Slower year-on-year increase in the Dwelling Price Index
According to Statistics Estonia, in 2020, the Dwelling Price Index increased by 6% compared to the average of 2019. In the fourth quarter of 2020, it rose by 4.8% compared to the same quarter of 2019.
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).
According to Egne Säinast, analyst at Statistics Estonia, the annual index, which is calculated as the average of four quarters, rose but not as sharply as before. “Last year, the prices of apartments went up by 6.8% and the prices of houses by 4.1%,” said Säinast.
In the fourth quarter of 2020, the Dwelling Price Index increased by 4.8% compared to the same quarter of 2019. The prices of houses rose by 6.5% and the prices of apartments by 4.1%. The prices of apartments increased by 2% in Tallinn, by 9.1% in areas bordering Tallinn with Tartu and Pärnu cities and by 5.4% in the rest of Estonia.
In 2020, the Owner-Occupied Housing Price Index increased by 6.6% compared to the average of 2019. In the fourth quarter, the index increased by 5.9% 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.
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