Rapid rise in home prices in Estonia comes to an end in Q3 2022
Text Mark Taylor
Photo Andrei Chertkov
According to data released by Statistics Estonia, in the third quarter of 2022, the Dwelling Price Index (which monitors the prices of apartments and houses sold) increased by 0.8 per cent compared with the second quarter of 2022 and by 24.2 per cent compared with the third quarter of 2021.
“Compared with the third quarter of 2021, the prices of apartments rose by 25.4 per cent and the prices of houses by 22.4 per cent. Compared with the second quarter of this year, the prices of apartments went up by 2.2 per cent and the prices of houses fell by 1.8 per cent in the third quarter,” said Egne Säinast, a leading analyst at Statistics Estonia.
The Dwelling Price Index expresses changes in the square metre price of transactions made for dwellings, and is compiled for apartments and houses (detached, semi-detached and terraced houses).
The high rates of inflation and rising interest rates are seen as the biggest reasons behind the slowdown in price rises. The slowdown in price rises only telling part of the story, with demand, especially for new apartments, down by as much as 80 per cent.
According to data released by Statistics Estonia, in 2023, the gross hourly earnings of female employees was 13.1 per … Read more
14.4.2024 | Estonia
Foreign tourists continue to find their way back to Tallinn
According to data released by Statistics Estonia, nearly 225,000 tourists stayed in accommodation establishments in the country in February … Read more
9.4.2024 | Estonia
Inflation in Estonia reduces to less than 4% in March
According to data released by Statistics Estonia, in March, the Consumer Price Index (which is the key indicator of … Read more
9.4.2024 | Estonia
Food Film Festival starts tomorrow
The annual Food Film Festival begins tomorrow. A total of 7 different documentary films will be shown throughout the … Read more
3.4.2024 | Estonia
The economic downturn is hitting shops hard
According to data released by Statistics Estonia, in February 2024, the turnover of retail trade companies in the country … Read more
29.3.2024 | Estonia
A night of MMA action in Tartu
Tomorrow evening, March 30, Tartu’s A. Le Coq Sports Hall will host MMA RAJU 15 – RELOADED, a thrilling … Read more
28.3.2024 | Estonia
What you can do in Tallinn this Easter
When you travel to Estonia during Easter you should note that Good Friday, March 29, and Easter Sunday, March … Read more
26.3.2024 | Estonia
Major roadworks in central Tallinn have recommenced
After a break for winter, construction on the new tram line to Tallinn’s harbour has begun again. Like last … Read more