The housing affordability index increased to 159.6 in Tallinn and 171.3 in Riga, but decreased to 128.1 in Vilnius In Tallinn, affordability rose by 5.5 points in the second quarter this year compared with the same period in 2015, due…
The events in the economy and politics over the last half-year have been unexpected. The UK referendum, the state of the US presidential election, the increase in popularity of extremist parties in Europe, and the diverging from democracy in some…
Wage growth remained rapid in the second quarter at around 8%, over the year. We expect average gross wage to rise by around 5% in 2017. In the 2nd quarter of 2016, the average monthly gross wage was 1,163 euros…
The number of inactive decreased by 19,000 people, over the year, in the second quarter of this year. In addition to tight labour market, inactivity declined due to state reforms – an increase in the retirement age and the rearrangement…
Apartment prices in Vilnius increased by 0.8% to 1,376 EUR/sqm in June 2016. During a year apartment prices in Vilnius increased by 6.0% and since the last lowest price level in May 2010, apartment prices are higher by 19.2% (by…
The surge in supply has almost halted price growth Construction sector investments low Real estate prices relative to income stay below 12-year average Price – it is all about demand and supply In the first quarter of 2016, price growth…
Cheaper energy and food behind the decline in prices Price growth is expected to be flat in 2016 In June 2016, consumer prices decreased by 0.4%, year on year, in Estonia. Goods were 0.6% and services 0.1% cheaper compared to…
According to the SEB home purchasing power index, in the first quarter of the year a person living in Tallinn and earning an average income was able to purchase 42.4 square metres of new living space in a dormitory district,…
With 52% of UK voting to leave over 48% wishing to stay in, history is being made as we speak, and the United Kingdom will be the first country to leave the EU since its formation. As we expected, the…
In Tallinn, affordability rose by 10.1 points in the first quarter this year compared with the same period in 2015 due to an 8.5% rise in net wages and almost stable apartment prices. In Riga, the HAI increased by 15.1…
Statistics Estonia did not revise the GDP growth of 1Q2016 with its second estimate: it remained 1.7% yoy and flat qoq (swda) in real terms. Despite the fall in prices, GDP growth reached to 3% in nominal terms (2.5% in…
Estonian real estate companies are expecting real estate prices to stabilize and the number of transactions to increase, and are hoping to grow their revenue and workforce, results of a survey conducted by the Association of Real Estate Companies of…
Wage growth accelerated further in the first quarter. A surge in purchasing power supports consumption but hurts enterprises’ profitability. In the 1st quarter of 2016, the average monthly gross wage was 1,091 euros in Estonia, up by 8.1% over the…
In Q1 2016, employment increased due to a higher number of part-time workers. Unemployment rate was slightly smaller than one year ago. We still expect unemployment rate to grow and employment to decline a bit in 2016. First quarter’s labour…
There are an increasing number of media mentions about negative interest rates as more developed countries across the globe are entering a negative interest rates territory. Five central banks – the European Central Bank (ECB), the Denmark’s National bank, the…