Dwelling Price Index rose by 21% year on year
According to Statistics Estonia, in the first quarter of 2022, the Dwelling Price Index increased by 7.1% compared to the fourth quarter of 2021 and by 21% compared to the first quarter of 2021.
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).
Egne Säinast, analyst at Statistics Estonia, said that, compared to the first quarter of 2021, the prices of apartments went up by 20.2% and the prices of houses by 22.8%. “Compared to the fourth quarter of last year, the prices of apartments rose by 8% and the prices of houses by 5.4% in the first quarter,” added Säinast.
In the first quarter, the Owner-Occupied Housing Price Index increased by 3.7% compared to the fourth quarter of 2021 and by 13.9% compared to the first quarter of 2021.
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.
For further information:
Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9191