According to Sten Renar Subatšjus, Head of Research at Uus Maa Real Estate, the number of new development transactions remained above average in June – similarly to May – yet no significant surge occurred.
“One might have expected that transaction growth in May and June was primarily driven by the upcoming VAT hike, particularly in the new development segment. However, a closer analysis of the data does not support this assumption. The structure of transactions over the past two months was quite similar. In May, the median price fell by 5% compared to April, but in June it rebounded by 7.5% compared to May. This indicates that the market is still in a recovery phase, showing month-to-month fluctuations that don’t always follow a typical pattern,” Subatšjus explained.

In Tallinn, 750 apartment transactions were concluded in June- an increase of 28% compared to June 2023, but a slight decline of 2.5% from May. Total transaction volume surged 38% year-over-year, marking the strongest result of 2025 so far. The median price for apartments in the capital also reached a new 18-month high, climbing to 2940 € per square metre.

In Tartu, 137 apartment transactions were registered in June, consistent with May’s figures and 13% higher than the same month last year. However, the median price per square metre dropped to 2294 € – down over 3% from May and more than 7% lower than June 2023. “The month-to-month fluctuations in Tartu’s apartment market are also characteristic of a market in recovery, where it’s still too early to draw long-term conclusions,” commented Subatšjus.

Pärnu saw 59 apartment transactions in June – a 25% decrease from May, though on par with last year. Notably, the median price in Pärnu rose for the second consecutive month, reaching 2479 € per square metre. This marks a 21.5% increase year-over-year and a 4% rise from May. “The numbers show that faith in the summer capital remains strong during the warmer months,” Subatšjus remarked.

In Narva, the apartment market remained stable in June, with a preliminary count of 54 transactions – on par with May. For the first time in six months, the median price showed positive movement, increasing by 4.5% year-over-year and by 4% month-over-month to 472 € per square metre. “Whether the market in Eastern Estonia is finally beginning to recover will become clearer in the second half of the year,” concluded Subatšjus.