Estonia: Real estate market transactions for November up 23 percent from 2019

According to data from the Land Board, there were nearly 4,800 transactions on the real estate market in November, up 23 percent from November 2019.

In November, the real estate market of Harju County was most lively, with 44 percent of all transactions made in the county. Tartu, Pärnu, Ida-Viru and Lääne-Viru counties followed with the remaining ten counties making up less than 5 percent of all transactions.

All three components of the real estate market contributed to the growth of transactions in November when compared to 2019, with 1,478 deals made for undeveloped land, up 66 percent from 2019, 821 transactions made for developed real estate, up 28 percent. A total 2,288 residential apartment transactions were made, making up a bit under a half of all transactions in November, also up 10 percent from 2019.

The market sector change for undeveloped land comes mainly from the number of deals made in Harju, Lääne-Viru and Tartu counties, with the number of transactions growing in all three counties. Sales of for-profit real estate plots dominated in November, according to the Land Board, with many undeveloped real estate plots sold in Harju and Tartu counties as well.

The number of transactions of Tallinn apartments grew in November when compared to November 2019. A total of 993 deals were made in the capital city in November, up 9 percent from 2019. Additionally, the sales of newly developed apartments made up 37 percent of all transactions in Tallinn.

The per-square meter price of apartments in Tallinn for November was €2,137, up 2 percent from last year and up a percentage point from october. The average price per square meter in Tartu was €1,693, up 13 percent from 2019 and 4 percent from October. The average price per Pärnu apartment square meter was €1,333, up 10 percent from 2019 practically the same from October this year.

Read more: ERR.EE

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