Real estate transactions down 2 percent on year in January

3,900 sale and purchase transactions were carried out in the Estonian real estate market in January 2021, 2 percent less than in the same month the year before and 22 percent less than in December, data from the Land Board shows.

As before, the real estate market was most active in Harju County, where about 43 percent of all transactions took place. Next came the counties of Tartu, East-Viru and Pärnu. The share of the rest of the counties was less than 5 percent of the total number of transactions.

Transactions in which pieces of unbuilt land changed hands numbered 1,120 in January, 13 percent less than in January 2020. The number of transactions involving built land meanwhile grew by 27 percent year on year to 675 in January. The number of transactions in which an apartment ownership sold as a dwelling changed hands was 1,833, on a par with the same month last year. 

The number of transactions in which Tallinn apartments changed hands was bigger by 3 percent than in January 2020, when transactions numbered 766. New apartments accounted for 30 percent of the total number of apartments sold as dwellings in Tallinn in January 2021.

In Tartu, the number of transactions involving apartments doubled, mainly as a result of bigger numbers of apartments sold in Tartu city. The number of transactions in the city of Pärnu meanwhile dropped 26 percent year over year. 

The average price of a Tallinn apartment was €2,251 per square meter, 8 percent more than in January 2020 but 1 percent less than in December 2020.

Read more: ERR.EE

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