The Dwelling Price Index rose 17.3 percent on year to the third quarter of 2021 (Q3 2021), state agency Statistics Estonia says, indicating further a rise in house prices in Estonia.
The Dwelling Price Index expresses the changes in the price-per-square-meter of transactions made by households in purchasing dwellings, and is compiled for both apartments and houses.
The index rose by 3.4 percent between Q2 and Q3 2021.
Egne Säinast, Statistics Estonia analyst said: "The change in the Dwelling Price Index was the biggest of the last seven years. The last time that the change in this index was greater was in the first quarter of 2014, when it was 17.5 percent."
Säinast added that the prices of apartments rose by 16.6 percent, and the prices of houses by 19.5 percent, compared with Q3 2020.
Between Q2 and Q3 this year, apartment prices rose by 3.8 percent, house prices by 2.5 percent, the agency says.
Meanwhile, the Owner-Occupied Housing Price Index increased by 11.9 percent on year to Q3 2021, and by 2.9 percent between Q2 and Q3 2021.
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.
Editor: Andrew Whyte