In the second quarter of 2020, the Dwelling Price Index decreased by 5.8 percent compared to the first quarter but it increased by 4 percent compared to the second quarter of 2019, data from Statistics Estonia shows.
The Dwelling Price Index shows the changes in the square meter prices of transactions made by households for the purchase of dwellings and it is compiled for apartments and houses (detached, semi-detached and terraced houses).
Statistics Estonia analyst Egne Säinast said the prices of apartments in Tallinn had the highest impact on the index in both yearly and quarterly comparison. "The prices of houses decreased by 1 percent and the prices of apartments increased by 6.1 percent compared to the second quarter of 2019. The prices of apartments in Tallinn increased by 5.5 percent."
In areas bordering Tallinn with Tartu and Pärnu cities, the prices of apartments increased by 3.1 percent and in the rest of Estonia by 17.4 percent.
The Owner-Occupied Housing Price Index increased by 6.4 percent compared to the second quarter of 2019. Compared to the first quarter of 2020, the index fell by 2 percent, including a 3.2 percent drop in home insurance prices.
The Owner-Occupied Housing Price Index shows the 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 the acquisition of dwellings, other services related to the acquisition of dwellings, major repairs and maintenance, and insurance connected with dwellings.
Editor: Roberta Vaino