Statistics Estonia

Economic and Environmental Statistics Department

51 Tatari Street
10134 Tallinn
Estonia

HPIs give comparable measures for changes in the prices of dwellings. They are calculated according to a harmonised approach and a single set of definitions. The House Price Index (HPI) is a Laspeyres type price index.

All transactions made with already existing or newly created dwellings. Prices include land value. HPIs for Estonia are available from 2005.

Index numbers and weights are made available at the level of detail established by the Regulation.

ESA 2010 sector S.14 (Household sector).

HPIs cover all transactions made with already existing or newly created dwellings. Both transactions new for household sector and not new for household sector are covered. Land not excluded.

Market prices of transactions in dwellings.

The target statistical universe is the set of all transactions of dwellings purchased by households.

Estonia, as a small country, does not have regions in NUTS terms. Data are available for the country as a whole. Data by dwellings categories also available.

Data are available since the first quarter of 2005.

The index reference period is 2015=100.

Index figures with reference year 2015 are available, as well as quarterly and annual growth rates in percentage. Weights are given as parts in 1000.

Reference period is quarter.

Legal acts and other agreements - EU level:

COMMISSION IMPLEMENTING REGULATION (EU) 2023/1470 of 17 July 2023 laying down the methodological and technical specifications in accordance with Regulation (EU) 2016/792 of the European Parliament and of the Council as regards the house price index and the owner-occupied housing price index, and amending Commission Regulation (EU) 2020/1148gulation (EU) 2016/792 of the European Parliament and of the Council as regards harmonised indices of consumer prices and the house price index.

Regulation (EU) 2016/792 of the European Parliament and of the Council of 11 May 2016 on harmonised indices of consumer prices and the house price index, and repealing Council Regulation (EC) No 2494/95.

Legal acts and other agreements - national level: Official Statistics Act.

Not applicable.

Regulation (EC) No 223/2009 of the European Parliament and of the Council, of 11 March 2009, on the transmission of data subject to statistical confidentiality to the Statistical Office of the European Communities

The dissemination of data collected for the purpose of producing official statistics is guided by the requirements provided for in § 34, § 35 and § 38 of the Official Statistics Act.

In Estonia pursuant to §33 (3) of the Official Statistics Act, a producer of official statistics publishes on its web site a release calendar of official statistics for the next calendar year three months before the beginning of the next year at the latest.

Release calendar

Official statistics are available on the website at 8.00 a.m. (7:00 CET) on the date announced in the release calendar.

Quarterly

Regular news release

By Eurostat.

HPIs are published by Eurostat. Dwelling Price Index is published on the database of Statistics Estonia.

Micro-data is not disseminated.

See also Eurostat’s HPI section website.

See 'Housing Price Indices' section in Eurostat's website.

Not applicable.

The framework for the quality assurance of official statistics is based on the European Statistics Code of Practice. All data are checked for completeness and consistency with statistical concepts and definitions. Manual quality controls have been implemented within the HPI production process, in order to detect and correct errors in the data files that are received. Outliers, such as dwellings with particularly small or large floor area or very high or low prices per m2 are excluded from the index.

Statistics Estonia performs all statistical activities according to an international model (Generic Statistical Business Process Model – GSBPM). According to the GSBPM, the final phase of statistical activities is overall evaluation using information gathered in each phase or sub-process (this information includes, among other things, feedback from users, process metadata, system metrics and suggestions from employees). This information is used to prepare the evaluation report which outlines all the quality problems related to the specific statistical activity and serves as input for improvement actions.

The HPI responds to the needs of all users interested in knowing the behaviour of prices in the dwelling price market.

No special user satisfaction survey for HPI.

All transactions are covered.

The HPI is perceived to be accurate and to reflect well the overall behaviour of the housing market.

Not applicable.

For the HPIs non-sampling errors are not quantified.

National data will be transmitted in accordance with the deadline for transmission of HPI results to Eurostat.

HPIs will be published on the pre-announced release dates.

The comparability of HPI across countries is regarded to be rather high. In general definitions and classifications have been harmonised.

HPI data considered to be comparable over time.

The OOHPI partly overlap the scope of the HPI.

All figures are checked for internal consistency.

The HPI data is not subjected to periodic and systematic revisions. HPI series, including back data, would be revisable under the terms set in the Regulation.

Public will be informed about possible non-periodic revisions.

See below.

Index numbers are compiled using only administrative sources.

HPI weights are based on actual dwelling transaction values. The partition of the total HPI weight into new and existing dwellings is done using information available from the same source as used for prices.

Indicators are compiled using administrative sources obtained from the Estonian Land Board.

Data are collected quarterly.

Administrative data are collected through the use of an electronic protocol established between Statistics Estonia and the Estonian Land Board. 

Various procedures ensure that errors are minimised in the data. The following validation checks are made on each record in the source data:

• extreme values are identified and eliminated if thought necessary;

• data cleaning is done to remove cases of obviously erroneous data;

• minimum and maximum values are investigated and removed if believed to be suspect.

See below.

See below.

HPI is a Laspeyres-type price index.

Geometric mean prices are used for elementary aggregates.

Weights are updated annually. All transactions are reflected in the sub-index weights. The price of land included in the weights.

The reference period is t-1. Elementary aggregate weights are adjusted with an appropriate price change between the year t-1 and the fourth quarter of the year t-1.

At aggregated level annual chain linking method is applied where fourth quarter of the year t-1 is linking quarter.

See below.

Dwelling price is recorded at signing the notarial act.

VAT is included in the price of new dwellings.

Taxes other than VAT are not included in the price of dwellings.

Not applicable.

The price of land is included in both prices and weights.

No adjustments other than quality adjustment are applied to the HPI data.

None.