DEFINITIONS

Apartment ownership  ownership of the physical share of a structure together with a legal share of common ownership to which the physical share belongs. The physical share of an object of apartment ownership is a delimited dwelling or non-residential premises and parts of the structure belonging thereto, which enable separate use and which can be altered, removed or added without violating common ownership or the rights of other apartment owners and without altering the external form of the structure. A part of a garage with a permanent marking may also be part of a physical share of an object of apartment ownership.

Building — construction works, which is permanently attached to the ground, has a roof, envelope structure and interior space.

Dwelling (apartment) — premises or a set of premises, which enables to organise household, meets sanitary-technical requirements and is structurally completely separated from other dwellings.

Dwelling of satisfactory condition — a room which needs maintenance repairs (decorating: painting, wallpaper, replacement of flooring, etc.).

Immovable — a plot of land with its important components. The important components of a plot of land are things permanently attached to it (construction works, growing forest, unharvested crop, etc.) and the real rights related to the plot of land.

Interest — the fee charged by a lender from a borrower for the use of granted loan.

Interest rate a rate charged or paid for the use of money, expressed as a percentage of the remaining loan or as an annual, monthly or daily percentage of the principal.    

Housing loan   a loan for the purchase, renovation or construction of housing. The guarantee of a loan can be a mortgage or any other guarantee usually used for this purpose.   

Non-residential building — a building not intended for permanent residence.

Non-residential premises  a type of property (other than dwellings) such as office-, store-, cultural-educational, industrial or any other room that is intended for permanent use as non–residential premises by the decision of local government and is recorded in the Building Register. Ancillary premises intended for service or for common or individual use of all residents are not considered non-residential premises. 

Purchase-sale contract of real estate — a purchase-sale contract, the object of which is recorded in the Land Register. This includes:

- purchase-sale contracts of unimproved registered immovables, the object of which is only a plot of land;

- purchase-sale contracts of registered immovables with buildings, the object of which is a plot of land with existing buildings or with buildings under construction.

Real estate — immovables owned by a person and the related rights evaluated in monetary terms and duties, incl. right of superficies and right of usufruct.

Rent — payment by the lessee to the owner for the use of residential area or non-residential premises the amount of which is determined on the basis of contract of tenancy concluded between the lessee and owner (lessor).

Residential area — total amount of floor space, compact and functionally united, necessary and suitable for living (floor area of rooms), and ancillary rooms (kitchen, hall, lavatory, washroom, bathroom, wardrobe, storeroom, built-in closet, veranda, pantry, etc.).

Residential building — a building, of which all or at least half of area is intended for permanent residence (one-family dwelling, two-family dwelling, terraced house or any other multifamily house).

Summerhouses, youth hostels, motels, campsites and other buildings which are intended for relaxation and temporary residence are not considered residential buildings.

 

Right of superficies a right to encumber the immovable in such a way that the person for whose benefit a right of superficies is constituted has a transferable and inheritable right for a specified term to own a construction permanently attached to the immovable.  Only one right of superficies may be established on an immovable.

METHODOLOGY

Data about the number and values of the real estate purchase-sale trasnactions are collected by the total survey "Real Estate".  Since 2008 the data of the Estonian Land Board serve as a basis for the production of official statistics on purchase-sale contracts (tables RS015, RS02 RS042). During the previous years Statistics Estonia collected the data from notaries.

Data about the average prices (rent) per square metre of intermediated purchase-sale and rent transactions are collected by the total survey “Real Estate Agencies” from active enterprises whose main activity is intermediation of buying and selling and letting of real estate, i. e. real estate agencies.

Average price (rent) per square metre is calculated as an arithmetical mean by using data of the new purchase-sale and rent contracts intermediated in a certain period.

Purchase-sale and rent contracts are classified by location, kind (intended use) and quality grade of buildings (rooms). The results are published in case there are at least three similar transactions in a group.

Weighted average annual interest rate of housing loans granted to individuals is based on the data of the Bank of Estonia.

CLASSIFICATIONS

Classification of Estonian administrative units and settlements (EHAK)

Classification of Types of Constructions (CC)

MORE DATA

Eesti statistika aastaraamat. Statistical Yearbook of Estonia

CONTACT PERSON

Jaanika Tiido

Enterprise and Agricultural Statistics Department

Tel +372 625 8422

jaanika.tiido@stat.ee

Updated: 12.02.2014