House price index in Estonia increased over the year by 8.4%

House price index in Estonia increased over the year by 8.4%

In the third quarter of 2012 the house price index inEstoniachanged by 2.5% compared to the second quarter and by 8.4% - compared to the third quarter of 2011. According to Statistics Estonia, in the third quarter the index of apartments increased by 1.7%, while the buildings - by 4.5% compared to the previous quarter

.Price per square meter increased by 6.0% (flat) and 13.7% (home), compared with the third quarter of 2011. For the year the cost per square meter in apartments fell acrossEstoniaby 13.3%, while inTallinn(+8.8%) andTartu, Pärnu and area bordering the city ofTallinn(+9.2%) was observed growth.

House price index inEstoniastarted in the first quarter of 2005 and is calculated for flats and houses (including individual, semi-detached and townhouses). For the convenience of calculations Estonia is divided into three parts: Tallinn, areas bordering the nation's capital, plus Tartu and Pärnu, and Estonia rest (without the above areas).