Apartment prices in Tallinn rose to all-time high in October ({{contentCtrl.commentsTotal}})

Apartments with a sea view in Tallinn.
Apartments with a sea view in Tallinn. Source: Siim Lõvi/ERR

In October, the average apartment in Tallinn cost €2,040 per square meter, the highest ever recorded, the Land Board's transaction review said.

A total of 1,243 sales and purchase transactions were made for real estate in Tallinn last month. The total value of transactions was €155 million, an 19.2 percent increase on September and 4.9 percent more than October 2018. 

The average price per square meter increased by 4.6 percent to €2,040 in October, which is an all-time high in Estonia.

The most expensive apartment in the capital was sold in October for €945,000 and the cheapest apartment for €2,500. The most expensive dwelling house was sold for €650,000 and the cheapest for €14,000.

Head of real estate company 1Partner Real Estate Martin Vahter said the prices of apartments in Tallinn will not fall in the future.

"Renting is more of a temporary solution for most people now that renting and buying costs the same monthly amount. The apartment is also a pillar of retirement, and I do not advise anyone to rely too much on the state in retirement."

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Editor: Helen Wright

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