In the third quarter of 2013, Estonia had made 13,815 transactions in real estate totaling €630 million. For the year, the number of transactions increased by 11% and turnover by 16%. Such information is contained in the report of the land department of Estonia, reports ee24.com citing baltic-course.com.
Turnover in the real estate market is a record for the last five years, reaching the level of 2008. The same applies to the number of transactions that has reached the level of the second quarter of 2008.
According to the Land Department, 37,400 hectares of land changed hands in the third quarter of 2013 compared to 33,742 hectares a year earlier. The island of Saaremaa has sold most of the land — 4,458 hectares, and least of all in Ida-Virumaa — 1,088 hectares.
The price index rose in the third quarter by 15.9 % compared to the same period last year, but fell by 0.9 % compared to the previous quarter. The average price of apartments increased by 21.8% compared to the last year, and home prices were up by 8.6%.