The annual growth of the Dwelling Price Index was the highest of recent years

Egne Säinast, analyst at Statistics Estonia, said that the last time that the growth of the annual index, which is calculated as the average of four quarters, was bigger than 15.1% was in 2007, when the growth was 20.8%. “Last year, the prices of apartments went up by 14.8% and the prices of houses by 15.9%,” added 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 fourth quarter of 2021, the Dwelling Price Index increased by 20.4% compared to the same quarter of 2020. The prices of houses rose by 21.7% and the prices of apartments by 19.8%. Compared to the third quarter of 2021, the Dwelling Price Index increased by 6.6%. The prices of houses went up by 11.4% and the prices of apartments by 4.3%.

In 2021, the Owner-Occupied Housing Price Index increased by 11% compared to the average of 2020. In the fourth quarter of 2021, the index increased by 15.8% year on 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.