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This article observes the gentrification process in a post-socialist country of Estonia. In socialist countries, the land and properties belong to the state and therefore, the real estate market which kick-starts the gentrification process is absent. Not until socialism collapsed, countries became independent, and ownership reforms were established did properties gain value and became objects of sale. In Estonia, the real estate market started to develop after the Republic of Estonia regained independence in 1991, and the land was returned to their legal owners. Due to this historical peculiarity, the gentrification process in Estonia has some differences compared to the process occurring in Western countries.This review article deals with the gentrification process happening in a post-socialist region. In the analysis of the gentrification process development, three waves of gentrification are described,the differences between them are highlighted, and the time of their occurrence is determined.This case study deals with a small district of Tartu called Supilinn, which represents a classic case of gentrification.