Will prices continue to rise?
The very first homes in the Volta quarter went on sale in 2015, and even then it seemed that the price limit had been reached, but time showed that there was actually plenty of room for development. The price level of living spaces depends, among other things, on whether and at what pace the value of the district as a whole increases.
In addition to the prices, we should also not forget that a home bought in a rapidly developing district is an investment whose value continues to grow. A persistently active market indicates that the buyer is aware of this: the value of a home purchased a few years ago or now has already increased significantly after a year.
The peculiarity of Northern Tallinn, as one of the fastest growing and developing districts, is that everything necessary for life is available as if within an arm’s and a foot’s reach, but without the hustle and bustle, nervousness, lack of space and noise typical of the city centre. This is already a great and permanent value that the buyer can count on. If the location is the most important thing when it comes to real estate, then the district by the sea and adjacent to the heart of the city, which is developing at an insane rate, will remain a long-term area where the investment will pay off and will only grow over time.
The district is far from finished and there are still many awesome and big projects to come. Noblessner is nearing completion of the larger developments, but Volta, Patarei Sea Fort, Krulli, Manufaktuuri and the planned Bekker quarter at the top of the peninsula are still under construction, and their completion will in turn increase the value of the area. Intensive development work will bring a large number of residents to the district in the coming years, as well as businesses and companies, because along with the population growth, the need for various services also increases.
What is the magic of Volta?
What makes the Volta quarter special is its past and its character: a complex of industrial buildings with more than a century of history is more exciting than a new development built from scratch and has a completely different feel. Several historic buildings are undergoing reconstruction, which preserves more important historical elements than the industrial style of the buildings.
