2018 house price index up 5.9% on year ({{commentsTotal}})

Housing construction in Tallinn.
Housing construction in Tallinn. Source: Siim Lõvi/ERR

According to information released by Statistics Estonia, the 2018 house price index (HPI) in Estonia increased by 5.9% on year, with the prices of flats increasing by 6.4% and the prices of houses by 4.7%.

According to information released by Statistics Estonia, the 2018 house price index (HPI) in Estonia increased by 5.9% on year, with the prices of flats increasing by 6.4% and the prices of houses by 4.7%.

The prices of flats increased in all three areas under observation: by 6.6% in Tallinn, by 7.3% in the Tallinn metro area, Tartu and Pärnu, and by 3.6% in the rest of Estonia.

In the fourth quarter of 2018, the HPI increased by 2.8% on quarter and by 5.7% on year, with the prices of flats increasing by 5.7% on year and the prices of houses by 5.6% on year.

The HPI expresses the changes in prices per square metre of transactions made by households for the purchase of homes. HPIs are compiled for flats and houses, the latter category of which include detached, semi-detached and terraced houses.

The 2018 owner-occupied housing price index (OOHPI), meanwhile, increased by 6.9% on year.

In the fourth quarter of 2018, the OOHPI increased by 2.1% on quarter and 4.2% on year.

The OOHPI expresses changes in the prices of the acquisition of homes new to the household sector and other goods and services that households purchase in their role as owner-occupiers. The index consists of four parts: the acquisition of homes, other services related to the acquisition thereof, major repairs and maintenance, and insurance connected to the homes.

Editor: Aili Vahtla



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