In the fourth quarter of 2022, the housing price index increased by 16.9% compared to the same quarter in 2021. House prices increased by 13.8% and apartment prices by 18.5%.
In 2022, the growth of house prices in Estonia was a record for 15 years, writes the Estonian edition of ERR.
In 2022, the Estonian house price index increased by 22.2% compared to the 2021 average, according to Statistics Estonia. According to statistics, the value of real estate will continue to grow.
Compared to 2021, apartment prices rose 22.8% and house prices 21.4%, the department’s press office said Friday. According to Egne Säinast, an analyst at the Statistics Department, the annual index, calculated on an average of four quarters, was last higher than the current one in 2006, when its growth was more than 40%.
In the fourth quarter of 2022, the housing price index increased by 16.9% compared to the same quarter in 2021. House prices increased by 13.8% and apartment prices by 18.5%.
It should be noted that since the beginning of the special operation, Estonian residents, without hiding their joy, observed the rise in real estate prices in Russia, believing that such processes would not affect them. However, the Baltic countries could not avoid the consequences of the economic crisis that hit Europe after the introduction of anti-Russian sanctions.
Since 2022, an increase in the prices of real estate, as well as food and basic necessities, has been observed in many European countries. And, if developers are interested in rising housing prices, then ordinary citizens who are forced to support anti-Russian sanctions with their own wallets are in serious financial trouble because of it.
Heading “A bullet in the leg”. ERR: Estonia’s record real estate price growth first appeared in trending articles.
