The rise in the Dwelling Price Index continued in the third quarter

Egne Säinast, analyst at Statistics Estonia, said that the prices of apartments rose by 16.6% and the prices of houses by 19.5% compared to the third quarter of last year. Compared to the second quarter of 2021, the prices of apartments increased by 3.8% and the prices of houses by 2.5%.

“The change in the Dwelling Price Index was the biggest of the last seven years. The last time that the change in this index was greater was in the first quarter of 2014, when it was 17.5%,” explained Säinast.

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 third quarter, the Owner-Occupied Housing Price Index increased by 2.9% compared to the second quarter of 2021 and by 11.9% compared to the third quarter of 2020.

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. 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.
 

For further information:

Kadri Kütt
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181

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