The annual growth of the Dwelling Price Index accelerated

news release no 33

According to Statistics Estonia, the Dwelling Price Index increased by 5.5% in 2017 compared to the average of 2016. In the annual comparison, the prices of apartments increased by 5.4% and the prices of houses by 5.8%.

The prices of apartments increased in 2017 compared to the average of 2016 in two areas under observation: by 6% in Tallinn and by 6.4% in areas bordering Tallinn with Tartu and Pärnu cities, and stayed at the same level in the rest of Estonia.

Dwelling Price Index, change on previous year, 2006–2017

In the 4th quarter of 2017 compared to the 3rd quarter, the Dwelling Price Index increased by 1.3% and compared to the 4th quarter of 2016 by 4.9%.

Compared to the 3rd quarter, the prices of apartments increased by 1% and the prices of houses by 2%.

Compared to the 4th quarter of 2016, the prices of apartments have increased by 5.5% and the prices of houses by 3.5%.

The Dwelling Price Index expresses the changes in square metre prices of transactions made by households for the purchase of dwellings. Dwelling Price Indices are compiled for apartments and houses (detached, semi-detached and terraced houses).

The Owner-Occupied Housing Price Index increased by 3.8% in 2017 compared to the average of 2016.

In the 4th quarter of 2017, the Owner-Occupied Housing Price Index changed by 0.6% compared to the 3rd quarter and by 2.9% compared to the 4th quarter of 2016.

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 four parts: the acquisition of dwellings, other services related to the acquisition of dwellings, major repairs and maintenance, and insurance connected with dwellings.

The Owner-Occupied Housing Price Index is published on the base 2010 = 100. The time series starts from the 1st quarter of 2005; major repairs and maintenance are included from the 1st quarter of 2007, and insurance connected with dwellings is included from the 1st quarter of 2012.

To ensure comparability, the indices for 2017 have been calculated on the basis of the administrative division as at 01.01.2017.

Annual indices are calculated as averages of four quarters.

For the statistical activity “Dwelling price index and owner-occupied housing price index”, the main representative of public interest is the Ministry of Finance commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.

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 (year and 4th quarter).