Apartment prices rise 80% in 5 years
The price of apartments in Estonia has reached 2008 pre-crisis levels, with the average cost of a square meter in larger cities over 1,100 euros.
According to the real-estate price index compiled by Pindi Kinnisvara, the price rose by 5.8 percent - from 1,062 to 1,124 euros/m² - in November alone.
The last time the prices were that high was in the summer of 2008, a few months before the financial crisis hit, said Peep Sooman, member of the board of Pindi Kinnisvara. "They are still a fifth below the absolute high in April 2007, since the real-estate market actually started to decline back in 2007."
The market was in its lowest point in July 2009 when the apartments cost 624.2 euros/m², on average.
The index is based on the real-estate prices in all county centers.