The dwelling price index in Q3 down by 0.5% from Q2
According to Statistics Estonia, in the third quarter of 2024, the dwelling price index fell by 0.5% compared with the second quarter. In comparison with the third quarter of last year, the index rose by 6.4%.
Märt Umbleja, leading analyst at Statistics Estonia, pointed out that the last time the dwelling price index fell compared with the previous quarter was in the third quarter of 2023. “Compared with the second quarter of 2024, the prices of apartments decreased by 1% in areas bordering Tallinn and in Tartu and Pärnu cities, and by 7.7% in the rest of Estonia. In Tallinn, apartment prices continued to rise, increasing by 0.9% from the previous quarter,” Umbleja noted.
Compared with the third quarter of 2023, apartment prices went up by 5.8% and the prices of houses by 8.1%.
The monetary volume of transactions in the third quarter was higher than in both the second quarter of 2024 and the third quarter of 2023.
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 1% compared with the second quarter of 2024 and by 7.4% compared with the third quarter of last year.
The owner-occupied housing price index expresses the changes in the prices of the acquisition of dwellings new to the household sector and of 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.
When using Statistics Estonia’s data and graphs, please indicate the source.
For further information:
Heidi Kukk
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee (press[at]stat[dot]ee)