The Cornerstone Was Laid for a Distinctive Apartment Building in Tiskre

An apartment building in Tallinn's Tiskre district at Möldre tee 8 received its cornerstone and the roof truss was removed from the building. The building developer is YAHouse, the architectural design is from the architecture firm Panda, and the builder is Mapri Ehitus.

At the cornerstone and roof truss ceremony of the new apartment building, Elena Tomson, a real estate agent and board member of the real estate agency Uus Maa al Mare, spoke about how residential developers today are focusing more on quality, which is why their pricing policy is stricter. Buyers, on their part, prefer apartments that can be moved into without additional investments, and the sale of homes requiring renovation has been more difficult recently. Buyer interest has slightly increased recently in second-hand market apartments with reduced prices, whose owners want a quick sale. "In addition, buyers' choices are also influenced by future VAT rate increases, prolonged detailed planning processes, and reduced construction volumes," confirmed Tomson.

Tomson also noted that active purchasers of new developments are young families, financially capable buyers, and people who have successfully sold real estate. "Financing can be more complicated for young families who want to buy their first home. However, it is a positive sign that people actively visit the offered homes, make offers, and conduct negotiations."

According to Marko Talvik, project manager at Mapri Ehitus, the building's frame construction uses complex concrete structural solutions, which are typically characteristic of significantly larger buildings in public use. "Despite the fact that this is a small apartment building, the client allowed the architect to play with the building's form sufficiently, and this is not a so-called faceless box. Many buildings of similar appearance have been built in Tiskre, but since residential construction is a profitable activity for developers, it is understandable why things have turned out this way with the Möldre tee building this time." As a builder, Talvik believes that the apartment building being built on Möldre tee is one of the most beautiful apartment buildings in the area.

Regarding changes in the residential real estate market over the next three years, Tomson admits that prediction is difficult: "The situation depends on the duration of military activities in Ukraine and also on other global factors, such as interest rates and availability of loans. Construction continues to make sense in areas with developed logistics. It is also noticeable that more and more homes are being purchased outside of Tallinn, as the city center and its immediate surroundings have become expensive." Despite what is happening in the real estate market, according to Tomson, today is still a good time to buy an apartment, as the price of a new development apartment will likely increase further next year. "We see that more forward-thinking buyers also take into account the fact that one day the war in Ukraine will end, and rebuilding such a large country will require enormous resources, which will be taken from Europe – including from Estonia – which is why construction prices here will make a negative correction for buyers."

The distinctive apartment building at Möldre tee 8 is located on a spacious 3,025 square meter plot in the interior courtyard of the Tiskre district, away from the main road. The net areas of the apartments are 55 – 110 square meters, to which are added terraces of up to 33 square meters. The building has an elevator, parking is arranged under a carport and on the plot, and parking spaces are equipped with electric vehicle chargers. The building developer has previously been involved in financing and developing large-scale real estate projects such as Das Haus commercial and residential building in Tallinn on Pärnu Avenue, Merirahu Villas, and Novira Plaza commercial building in Tallinn on Tartu Avenue. Apartment owners can purchase a home office of up to 13 square meters located separately from the apartment in the building and a storage space of up to 10 m2 for storing their hobby items or other belongings.