TALLINN - A total of 1,012 real estate transactions were conducted in Tallinn last month, averaging 48 transactions per workday, making November the most active month of the year, with the average price per square meter for apartment transactions reaching 3,005 euros.
Compared to November last year, both transaction activity and the total value of apartment transactions have increased. While the fall has been positive for the real estate market, transaction activity is still about a quarter below the levels seen in peak times, according to Martin Vahter, head of 1Partner Kinnisvara real estate agency. He noted that for the second consecutive month, Tallinn surpassed 1,000 real estate transactions.
The average price per square meter for apartments in Tallinn was 3,005 euros in November, compared to 2,975 euros in October. The median price was 2,749 euros per square meter, slightly down from 2,755 euros in October. The most expensive apartment was sold for 1,262,900 euros.
The total value of real estate transactions grew by nearly 22 percent compared to October, reaching 251 million euros in November. Additionally, 25 improved residential land plots were sold, the most expensive of which was priced at 630,000 euros. Five unimproved residential land plots were also sold, with the highest-priced plot going for 549,000 euros.
1Partner is a real estate agency that has been in business for over 20 years. It has offices in Tallinn, Tartu, Riga and Vilnius. 1Partner is the official partner of JLL (Jones Lang LaSalle), the world's largest commercial real estate advisory company, in the Baltics.
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