Sten Renar Subatšjus, Head of the Analysis Department, noted that the September figures reflect the overall strong performance of the real estate market this year. “While in the first nine months of last year Tallinn averaged around 650 apartment transactions per month, this year’s average is close to 750,” he explained.

In September, 833 apartment sales were concluded in Tallinn – the strongest result of the year. Compared to last year, the number of transactions increased by 16%, and by 20% compared to August. The median price per square metre rose by 3% year-on-year and by 1% month-on-month. “The market took a short breather in August only to surprise with record-high transaction volumes in September, while prices have remained stable,” Subatšjus commented.

Tartu’s apartment market continues to show stability – for the third consecutive month, over 170 transactions were completed. In September, 176 deals were made, nearly 3% more than a year ago. The median price per square metre was 2254 €, one of the lowest results of the year. Compared to the same period last year, prices fell by almost 6%, and by 3% compared to August. “Tartu’s market shows signs of stabilising in terms of transaction numbers, but average prices continue to decline,” said Subatšjus.

In Pärnu, 72 apartment transactions were concluded in September – 22% more than a year ago but 18% fewer than in August. After eight consecutive months of year-on-year price growth, the median price in Pärnu fell 14% compared to last year, reaching 1896 € per square metre. Month-on-month, prices dropped by over 15%. “While the number of transactions remained solid in September, the declining price level reflects the end of the summer season in Estonia’s resort capital,” Subatšjus noted.

Narva’s apartment market was surprisingly active in September, matching January’s best monthly result of the year with 73 transactions. Compared to last year, this is an increase of nearly 22%, and 33% more than in August. However, the median price per square metre once again fell below 400 € – down to 398 €, which is 26% lower year-on-year and 7% lower month-on-month. “Narva’s market was also active in terms of transactions, but prices remain at a low point,” Subatšjus concluded.