The dwelling price index rose by 6.1% in 2024
According to Statistics Estonia, in 2024, the dwelling price index increased by 6.1% compared with the average of 2023. In the fourth quarter of 2024, the index was up by 3.6% compared with the fourth quarter of 2023 and down by 0.7% compared with the third quarter of 2024.
Märt Umbleja, leading analyst at Statistics Estonia, said that the rise in the dwelling price index in 2024, calculated as the average of four quarters, was 6.1%. “Last year, the prices of apartments went up by 6.1% and the prices of houses by 6.2%,” added Umbleja.
In the fourth quarter of last year, the dwelling price index increased by 3.6% compared with the same quarter of 2023. The prices of apartments rose by 2.1% and the prices of houses by 7.5%.
“Quarter on quarter, the index continued the downtrend for the second quarter in a row. Compared with the third quarter of 2024, the prices of apartments also decreased in the fourth quarter by 1.3%, while the prices of houses increased by 0.9%,” noted Umbleja.
The monetary volume of transactions in the fourth quarter of 2024 was greater than in the third quarter of 2024 as well as in the fourth quarter of 2023.
The dwelling price index expresses the changes in the square metre prices of transactions made by households for the purchase of dwellings, and it is compiled for apartments and houses (detached, semi-detached and terraced houses).
The owner-occupied housing price index increased by 4.2% in 2024 compared with the average of 2023. In the fourth quarter of 2024, the index was up by 1.5% compared with the fourth quarter of 2023 and down by 1.8% compared with the third quarter of last year.
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.
The main representative of public interest for the dwelling price index and owner-occupied housing price index is the Ministry of Finance, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity. The data help to get an overview of the current state of the Estonian economy.
See also the prices section on our website. More detailed data have been published in the statistical database.
When using Statistics Estonia’s data and graphs, please indicate the source.
For further information:
Susann Kivi
Communications Partner
Marketing and Dissemination Department
Statistics Estonia
Tel +372 5696 6484
press [at] stat.ee (press[at]stat[dot]ee)