According to real estate market statistics, in 2024, Volta Quarter was the most sought-after new residential development in Tallinn – both in terms of the number of transactions and sales turnover. Yesterday, a cornerstone was laid for another historic building – the Volta Gallery Lofts residential and commercial complex, which will serve as a link between the Volta and Krulli quarters.
Citify data shows that in 2024, 1,235 apartment sales transactions were concluded in Tallinn’s new developments at an average price of 4,438 euros per square meter. Põhja-Tallinn led in terms of sales turnover, with transactions totalling 96.7 million euros. The average price per square meter in Volta Quarter was 5,161 euros, exceeding both the market average and the average for Põhja-Tallinn.
The highest number of transactions for new development apartments took place in Haabersti, with a total of 346 sales, followed by Põhja-Tallinn with 288. The highest price per square meter was recorded in Pirita at 5,599 euros, followed by Põhja-Tallinn, where the average price reached 5,124 euros per square meter. In the city centre, this figure remained at 4,828 euros, indicating a shift in the popularity of residential areas from the city centre towards the coastline.
According to Endover’s Sales Director Annika Saar, the popularity of Volta Quarter lies in its comprehensively planned living environment and a wide selection of apartments and commercial spaces. “The offering includes homes in both reconstructed historic buildings and trendy energy-efficient new constructions. In addition, the area will soon be home to the district’s largest business centre, Volta HUB, featuring the latest MyFitness sports club, a food street, as well as service and retail spaces,” Saar explained. “This spring, the quarter will also gain a padel club, and plans are underway for a kindergarten.”
Yesterday, on February 18, a cornerstone was laid in Volta Quarter for a historic industrial building dating back to 1912, which will be revitalized as a modern residential and commercial complex – Volta Galerii Loftid. To finance the project, Endover, in collaboration with Evernord, successfully issued bonds worth 8.8 million euros.
“The addition of professional investors like Evernord benefits all market participants. Endover alone is planning approximately 100,000 square meters of residential and commercial real estate, and in the near future, we will be opening new financing opportunities,” said Endover’s CFO Kadri Koplimäe.