The Dwelling Price Index in Estonia increased on average by 7 percent on year to 2019, Statistics Estonia says. Increases were highest in Tallinn. The Owner-Occupied Housing Price Index also rose, by 5.4 percent over the same period.
The prices of apartments increased by 6.9 percent and the prices of houses by 7.3 percent, in 2019.
The prices of apartments increased in all areas examined.
In Tallinn the rise stood at 7.4 percent, in areas close to Tallinn, along with the second and third cities, Tartu and Pärnu, the increase was 6.4 percent and apartment prices rose by 4.9 percent in 2019 across the rest of the country.
Fourth quarter of 2019
In the fourth quarter of 2019 (Q4 2019), compared with the third quarter, the Dwelling Price Index increased by 2.9 percent. Apartment prices rose by 3.3 percent; prices of houses by 1.9 percent over the same period.
On year, i.e. from the Q4 2018 to Q4 2019, the Dwelling Price Index increased by 8.2 percent, Statistics Estonia says. Apartment prices increased by 9.2 percent during that time, house prices by 5.8 percent.
The Dwelling Price Index expresses changes in the square metre prices of transactions made by households for the purchase of dwellings, and is compiled for apartments and all types of houses (detached, semi-detached and terraced houses), Statistics Estonia says.
Owner-Occupied Housing Price Index rose
In 2019, the Owner-Occupied Housing Price Index increased by 5.4 percent compared with the average for 2018.
Owner-Occupied Housing Price Index rose by 1.6 percent, Q3 2019-Q4 2019, and by 7.1 percent on year from Q4 2018.
The Owner-Occupied Housing Price Index expresses the changes in the prices of the acquisition of dwellings new to the household sector, and other goods and services which households purchase in their role as owner-occupiers. The index comprises the acquisition of dwellings, other services related to the acquisition of dwellings, major repairs and maintenance and insurance connected with dwellings.
Annual indices are calculated as averages over all four quarters in a year.
Editor: Andrew Whyte