Tallinn Real Estate Prices Soar, Setting New Post-Recession High ({{commentsTotal}})

The number of real estate transactions in March grew 28 percent and the average price per square meter crossed the 1,400-euro mark for the first time since 2008.

According to 1Partner Kinnisvara executive Martin Vahter, the month of March was a "big shakeup" for the market - sales of flats, land and houses all leapt higher with oversupply seen at a few moments. 

Vahter said people were buying in fear of prices continuing to rise, although he said that was unlikely to happen.

In March, there were 1,112 transactions with Tallinn real estate, 28 percent more than in February. There were 32 percent more transactions at a 24 percent higher value than March 2013.

Transactions involving flats in Tallinn grew 20.4 percent in March. The price of the average square meter rose over 1,400 euros, reaching 1,469 euros. That is 5.3 percent higher than February.

The most expensive Tallinn flat went for 502,000 euros while the cheapest fetched 2,000 euros.