Housing Index in Estonia increased to 215.90 points in the first quarter of 2025 from 209.64 points in the fourth quarter of 2024. This dataset provides - Estonia House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about House Prices Growth

• Estonia house prices grew 7.8% YoY in Mar 2025, following an increase of 0.5% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Sep 2004 to Mar 2025, with an average growth rate of 8.7%.
• House price data reached an all-time high of 57.6% in Mar 2006 and a record low of -40.2% in Jun 2009.

Graph and download economic data for Residential Property Prices for Estonia (QEEN368BIS) from Q1 2006 to Q1 2025 about Estonia, residential, housing, and price.

The Direct Real Estate Activities industry have come up against numerous headwinds in recent years, ranging from the COVID-19 outbreak in 2020 to the high base rate environment in the years since, which has inflated borrowing costs for potential buyers. This is a sharp contrast to the ultra-low interest environment seen over the decade following the 2008 financial crisis. Still, revenue is forecast to edge upwards at a compound annual rate of 0.6% over the five years through 2025 to €622.9 billion, including an anticipated rise of 0.8% in 2025. Despite weak revenue growth, profitability remains strong, with the average industry profit margin standing at an estimated 18.9% in 2025. Central banks across Europe adopted aggressive monetary policy in the two years through 2023 in an effort to curb spiralling inflation. This ratcheted up borrowing costs and hit the real estate sector. In the residential property market, mortgage rates picked up and hit housing transaction levels. However, the level of mortgage rate hikes has varied across Europe, with the UK experiencing the largest rise, meaning the dent to UK real estate demand was more pronounced. Commercial real estate has also struggled due to inflationary pressures, supply chain disruptions and rising rates. Alongside this, the market’s stock of office space isn’t able to satisfy business demand, with companies placing a greater emphasis on high-quality space and environmental impact. Properties in many areas haven't been suitable due to their lack of green credentials. Nevertheless, things are looking up, as interest rates have been falling across Europe over the two years through 2025, reducing borrowing costs and boosting the number of property transactions, which is aiding revenue growth for estate agents. Revenue is slated to grow at a compound annual rate of 4.5% over the five years through 2030 to €777.6 billion. Economic conditions are set to improve in the short term, which will boost consumer and business confidence, ramping up the number of property transactions in both the residential and commercial real estate markets. However, estate agents may look to adjust their offerings to align with the data centre boom to soak up the demand from this market, while also adhering to sustainability commitments.

The financial crisis of 2008 has caused a number of changes in the investment of both companies and individuals. One of the widely invested assets became the real estate market. The decline in real estate prices was noted in 2009 and 2012-2014. The highest decrease in property prices was indicated in Bulgaria, Ireland, Lithuania, Latvia, Slovakia and Estonia. Property prices, despite the crisis, increased however in Belgium and Germany. On average, property prices in the EU declined by 4.4% in 2009, 1.9% in 2012 and 1.2% in 2013.

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, notably rising interest rates, spiralling inflation and muted economic growth. Revenue is projected to sink at a compound annual rate of 0.6% over the five years through 2025, including an estimated jump of 1.2% in 2025 to €207.6 billion, while the average industry profit margin is forecast to reach 35.1%. Amid spiralling inflation, central banks across Europe ratcheted up interest rates, resulting in borrowing costs skyrocketing over the two years through 2023. In residential markets, elevated mortgage rates combined with tightening credit conditions eventually ate into demand, inciting a drop in house prices. Rental markets performed well when house prices were elevated (2021-2023), being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent prices to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. However, this has started to turn around in 2025 as interest rates have been falling across Europe in the two years through 2025, reducing borrowing costs for buyers and boosting property transactions. This has helped revenue to rebound slightly in 2025 as estate agents earn commission from property transactions. Revenue is forecast to swell at a compound annual rate of 3.7% over the five years through 2030 to €249.5 billion. Housing prices are recovering in 2025 as fixed-rate mortgages begin to drop and economic uncertainty subsides, aiding revenue growth in the short term. Over the coming years, PropTech—technology-driven innovations designed to improve and streamline the real estate industry—will force estate agents to adapt, shaking up the traditional real estate sector. A notable application of PropTech is the use of AI and data analytics to predict a home’s future value and speed up the process of retrofitting properties to become more sustainable.

Building contractors and developers depend on various socio-economic factors, including property values, underlying sentiment in the housing market, the degree of optimism among downstream businesses and credit conditions. All of these drivers typically track in line with economic sentiment, with recent economic shocks spurring a difficult period for building contractors and developers. Nonetheless, the enduring need for building services, particularly to tackle housing shortages across the continent, ensures a strong foundation of work. Revenue is forecast to grow at a compound annual rate of 2.3% to reach €1.3 trillion over the five years through 2025. Operational and supply chain disruption caused by the pandemic reversed the fortunes of building contractors and developers in 2020, as on-site activity tumbled and downstream clients either cancelled, froze or scaled back investment plans. Aided by the release of pent-up demand and supportive government policy, building construction output rebounded in 2021. Excess demand for key raw materials led to extended lead times during this period, while input costs recorded a further surge as a result of the effects of rapidly climbing energy prices following Russia’s invasion of Ukraine. Soaring construction costs and the impact of interest rate hikes on both the housing market and investor sentiment led to a renewed slowdown in building construction activity across the continent. However, falling inflation and the start of an interest rate cutting cycle have spurred signs of a recovery in new work volumes, supporting anticipated revenue growth of 2.3% in 2025. Revenue is forecast to increase at a compound annual rate of 6.7% to €1.7 trillion over the five years through 2030. Activity is set to remain sluggish in the medium term, as weak economic growth and uncertainty surrounding the impact of the volatile global tariff environment on inflation and borrowing costs continue to weigh on investor sentiment. Contractors and developers will increasingly rely on public sector support, including measures to boost the supply of new housing, as countries seek to tackle severe housing shortages. Meanwhile, the introduction of more stringent sustainability requirements will drive demand for energy retrofits.

Estonia Foreign Direct Investment Position: Inward: % of Total (FDI) Foreign Direct Investment: Total: Real Estate Activities data was reported at 18.239 % in 2023. This records an increase from the previous number of 18.174 % for 2022. Estonia Foreign Direct Investment Position: Inward: % of Total (FDI) Foreign Direct Investment: Total: Real Estate Activities data is updated yearly, averaging 16.902 % from Dec 2005 (Median) to 2023, with 19 observations. The data reached an all-time high of 18.239 % in 2023 and a record low of 11.727 % in 2009. Estonia Foreign Direct Investment Position: Inward: % of Total (FDI) Foreign Direct Investment: Total: Real Estate Activities data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Estonia – Table EE.OECD.FDI: Foreign Direct Investment: % of Total FDI: by Industry: OECD Member: Annual. Reverse investment: Netting of reverse investment in equity (when a direct investment enterprise acquires less than 10% equity ownership in its parent) and reverse investment in debt (when a direct investment enterprise extends a loan to its parent) is applied in the recording of total inward and outward FDI transactions and positions. Treatment of debt transactions and positions between fellow enterprises: directional basis according to the residency of the ultimate controlling parent (extended directional principle). FDI transactions and positions by partner country and/or by industry are available including and excluding resident Special Purpose Entities (SPEs). The dataset 'FDI statistics by parner country and by industry - Summary' contains series including resident SPEs only. Valuation method used for listed inward and outward equity positions: Market value. Valuation method used for unlisted inward equity positions: Own funds at book value. Valuation method used for unlisted outward equity positions: Net asset value including goodwill and intangibles, Historic or acquisition cost, Book value. Valuation method used for inward and outward debt positions: Nominal value .; FDI statistics are available by geographic allocation, vis-à-vis single partner countries worldwide and geographical and economic zones aggregates. Partner country allocation can be subject to confidentiality restrictions. Geographic allocation of inward and outward FDI transactions and positions is according to the immediate counterparty. Inward FDI positions according to the ultimate counterparty (the ultimate investing country) are also available and publishable. In the dataset 'FDI statistics by parner country and by industry - Summary', inward FDI positions are showed according to the UIC. Intercompany debt between related financial intermediaries, including permanent debt, are excluded from FDI transactions and positions. Direct investment relationships are identified according to the criteria of the Framework for Direct Investment Relationships (FDIR) method. Debt between fellow enterprises are partially covered. Collective investment institutions are partially covered as direct investment enterprises. Non-profit institutions serving households are covered as direct investors. FDI statistics are available by industry sectors according to ISIC4 classification. Industry sector allocation can be subject to confidentiality restrictions. Inward FDI transactions and positions are allocated to the activity of the resident direct investment enterprise. Outward FDI transactions are allocated according to the activity of the non resident direct investment enterprise. Outward FDI positions are allocated according to the activity of the non resident direct investment enterprise. Statistical unit: Enterprise.

Estonia Foreign Direct Investment Position: Outward: % of Total (FDI) Foreign Direct Investment: Total: Real Estate Activities data was reported at 14.291 % in 2023. This records a decrease from the previous number of 15.263 % for 2022. Estonia Foreign Direct Investment Position: Outward: % of Total (FDI) Foreign Direct Investment: Total: Real Estate Activities data is updated yearly, averaging 11.921 % from Dec 2005 (Median) to 2023, with 19 observations. The data reached an all-time high of 16.606 % in 2018 and a record low of 8.190 % in 2012. Estonia Foreign Direct Investment Position: Outward: % of Total (FDI) Foreign Direct Investment: Total: Real Estate Activities data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Estonia – Table EE.OECD.FDI: Foreign Direct Investment: % of Total FDI: by Industry: OECD Member: Annual. Reverse investment: Netting of reverse investment in equity (when a direct investment enterprise acquires less than 10% equity ownership in its parent) and reverse investment in debt (when a direct investment enterprise extends a loan to its parent) is applied in the recording of total inward and outward FDI transactions and positions. Treatment of debt transactions and positions between fellow enterprises: directional basis according to the residency of the ultimate controlling parent (extended directional principle). FDI transactions and positions by partner country and/or by industry are available including and excluding resident Special Purpose Entities (SPEs). The dataset 'FDI statistics by parner country and by industry - Summary' contains series including resident SPEs only. Valuation method used for listed inward and outward equity positions: Market value. Valuation method used for unlisted inward equity positions: Own funds at book value. Valuation method used for unlisted outward equity positions: Net asset value including goodwill and intangibles, Historic or acquisition cost, Book value. Valuation method used for inward and outward debt positions: Nominal value .; FDI statistics are available by geographic allocation, vis-à-vis single partner countries worldwide and geographical and economic zones aggregates. Partner country allocation can be subject to confidentiality restrictions. Geographic allocation of inward and outward FDI transactions and positions is according to the immediate counterparty. Inward FDI positions according to the ultimate counterparty (the ultimate investing country) are also available and publishable. In the dataset 'FDI statistics by parner country and by industry - Summary', inward FDI positions are showed according to the UIC. Intercompany debt between related financial intermediaries, including permanent debt, are excluded from FDI transactions and positions. Direct investment relationships are identified according to the criteria of the Framework for Direct Investment Relationships (FDIR) method. Debt between fellow enterprises are partially covered. Collective investment institutions are partially covered as direct investment enterprises. Non-profit institutions serving households are covered as direct investors. FDI statistics are available by industry sectors according to ISIC4 classification. Industry sector allocation can be subject to confidentiality restrictions. Inward FDI transactions and positions are allocated to the activity of the resident direct investment enterprise. Outward FDI transactions are allocated according to the activity of the non resident direct investment enterprise. Outward FDI positions are allocated according to the activity of the non resident direct investment enterprise. Statistical unit: Enterprise.

Plumbing, heating and air conditioning installation revenue is forecast to grow at a compound annual rate of 2.2% over the five years through 2025 to €273.6 billion. The revenue of plumbing and HVAC contractors is closely tied to construction sector cycles and generally aligns with broader economic and investment trends. Since the pandemic, weak economic conditions, highlighted by rampant inflation and supply chain disruptions, have driven up construction material costs, squeezing investment budgets, particularly in the commercial market, as customers aim to conserve cash. Also, persistent inflationary pressures have further constrained revenue opportunities as central banks have raised base rates, leading to increased borrowing costs and further restricting new investments in construction. In 2024, inflated interest rates are expected to continue to weigh on the housing market, contributing to weaker house prices and hindering demand from residential property developers. Nonetheless, demand from infrastructure construction and utility companies will remain resilient due to the essential nature of plumbing and HVAC systems. This will also keep demand for repair and maintenance services from the commercial market fairly strong, especially where these systems are business-critical. In 2025, although inflation is easing and central banks are reducing interest rates, economic uncertainty persists due to ongoing supply chain issues that continue to drive up construction project costs, limiting revenue potential for industry contractors. Despite these challenges, the push for building decarbonisation is creating significant income opportunities for heat pump installers. Revenue is forecast to increase by 2.5% in 2025. Over the five years through 2030, revenue is forecast to expand at a compound annual rate of 6.4% to €372.6 billion. Easing inflationary pressures will translate into recovering economic sentiment, supporting renewed demand from commercial and residential clients alike. Continue public investment into infrastructure projects and public buildings, like schools and hospitals, will also support demand for plumbing and HVAC installation services. The provision of repair and maintenance services is also slated to remain healthy. Driven by the EU Green Deal’s targets, HVAC companies will continue to innovate their services, providing more energy-efficient solutions.

The study gives updated and policy-relevant information on living conditions in the three countries, with special focus on housing and residential environment, the labour market (unemployment, working conditions), and income. (Household roster) Topics: 1.) Housing conditions/residential environment 2.) Labour Force 3.) Economic self-assessment 4.) Income Demography 1.) Dwelling type; owner of dwelling; becoming owner of dwelling; quality of amenities; problems paying for rent or communal services; owing money for rent or communal services; number of rooms available to the household; dwelling space in square meters; damp/humid rooms and ability to keep home adequately warm; dwellings’ exposure to noise; exhausts from traffic/industry in vicinity of dwelling; respondents’ satisfaction with housing conditions; condition of dwelling; plans for removal to another dwelling; reasons for planning of removal to another dwelling; supply with consumer goods. 2.) Household members’ occupation last week; absence of occupation last week; reason for absence of occupation last week; actively seeking work; reasons for not seeking work; ways of seeking work; number of months seeking work; general availability for work; paid work in last 12 months; household members’ reason for stopping work; status in employment; full-time or part-time job; working hours at main job; additional jobs; working hours at additional jobs; seeking additional work. 3.) Capacity to get things that people sometimes cannot afford; economic situation of household; possibility to raise money for a sudden need; current economic situation compared with situation 5 years ago; assessment of future economic situation. 4.) Main contributor to household budget; wage income; self employment income non-agricultural; self employment income agricultural; non-government transfer income; government transfer income in total and income of pension, unemployment benefit, child benefit, social assistance and housing support; property income; other monetary income; total income; income of last calendar month is typical income; employment status of household (employee or self-employed); received benefits through employer or workplace; received in-kind support from relatives, friends, churches or charity organisations; household member owning/renting a farm; household living on farm; farming type of household; garden or land available for subsistence agriculture; household receives food from relatives or friends; household practices aspects of subsistence economy. Demography: Sex; age; relation of household members; ethnicity; citizenship; respondent applied for citizenship in a Baltic country; household type; type of child care; household expenditure on childcare; highest level of general education of household members; highest vocational education of household members; household members currently attending school/studying; reasons for not attending school.