This post reviews the residential rentals market in Tallinn.
It focuses on apartments available for long term rent in all capital’s neighborhoods. The data was collected from 4 sources:
After data pre-processing and cleanings has been done, a total of 849 properties were collected from all websites (note, that some listings could be duplicated in multiple sources).
The data covers apartment rent classifieds from the period from 01/05/2014 till 12/06/2014.
The average rental price in Tallinn was 488€.
This includes all apartments available for rent and in all areas. But the average number is misleading – there were much more affordable rental properties available in Tallinn during June, mostly in Lasnamäe and Mustamäe.
The average price for 1-bedroom apartment in Mustamäe are even lower than in Lasnamäe. Among other observations, the rental prices for 2-bedroom apartment in Haabersti are almost the same as in city center. Another one, is that the rental price for a 3-bedroom apartment in Lasnamäe and Mustamäes is the same as for the 2-bedroom apartment in the same area. The list of useful observations could go on and on, so you are free to draw your own conclusions.
Also note, that average prices do give an overview of where the market is right now, but they don’t show the whole picture.
Real estate is not a homogeneous product. Two different apartments in the same area could have totally different prices because of the smallest details, either a better view or remodeling, or something else. Just check out how strongly the prices can vary: