In the 3rd quarter the increase in the Dwelling Price Index continued

news release no 153

According to Statistics Estonia, in the 3rd quarter of 2013, the Dwelling Price Index changed by 5.3% compared to the 2nd quarter and by 11.1% compared to the 3rd quarter of the previous year.

In the 3rd quarter compared to the previous quarter, the prices of apartments increased by 4.9% and the prices of houses by 6.4%.

Compared to the 3rd quarter of 2012, the prices of apartments have increased by 12.7% and the prices of houses by 6.8%. The prices of apartments increased in all areas under observation: by 14.1% in Tallinn, by 14% in areas bordering Tallinn with Tartu and Pärnu cities and by 1.5% in the rest of Estonia.

Compared to the 2nd quarter, the price index of apartments increased by 6.8% in Tallinn and by 5.8% in areas bordering Tallinn and in Tartu and Pärnu cities, but decreased by 7.9% in the rest of Estonia.

The Dwelling Price Index expresses the changes in the transaction square metre prices of dwellings purchased by households. The Dwelling Price Indices have been compiled for apartments and houses (including detached, semi-detached and terraced houses).

The Dwelling Price Index is published on the base 2010 = 100. The time series start from the 1st quarter of 2005. The annual index is calculated as the average of four quarters.

Dwelling Price Index, 1st quarter 2005 – 3rd quarter 2013 (2010 = 100)

Diagram: Dwelling Price Index, 1st quarter 2005 – 3rd quarter 2013 (2010 = 100)

For further information:

Egne Säinast
Leading Statistician
Economic and Environmental Statistics Department
Statistics Estonia
Tel +372 625 9280

More detailed data have been published in the Statistical Database.