The dwelling price index grew by 2% in the first quarter
According to Statistics Estonia, in the first quarter of 2024, the dwelling price index increased by 2% compared with the fourth quarter of 2023 and by 7.8% compared with the first quarter of 2023.
Egne Säinast, leading analyst at Statistics Estonia, said that, compared with the fourth quarter of 2023, the prices of apartments rose by 1.2% and the prices of houses by 4%. “The main reason for the modest rise in the prices of apartments is that square metre prices fell for apartments in Tallinn and increased for apartments in the other regions of Estonia,” noted Säinast.
Compared with the first quarter of 2023, the prices of apartments went up by 11.1% and the prices of houses by 1.1% in first quarter this year.
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).
In the first quarter, the owner-occupied housing price index increased by 3.3% compared with the first quarter of 2023 but decreased by 0.5% compared with the fourth quarter of 2023.
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:
Heidi Kukk
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee (press[at]stat[dot]ee)