Just before the VAT increase that came into effect at the beginning of July, six apartment transactions were made in the Luccaranna residential area developed by Invego—three times more than usual, or the same number as during the previous three months combined.
According to Raul Andresson, Invego’s head of sales, the beginning of July shows that the increased demand was not solely due to the upcoming tax hike. “Rather, the market in general has become more active, which is also confirmed by the abundance of inquiries and interest from buyers during the first ten days of July. In any case, there’s no sign of a summer slowdown so far,” said Andresson.
He confirmed that the anticipated tax change definitely had a positive impact on June’s sales, with the last transaction of the month reaching the notary’s office on the afternoon of June 30. Besides Luccaranna, sales were also active in the Tiskeoja and Uus-Järveküla developments. “Buyers are increasingly valuing smart layouts and comprehensive living environments, where the space between buildings is well-designed and there are diverse leisure and sports opportunities,” Andresson added, emphasizing that well-thought-out developments sell regardless of the market conditions.
The Luccaranna residential district, which will be fully completed in 2026, will consist of 20 apartment buildings and 11 triplex villas, with construction carried out by NOBE. In total, the seaside residential area will feature 254 new homes. According to Invego’s vision and the design by KUU Architects and Kino Landscape Architects, Luccaranna will become an architecturally cohesive and thoroughly planned environment. The apartment buildings will have elevators, the homes will be spacious and full of natural light, with balconies or terraces, and many will have sea views. Parking will be placed at the edges of the district, creating car-free areas between the buildings, with paved walkways alternating with various natural zones. The seashore is located just 50 meters away.
Additionally, each home comes with a 5-year construction guarantee, covering everything included in the apartment at the time of purchase—from ventilation systems and heating units to parquet flooring and faucets.
Luccaranna is located in the coastal part of the Tiskre district in Tallinn, next to the Tabasalu cliff. In the 19th century, this area was a popular summer resort destination for the upper class. Along with the Georg Witte bathing salon in Kadriorg, the Luccaranna area was one of the most popular beach resorts in the country, attracting the elite from both Tallinn and St. Petersburg. Among its historical visitors were the family and friends of poet Pushkin, as well as the renowned historian and writer Karamzin.