The number of real estate transactions fell by 15% in 2022

Text Mark Taylor
Photo Jacques Bopp / Unsplash

The total number of apartments and houses bought in Estonia fell by 15 per cent in 2022 compared to the previous year. However, the total value of these real estate transactions only fell by 3 per cent as a result of large increases in property prices.

There were a total of 61,109 real estate transactions in Estonia last year. Around 55 per cent of these involved apartments, with the remaining 45 per cent involving immovable property (houses, land, warehouses, etc).

The total number of transactions for apartments fell by 7 per cent in 2022. However, the total value of these increased by 350 million euros compared to the previous year. On the contrary, the number of transactions of immovable property fell by 23 per cent, resulting in a fall of 560 million euros compared to 2021.

May was the busiest month in 2022 for real estate transactions with 6300. December was the quietest month with just 4500. The highest average prices were seen in Harjumaa at 2600 euros per square metre. Ida Virumaa and Valgamaa saw the lowest at less than 330 euros per square metre.

Source ERR 

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