Second quarter house price index up 5.8 percent on year

Apartment building in Tallinn. Source: Siim Lõvi/ERR

According to information released by Statistics Estonia on Friday, the second quarter house price index (HPI) increased by 0.9 percent compared to the previous quarter and 5.8 percent on year.

Compared with the same period last year, the prices of houses have increased by 6.2 percent, and the prices of apartments by 5.7 percent. Apartment prices increased by 5.7 percent in Tallinn, 6 percent in areas bordering the capital city as well as in Tartu and Pärnu, and by 4.5 percent in the rest of Estonia.

The HPI expresses changes in the price per square meter of transactions made by households for the purchase of housing; it is compiled for apartments and for houses, including detached, semi-detached, and rowhomes.

In the second quarter of 2019, the owner-occupied housing price index (OOHPI) remained steady on quarter and increased by 3.7 percent on year.

The OOHPI expresses changes in the prices of the acquisition of housing 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 housing, other services related to the acquisition of housing, major repairs and maintenance, as well as insurance connected with dwellings.


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Editor: Aili Vahtla

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