Estonia, Real Estate

Compared to the previous quarter, the prices of apartments decreased by 0.2% and the prices of houses remained on the same level. The prices of apartments decreased by 1.5% in Tallinn, and increased by 1.8% in areas bordering Tallinn as well as in Tartu and Parnu cities and by 3.2% in the rest of Estonia.

Compared to the first quarter of 2015, the prices of apartments increased by 3.1% and the prices of houses decreased by 0.5%. Compared to the first quarter of the previous year, the prices of apartments remained on the same level in Tallinn, but increased 9.9% in areas bordering Tallinn as well as in Tartu and Parnu cities and by 6.8% in the rest of Estonia.

The previous time that the yearly change in the dwelling price index was smaller than 2% was in the first quarter of 2010 when it fell 5.5%.

The dwelling price index expresses the changes in the transaction prices per square meter of dwellings purchased by households. The indices are compiled for apartments and houses, including detached, semi-detached and terraced houses.