Tallinn Real Estate Market in Early 2026: Transaction Volume Declined, but Prices Remain Strong
Key Statistics of the Tallinn Real Estate Market – January–February 2026
• 1276 apartment transactions
• −12% change in transaction volume compared to the same period in 2025
• 2988 €/m² median apartment price (+5% year-on-year)
• 24% of transactions were made with newly developed apartments
• 300 000–350 000 € average price of a residential land plot
Apartment Market
The Tallinn apartment market showed moderate activity at the beginning of 2026. In January and February, a total of 1,276 apartment transactions were completed, compared to 1,450 transactions during the same period a year earlier.This represents a 12% decrease in transaction volume year-on-year. 12%The lower level of activity reflects a more cautious approach among buyers and a longer decision-making process. Buyers are comparing options more carefully and taking more time before making a purchase.
The median price of apartments in Tallinn reached approximately €2,988 per square meter, which is about 5% higher than a year earlier, when the median price was around €2,840/m². The average price per square meter remained around €3,100. This indicates that although transaction activity has slowed somewhat, price levels in the market remain strong.
Approximately 24% of apartment transactions in Tallinn involved newly developed properties, while 76% of transactions took place in the secondary market.
Based on transaction volume, the most active districts in Tallinn continue to be:
• Lasnamäe – 21% of all transactions, transaction volume increased by 6%
• Kesklinn (City Centre) – 17% of transactions, transaction volume decreased by 4%
• Mustamäe – 15% of transactions, transaction volume increased by 3%
Average Land Plot Price
The average transaction price for residential land plots in Tallinn ranges between €300,000 and €350,000. The average plot size is approximately 1,500–1,600 m², which translates to an average price of €100–€120 per square meter. Compared to the previous year, land prices have remained relatively stable, changing by roughly 1%.
During the first months of the year, 15 transactions involving developed residential land and 4 transactions involving undeveloped residential plots were recorded in Tallinn.
The land market is typically quieter at the beginning of the year, with activity increasing in spring when both private buyers and developers begin planning new construction projects.
Market Trends
In the coming months, the key market trend is likely to remain more balanced buyer behavior. Buyers are analysing options more carefully and prefer properties that are realistically priced and in good condition.
Daily brokerage activity also reveals several clear trends:
• buyers compare more options and take more time before making a decision
• realistically priced properties often find buyers quickly
• energy efficiency and utility costs play an increasingly important role in purchase decisions
If you are considering selling property in Tallinn or Harju County, feel free to reach out.
We will help assess the market value of your property and advise on the best sales strategy in today’s market conditions.
Nove Kinnisvara Team
Photo by Alexander Kovalev I Unsplash