Egne Säinast, leading analyst at Statistics Estonia, said that when compared with the fourth quarter of 2023, the prices of apartments rose by 1.2 percent and house prices were up 4 percent. "The main reason for the modest rise in the prices of apartments is that square meter prices fell for apartments in Tallinn and increased for those in the other regions of Estonia," said Säinast.

Compared with the first quarter of 2023, apartment prices were up 11.1 percent in Q1 2024, while house prices were up 1.1 percent.

The dwelling price index expresses the changes in the price per square meter of transactions made by households for the purchase of dwellings. The index includes both apartments and houses (detached, semi-detached, and terraced houses).

The owner-occupied housing price index fell 0.5 percent between Q4 2023 and Q1 2024. It was also down 3.3 percent on year between Q1 2023 and Q1 2024.  

The owner-occupied housing price index expresses changes in the prices of the acquisition of dwellings new to the household sector, plus other goods and services which households purchase in their role as owner-occupiers, Statistics Estonia says.

The index thus comprises the acquisition of dwellings, other services related to the acquisition of dwellings, major repairs and maintenance, and insurance connected with dwellings.

More information is available here and here.

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