House prices rise 15.1% in 2021

Text Mark Taylor
Photo Anthony Fomin / Unsplash

According to data from Statistics Estonia, house prices increased by 15.1 per cent compared to 2020. The fastest growth since 2007.

“The last time that the growth of the annual Dwelling Price Index, which is calculated as the average of four quarters, was bigger than 15.1 per cent was in 2007, when the growth was 20.8 per cent. Last year, the price of apartments went up by 14.8 per cent and the price of houses by 15.9 per cent,” explained Egne Säinast, analyst at Statistics Estonia.

These increases grew momentum as the year went on. In the fourth quarter of 2021, the Dwelling Price Index increased by 20.4 per cent compared to the same quarter of 2020. The price of houses rose by 21.7 per cent and the prices of apartments by 19.8 per cent. 

When compared to the third quarter of 2021, the Dwelling Price Index increased by 6.6 per cent. The price of houses went up by 11.4 per cent and the price of apartments by 4.3 per cent, showing the current popularity of houses on the market.

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Apartent Apartment Prices Estonia Dwelling Price Index Egne Säinast Estonia House House Prices Estonia Statistics Estonia