a row, the number of new apartment sales in Tallinn has risen by over 20 percent, so we can talk about stable market growth. This has been supported by the decline in Euribor and its stabilization at 2%, competition in the home loan market, and general wage growth," comments Bonava sales and marketing director Lauri Laanoja.
In December, according to land office data, 706 transactions with apartment ownership residential properties were concluded in Tallinn, so a total of 2,190 apartment transactions were made in the fourth quarter. Compared to the fourth quarter of 2024, there were 12.6% fewer apartment purchase and sale transactions in Tallinn. In total, 9,009 apartment ownership residential property purchase and sale transactions were made in Tallinn in the past year, which is 7.5% more than in 2024.
The sales figures for new homes in Tallinn have remained similar from quarter to quarter, and the typical year-end sales spike did not occur in 2025. According to Citify, 145 new apartments were sold in December in Tallinn, and 1,515 new apartment transactions were made throughout 2025, which is 22.7% more than in 2024.
"We started 2025 at Bonava with a forecast that the Tallinn new apartment market would grow by approximately 20%, reaching 1,500 units. Year-end sales results showed that this is exactly what happened. Spring and summer sales figures even gave hope for higher results, but the trend of increasing transaction numbers did not continue in the fall," describes Laanoja.
According to Citify, Merko, Bonava, and Liven sold the most new apartments in Tallinn in the fourth quarter, and based on the full year results, Merko, Endover, and Hepsor are at the top of the capital's new apartment sales rankings.
The average price per square meter of new apartments sold in Tallinn in the fourth quarter was 4,626 euros, which is the highest among quarters, as many transactions with more exclusive new real estate were made in December. In 2025 as a whole, the average price per square meter of sold new homes was 4,537 euros, compared to 4,434 euros in 2024.
The most new apartments were sold in the last quarter equally in Haabersti and North Tallinn districts, and over the past year as a whole, the most new homes have been sold in Haabersti.
"In 2025, there was an active secondary market for apartments in Tallinn, which has also brought about price increases in this segment, and the price difference between older apartments and more affordable new developments is decreasing. For the current year, I would not predict major price increases in new developments, so in the context of the loss of tax benefits and continued wage growth, the affordability of new homes could improve," says Bonava's sales director.
