The new buildings – closest to the sea in Estonia – have reached their full height and will be finished in the autumn

  • 2024-04-25

Yesterday, the Riviera Viimsi complex, which Endover is building along the Haabneeme promenade, had the rafters party – four apartment buildings, located just 100 meters from the sea, reached their full height. The first residents will be able to move into the new apartments in September.

In total, the Riviera Viimsi complex will have four buildings with 65 apartments. All 2–4-room apartments have a balcony or terrace. The spacious five-room two-floor penthouses with roof terraces feature views of Tallinn Bay and the Viimsi Peninsula, as well as luxurious extras such as the option of a hot tub on the roof terrace.

Endover’s CEO Robert Laud noted that for Riviera Viimsi the spatial concept of the entire territory was created with the goal of opening up the beautiful nature of the sea coast to people: “We have cleaned up most of the abandoned industrial land by the sea, during construction we will reconstruct Kaluri Road, and build the Kivila Park with bicycle paths and playgrounds, and a light transport road will lead directly from the complex to the beach.”

In recent years, Viimsi has become a very attractive and sought-after area, as evidenced by the low availability of land and residential premises, as well as rising prices. “There is a clear shortage on the market for new apartments in Viimsi. After the municipality adopts the new general plan, the possibilities for building additional residential areas will be further limited. At the same time, it is one of the most popular residential areas on the border of Tallinn,” explained Laud.

Endover’s CEO added that despite the challenging economic situation, the company is confident in today’s property market: “Our portfolio is in good shape and offers a wide range of properties in sought-after locations. We see that today there are above-average priced property buyers in the market looking for unique identity, quality, and sustainability.”

Endover’s sales director Annika Saar said that the change in bank home loan conditions at the beginning of April is also helping more price-sensitive buyers choose suitable apartments from a wide range of options: “Customers’ overall purchasing power is recovering and they are adjusting to the rise in Euribor. The risk margin on bank home loans has decreased, making loans and homes of the desired size more accessible to people once again.”

However, transaction cycles have lengthened, and for the price-sensitive buyer, both the immediate availability of a property and the ongoing costs associated with it remain critical. Saar noted that Endover’s sales statistics show that transactions for smaller apartments are concluded actively. Larger properties are mainly acquired “on paper”.

The development of Riviera Viimsi will be completed in the autumn of 2024. The developer of the complex is Endover, the builder is Metropol Ehitus, the main designer is What If, the interior architects are Aet Piel (floorplans) and Maarja-Linda Taur (interior design), while the architect of the public areas is Kärt Loopalu from Superellips. Based on natural features, the Haabneme coastal landscape concept was created in collaboration with landscape architects Kino. The completion of the project is financed by Coop Pank.

In addition to the Riviera Viimsi project, Endover is actively continuing the construction of the Volta quarter – one of the largest historical residential and business areas in Tallinn, where 9 historical and new buildings have already been completed, and the next phase has begun with 4 residential buildings and one of the largest business centres in Põhja-Tallinn. The fourth and final tower in the Rocca Towers high-rise district has been completed in Haabersti, and the entire complex will be finished this summer.