Dwelling Price Index rose in the third quarter
According to Statistics Estonia, in the third quarter of 2020, the Dwelling Price Index increased by 2.3% compared to the second quarter and by 3.9% compared to the third 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 prices of houses increased by 4.3% and the prices of apartments by 1.6% compared to the second quarter. “The prices of apartments increased by 0.8% in Tallinn and by 4.6% in areas bordering Tallinn with Tartu and Pärnu cities, but dropped by 0.8% in the rest of Estonia,” added Säinast.
Compared to the third quarter of 2019, the prices of houses fell by 0.8%, whereas the prices of apartments increased by 5.9%.
In the third quarter, the Owner-Occupied Housing Price Index increased by 0.9% compared to the second quarter and by 5.3% compared to the third quarter of 2019.
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, on the basis of which the ministries can make informed decisions.
See also the prices section on our website.
More detailed data have been published in the statistical database.
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