Tallinn apartment market: Q2 2026 and July

In Q2 2026 Estonia recorded 10,365 purchase-sale transactions worth €1.32 billion — 1.8% fewer than a year earlier, but 14% more than in Q1. In Tallinn the average resale apartment price was €2,997/m², up 4.3% year on year and 0.9% on the quarter; a new-build square metre cost €4,635 (+1.1% year on year). July brought 781 apartment transactions in Tallinn, roughly 4% fewer than a year ago, with the resale average climbing to €3,029/m². New-build supply stays thin — first sales made up 9% of residential apartment transactions in Q2, six percentage points less than a year earlier. The price index tells a more cautious story than the average price: the apartment index was flat year on year and fell 2.2% on the quarter, which points to the mix of transactions rather than broad-based appreciation. For the model the lesson is that a single month's average price is not a price signal — the range and the segment-level error are.