In the 3rd quarter, the Dwelling Price Index continued to rise

news release no 161

According to Statistics Estonia, in the 3rd quarter of 2019, the Dwelling Price Index changed by 8.1% compared to the 3rd quarter of 2018 and by 2.4% compared to the 2nd quarter of 2019.

Compared to the 3rd quarter of 2018, the prices of apartments increased by 7.9% and the prices of houses by 8.8%. The prices of apartments increased by 8.9% in Tallinn, by 7.7% in areas bordering Tallinn with Tartu and Pärnu cities, and by 0.6% in the rest of Estonia.

Compared to the previous quarter, the prices of apartments increased by 1.8% and prices of houses by 4.1%.

The dwelling price index expresses the changes in 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 3rd quarter of 2019, the Owner-Occupied Housing Price Index changed by 7.7% compared to the 3rd quarter of 2018 and by 1.9% compared to the 2nd 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 four parts: the acquisition of dwellings, other services related to the acquisition of dwellings, major repairs and maintenance, and insurance connected with dwellings.

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.

For further information:

Egne Säinast
Analyst
Economic and Environmental Statistics Department
Statistics Estonia
Tel. +372 625 9280

More detailed data have been published in the statistical database.