city district shows one of the highest activities in terms of the number of all
apartment transactions in Tallinn with ca 17% of the total number of transactions
(more than 1,500 deals per annum on average since 2015). Due to active
residential development Põhja-Tallinn and especially Kalamaja has one the highest average prices per
square metre in Tallinn.
For example Nobelessner development
Põhja-Tallinn has the least stock of retail space of all districts in Tallinn, whilst occupies third place by population among all Tallinn’s districts. There is a clear potential for demand growth in the actively developing areas like Kalaranna, especially for close-by and neighbourhood shopping opportunities. Grocery retailers continue to seek possibilities for further expansion in Tallinn and its suburbs.
As the majority of hotel room stock in Tallinn is located in the city centre, the area is considered to be the most attractive place for possible hotel developments in the short- and near-term perspective. Additionally, areas in the close surroundings of the Central City area, e.g. Kalamaja/Telliskivi area in Põhja-Tallinn city district are also becoming more attractive for hotel operators.