Compared with the first quarter of this year, apartment prices rose 2.9 percent and house prices 2.4 percent, Statistics Estonia leading analyst Egne Säinast said according to a press release.

"Apartment prices increased by 2.3 percent in Tallinn, by 3.4 percent in areas bordering Tallinn and in the cities of Tartu and Pärnu and by 4.6 percent in the rest of Estonia," Säinast noted.

The monetary volume of transactions in the first half of this year, meanwhile, was lower than in the same period of the previous three years. The last time these volumes were even lower was in the first half of 2020, at the start of the COVID-19 pandemic.

The housing price index (HPI) expresses changes in the square meter prices of transactions made by households for the purchase of dwellings; it is compiled for apartments and houses (including detached and semi-detached houses as well as rowhomes).

In the second quarter of 2024, the owner-occupied housing price index (OOHPI) increased by 2.9 percent compared with the previous quarter and 4.5 percent on year.

The OOHPI expresses 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. This index consists of the acquisition of dwellings, other services related to the acquisition of dwellings, major repairs and maintenance as well as insurance connected with dwellings.

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