35
HOUSING AND REAL ESTATE HOUSING Housing stock in Tallinn (as of 1 January 2012) Number of dwellings
195,145
Total area of living space, incl.
11,526,381 m²
State- and city-owned %
2.12%
Private ownership %
97.07%
Average area per resident
27 m²
Source: Statistics Estonia 2011 Population and Housing Census
New construction in Tallinn Volume of construction
2009
2010
2011
2012
2013
Residential buildings Number of dwellings
1,591
1,266
1,021
908
713
Area of dwellings (m²)
124,082
103,284
86,561
84,650
69,460
477,744
180,236
39,321
75,251
101,613
601,826
283,520
125,882
159,901
171,073
Non-residential buildings Total useful space (m²) Total for residential and non-resident buildings (m²) Source: Statistics Estonia
REAL ESTATE
• The market for commercial premises in Tallinn has converged into shopping
centres; stores selling convenience goods (super- and hypermarkets) are also dispersed around the city. In the centre of the city and in the Old Town, groundfloor retail premises in areas with high pedestrian traffic are typical.
36 Development projects Smart Business City development at Ülemiste City
24,000 m²
Noblessneri Quarter
24.54 ha
Tehnopol Digitalu
6,000 m²
Office building in Tehnopol 2 for technology companies
7340 m²
Betooni Industrial Park
3.6 ha
Suur-Sõjamäe Industrial Park
6.4 ha
Reconstruction of the No. 4 tram line
8 km
Construction work on Kalaranna St.
Average net rental prices per month for commercial premises in Tallinn (2014 1 Q) Intensive pedestrian flow
€/m²
Less intensive pedestrian flow
City centre
13−20
City centre
€/m²
7−12
Outskirts
10−15
Outskirts
4−10
Source: Uus Maa Kinnisvarabüroo market survey
Average net rental prices per month for manufacturing and warehousing premises in the outskirts of Tallinn and in the Tallinn techno parks (2014 1 Q) Quality class
€/m²
A and A+
3.5–5
B
2.5–3.5
C
2–2.5
Source: Uus Maa Kinnisvarabüroo market survey
• By early 2014, the total volume of office space in Tallinn was approximately 600,000 m². The majority of this was located in modern buildings which can be classed A and A+.
Average net rental prices per month for office space in Tallinn (2014 1 Q) A and A+
€/m²
B
City centre
14–25
City centre
9–14
City centre
6–9
Outskirts
4–8
Outskirts
3–4
Outskirts
8–13
Source: Uus Maa Kinnisvarabüroo market survey
€/m²
C
€/m²