The annual change of the Dwelling Price Index was influenced the most by price increase of apartments in Tallinn

news release no 163

According to Statistics Estonia, in the 3rd quarter of 2012 the Dwelling Price Index changed by 2.5 % compared to the 2nd quarter and by 8.4% compared to the 3rd quarter of the previous year.

In the 3rd quarter compared to the previous quarter, the index of apartments increased by 1.7% and the index of houses by 4.5%. Compared to the 3rd quarter of 2011, the square metre prices of apartments have increased by 6.0% and of houses by 13.7%.

Compared to the same quarter of the previous year the apartments square metre prices increased in Tallinn by 8.8%, in areas bordering Tallinn and in Tartu and Pärnu cities by 9.2% but decreased in the rest of Estonia by 13.3%.

Compared to the 2nd quarter the apartments square metre prices increased in Tallinn by 2.7%, in areas bordering Tallinn and in Tartu and Pärnu cities by 3.1% and decreased in the rest of Estonia by 6.4%.

The Dwelling Price Index expresses the changes in the transaction square metre prices of dwellings purchased by households. The Dwelling Price Indices have been compiled for apartments and houses (including detached, semi-detached and terraced houses). To compile these indices, Estonia is geographically divided into three parts: Tallinn; the areas bordering Tallinn and Tartu and Pärnu cities; and the rest of Estonia (without the aforementioned districts).

The Dwelling Price Index is published on the base 2010 = 100. The time series start from the 1st quarter of 2005. The annual index is calculated as the average of four quarters.

Dwelling Price Index, 1st quarter 2005 – 3rd quarter 2012 (2010 = 100)

Diagramm: Dwelling Price Index, 1st quarter 2005 – 3rd quarter 2012

For further information:

Egne Säinast
Leading Statistician
Price Statistics Service
Statistics Estonia
Tel +372 625 9280

More detailed data have been published in the Statistical Database.