The Sale of New Apartments in Tallinn Continued to Grow, the Profile of Buyers Has Changed
According to Citify data, 135 new apartments were sold in Tallinn in May, which exceeds the previous month's results, remaining at a similar level to the same period last year.
The average price per square meter of new apartments rose to 4,775 euros in May. Meanwhile, the average size of sold apartments was 61.6 m2, which is the lowest monthly figure in the past two years. The most new homes were sold in Haabersti, and among developers, Hepsor and Merko conducted the most apartment transactions.
"This year, approximately 650 new apartments have been sold in Tallinn, which is almost 20% more than in the same period last year. Although larger apartments with a price per square meter exceeding 6,000 euros have found buyers in luxury projects in downtown and North Tallinn, most transactions involve smaller and more affordable homes, where the price per square meter ranges from 3,900 to 4,300 euros," commented Lauri Laanoja, Head of Sales and Marketing at Bonava.
Bonava, which will celebrate its 10th year of operation in June 2026 and has developed nearly 3,000 homes in Estonia, has noted a significant increase in the age of new development buyers.
"The average age of clients has risen from 34 years to 39 years over the past three years, and people are reaching the point of buying a new home later and later. If just a few years ago the typical buyers were in their early thirties, today the largest buyer group is 39–48-year-olds. Increasingly, it is not a first home being purchased, but a next residence that would better meet the family's needs and lifestyle," said Laanoja.
According to Lauri Laanoja, such a change reflects more broadly both the availability of homes and people's changed expectations in choosing a home.
According to Bonava's data, the share of buyers up to 30 years old has decreased from 35 percent to 28 percent, while the share of 39–48-year-olds has grown from 16 percent to approximately one-third of all clients.
The change in age composition directly affects which types of homes are sought after more.
Laanoja notes that today's buyer expects an energy-efficient and well-thought-out home, where in addition to the apartment itself, a complete living environment, green spaces, mobility options, and common area solutions supporting community spirit are important.
"We operate in the segment of affordable homes, and increasingly we are reaching not first-time home buyers but rather conscious home exchangers. They are looking for better layouts, higher quality living environments, and long-term solutions. For the sake of such qualities, people are willing to deliberate longer on the home purchase decision and sometimes make a larger investment," explained Laanoja.
