In the 3rd quarter, the annual change of the Dwelling Price Index was smallest in recent years
According to Statistics Estonia, in the 3rd quarter of 2018, the Dwelling Price Index changed by 0.2% compared to the 2nd quarter and by 4.2% compared to the 3rd quarter of 2017.
Compared to the 3rd quarter of 2017, the prices of apartments increased by 4.7% and the prices of houses by 2.8%. Compared to the 3rd quarter of the previous year, the prices of apartments increased by 5.1% in Tallinn and by 9% in areas bordering Tallinn with Tartu and Pärnu cities, but decreased by 6.3% in the rest of Estonia.
Compared to the previous quarter, the prices of houses increased by 1.6%, but prices of apartments decreased by 0.3%. The prices of apartments decreased by 0.8% in Tallinn and by 1.9% in the rest of Estonia, but increased by 1.8% in areas bordering Tallinn with Tartu and Pärnu cities.
The Dwelling Price Index expresses the changes in square metre prices of transactions made by households for the purchase of dwellings. The Dwelling Price Indices have been compiled for apartments and houses (detached, semi-detached and terraced houses).
In the 3rd quarter of 2018, the Owner-Occupied Housing Price Index changed by –1.9% compared to the 2nd quarter of 2018 and by 2.7% compared to the 3rd quarter of 2017.
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 four parts: the acquisition of dwellings, other services related to the acquisition of dwellings, major repairs and maintenance, and insurance connected with dwellings.
The Owner-Occupied Housing Price Index is published on the base year 2010 = 100. The time series starts from the 1st quarter of 2005; major repairs and maintenance are included from the 1st quarter of 2007 and insurance connected with dwellings is included from the 1st quarter of 2012.
The prices of the 4th quarter of 2017 used as base prices have been calculated on the basis of the administrative division as at 01.01.2018.
For the statistical activity “Dwelling price index and owner-occupied housing price index”, the main representative of public interest is the Ministry of Finance commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.
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More detailed data have been published in the statistical database.