Statistics: Dwelling Price Index sees slower year-on-year increase

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Houses in the Kalamaja district of Tallinn Source: Ken Mürk/ERR

Last year, the Dwelling Price Index increased by 6 percent compared to the average of 2019, data from Statistics Estonia shows. In the fourth quarter of 2020, it rose by 4.8 percent compared to the same quarter of 2019.

The Dwelling Price Index expresses the changes in the square metre prices of transactions made by households for the purchase of dwellings and it is compiled for apartments and houses.

Egne Säinast, analyst at Statistics Estonia, said the annual index, which is calculated as the average of four quarters, rose but not as sharply as before. "Last year, the prices of apartments went up by 6.8 percent and the prices of houses by 4.1 percent," said Säinast.

Dwelling Price Index, change on the previous year, 2010-2020. Source: Statistics Estonia.

In the fourth quarter of 2020, the Dwelling Price Index increased by 4.8 percent compared to the same quarter of 2019. The prices of houses rose by 6.5 percent and the prices of apartments by 4.1 percent. The prices of apartments increased by 2 percent in Tallinn, by 9.1 percent in areas bordering Tallinn with Tartu and Pärnu cities and by 5.4 percent in the rest of Estonia.

In 2020, the Owner-Occupied Housing Price Index increased by 6.6 percent compared to the average of 2019. In the fourth quarter, the index increased by 5.9 percent year on year.

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Editor: Helen Wright

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