Dwelling Price Index continued to rise in the second quarter
According to Statistics Estonia, in the second quarter of 2021, the Dwelling Price Index increased by 16.1% compared to the same quarter of 2020 and by 2.6% compared to the first quarter of this year.
Egne Säinast, analyst at Statistics Estonia, said that compared to the second quarter of 2020, the prices of apartments rose by 14.1% and the prices of houses by 21.6%. “The big year-on-year growth is due to the low reference base at the beginning of the corona crisis,” said Säinast.
In the second quarter compared to the first quarter of this year, the prices of houses increased by 2% and the prices of apartments by 2.9%.
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 second quarter, the Owner-Occupied Housing Price Index increased by 9.8% compared to the same quarter of 2020 and by 1% compared to the first quarter of 2021.
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. 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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