First quarter dwelling price index up 7.7 percent on year ({{commentsTotal}})

According to Statistics Estonia, in the first quarter of 2017, the Dwelling Price Index decreased by 0.1 percent compared to the fourth quarter of 2016 and increased by 7.7 percent on year.

Compared to the previous quarter, apartment prices increased by 0.7 percent and house prices decreased by 2.1 in the first quarter of 2017. Compared to the fourth quarter of 2016, apartment prices increased by 1.1 percent in Tallinn and 3.2 percent in areas bordering Tallinn combined with Tartu and Pärnu, but decreased by 5.8 percent in the rest of Estonia.

Compared to the first quarter of 2016, apartment prices have increased by 6.9 percent and house prices by 9.9 percent. On year, apartment prices increased by 7.9 percent in Tallinn, 4.9 in areas bordering Tallinn combined with Tartu and Pärnu and by 5.6 percent in the rest of Estonia.

The Dwelling Price Index expresses changes in the transaction square meter prices of dwellings purchased by households. Dwelling Price Indices have been compiled for apartments and houses, including detached, semi-detatched and townhouses.

In the first quarter of 2017, the Owner-Occupied Housing Price Index decreased by 2.2 percent compared to the fourth quarter of 2016 and by 7.4 percent compared to the first quarter of 2016.

The Owner-Occupied Housing Price Index expresses changes in the prices of the acquisition of dwellings new to the household sector and other goods and services that households purchase in their role as owner-occupiers. The index consists of four parts: the acquisition of dwellings, other services related to the acquisition of dwellings, major repairs and maintenance as well as insurance connected with dwellings.

The Owner-Occupied Housing Price Index is published on the base 2010 = 100. The time series begins with the first quarter of 2005; major repairs and maintenance are included from the first quarter of 2007 and insurance connected with dwellings from the first quarter of 2012.

Editor: Aili Vahtla



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