Estonia, Real Estate

The Pindi Index fell by 5.6% as the weighted average price of a square meter of flats in the 17 bigger Estonian cities and towns was 847 EUR. The revised December figure was 898 EUR per square metre.

While in December, 814 transactions were carried out with flats in 17 larger Estonian cities, in January the activity level in transactions was 886. In January last year, the number was 744.

Pindi Kinnisvara analyst Siim Simson said that market in small towns became somewhat more active, which contributed to the fall since increase in the number of transactions in cheaper regions affects the whole index.

The price index compiled by Pindi Kinnisvara takes into account the weighted average price of a square metre of purchase and sale contracts where the objects are flat ownerships in all county centres as well as in the cities of Kohtla-Järve and Narva.