2019 third quarter house price index up 8.1 percent on year ({{contentCtrl.commentsTotal}})

Apartment building under construction in Tallinn.
Apartment building under construction in Tallinn. Source: Siim Lõvi/ERR

According to information released by Statistics Estonia on Friday, in the third quarter of 2019, the house price index (HPI) increased by 2.4 percent on quarter and 8.1 percent on year.

Compared with the third quarter of 2018, the prices of apartments increased by 7.9 percent and the prices of houses by 8.8 percent. The prices of apartments increased by 8.9 percent in Tallinn, by 7.7 percent in areas bordering Tallinn as well as in the cities of Tartu and Pärnu, and by 0.6 percent in the rest of Estonia.

Compared with the previous quarter, the prices of apartments increased by 1.8 percent and prices of houses by 4.1 percent.

The HPI expresses the changes in price per square meter of transactions made by households for the purchase of homes; it is compiled for apartments and houses (including detached and semi-detached houses as well as rowhomes).

In the third quarter of 2019, the Owner-Occupied Housing Price Index (OOHPI) increased by 1.9 percent compared with the previous quarter and 7.7 percent compared with the third quarter of 2018.

The OOHPI expresses changes in the prices of the acquisition of homes 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 homes, other services related to the acquisition of homes, major repairs and maintenance, and insurance connected with homes.

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Editor: Aili Vahtla

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