Statistics: Dwelling Price Index rose by 6.6 percent

Apartments at Kopli liinid in Tallinn.
Apartments at Kopli liinid in Tallinn. Source: Siim Lõvi /ERR

In the first quarter of 2021, the Dwelling Price Index increased by 6.6 percent compared both to the fourth and the first quarter of 2020, data from Statistics Estonia shows.

The Dwelling Price Index expresses 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).

Egne Säinast, analyst at Statistics Estonia, said that, in the first quarter, the Dwelling Price Index was again influenced the most by the rising prices of apartments in Tallinn.

"The prices of apartments in Estonia as a whole increased by 7.5 percent compared to the fourth quarter of 2020 and by 8.6 percent compared to the first quarter of 2020," said Säinast.

In the first quarter, the prices of houses rose by 4.5 percent compared to the previous quarter and by 2.2 percent compared to the first quarter of 2020.

In the first quarter, the Owner-Occupied Housing Price Index increased by 5.5 percent compared to the fourth quarter of 2020 and by 6.5 percent compared to the first quarter of 2020.

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 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. 

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Editor: Helen Wright

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