Home prices rose 22% in Estonia in 2022

Text Mark Taylor
Photo Krišjānis Kazaks / Unsplash

In 2022, the Dwelling Price Index in Estonia rose by 22.2 per cent compared to the 2021 average. Although this was the biggest rise in the past 15 years, prices remained stable in the last quarter of 2022.

“The last time that the growth of the annual index, which is calculated as the average of four quarters, was bigger than this was in 2006, when the year-on-year growth was over 40 per cent. Last year, the prices of apartments went up by 22.8 per cent and the prices of houses by 21.4 per cent,” said Egne Säinast, a leading analyst at Statistics Estonia.

In the fourth quarter of 2022, the Dwelling Price Index increased by 16.9 per cent compared with the same quarter of 2021. The price of houses rose by 13.8 per cent and the price of apartments by 18.5 per cent. However, compared with the third quarter of 2022, the Dwelling Price Index only increased by 0.2 per cent.

The Dwelling Price Index expresses changes in the square metre prices of dwellings sold, and is compiled for apartments and houses (detached, semi-detached and terraced houses).

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