It is a venue for numerous small festivals or concerts like Tallinn Old Town Days (Estonian: Tallinna Vanalinna Päevad), and several bars and restaurants are located in the near vicinity.

The square also hosts a market regularly, with many stalls selling traditional Estonian items and souvenirs (Estonian: Suveniirid).

On the side of Town Hall, there is Raeapteek (Town Hall Pharmacy), which is one of the oldest continuously running pharmacies in Europe, having always been in business in the same house since the early 15th century.

The hall was rebuilt from 1402 to 1404 into its current form, and a Christmas tree display has been held in the square since 1441, making the Tallinn Christmas tree display over 580 years old.

This Tallinn location article is a stub.