An apartment's price is never one “correct” number — it is a range within which a buyer and seller meet. That range, however, is shaped by quite predictable factors, and Estonian Land Board transaction data lets us roughly measure each one.
1. Location sets the order of magnitude
No other factor moves the price as much. The median apartment price is about €3,700/m² in Tallinn's city centre, €2,500/m² in Mustamäe, €2,300/m² in Tartu, and under €300/m² in Ida-Viru county. The same 50 m² apartment can cost €15,000 or €185,000 — purely because of the address. See your area's exact level on our regional price pages.
2. Condition: up to ±30% difference
Two identical apartments in the same building can differ by a third in price if one is freshly renovated and the other needs a full refit. Rule of thumb: the discount roughly equals the real renovation cost (about €500–800/m²) plus a small premium for the hassle. Light cosmetic touch-ups move the price little — buyers pay for move-in readiness.
3. Construction year and building type
New buildings (2015+) and thoroughly renovated ones trade clearly above the area average — in Harju county the median for 2021+ houses is roughly 37% above the overall stock. Soviet-era panel buildings are liquid, well-understood stock but price below average. In pre-war buildings everything depends on renovation: a dignified restored wooden house in the centre can be the area's most expensive property, the same house neglected — its cheapest.
4. Size: bigger apartment, lower price per m²
Price per square metre falls as size grows. Few buyers hunt for 100+ m² apartments — a family will often prefer a newer, smaller flat or a house for the same money. A large old apartment's €/m² is therefore often 10–20% below that of 50–70 m² apartments nearby. The opposite holds for micro-apartments (under 20 m²): investors buy them for rental yield and their €/m² usually exceeds the area average.
5. Layout
The same floor area can hold homes of very different value. Today's buyer prefers an open kitchen-living room and sensibly sized bedrooms. Old-style layouts — many small rooms, walk-through rooms, a dark kitchen — cut demand and price by 5–10%. A balcony, storage room and parking spot add more value than they cost to build.
6. Floor and view
Ground-floor units typically trade 5–10% below the building average (privacy, noise, security); a top floor without a lift is also slightly cheaper. In buildings with a lift, higher floors with a view carry a premium, especially in new developments. Still, these are fine-tuning factors — location and condition always outweigh them.
What does NOT affect the price
- What you once paid for the apartment — the market neither knows nor cares about your purchase price.
- Your neighbour's asking price in a portal — a listing price is not a transaction price; many listings sit for months precisely because they are overpriced.
- Emotional value and investments the buyer cannot see.
How to find out your apartment's value
The fastest way is to let the statistics do the work: our free calculator compares your apartment with same-area, same-age, same-size transactions from the Land Board database and gives you a value range in about a minute — no email required.