Following yesterday’s post revealing the minimal increase in apartment prices in Estonia over the past 12 months, another post on Tõnu Toompark’s Adaur blog has stated that, in contrast, construction volume has seen a 28 per cent rise y-o-y to Q1 2012.
This figure is derived from the construction volume index compiled from the Estonian statistics office data, which currently stands at 84 points, writes Tõnu.
This represents a return to the average level for 2009, Tõnu says.
In the meantime there had been a growth in construction volume index over the last five quarters, at figures of around 30-40 per cent.
For the full report (in Estonian) see here, including graphs showing figures for the building index both in Estonia and globally, going back to 2001 (though this is retrospective; the index is calibrated at 100= the year 2005), together with graphs showing y-o-y changes over the same period (where the ‘year’= 100, so the figure for Q1 2012 will be 128).
Andrew Whyte
Tallinn Property by Goodson & Red
