House Prices/GDP per Capita in Estonia compared to Europe
Estonia: House price to income ratio
The house price to income ratio is the ratio of the cost of a typical upscale housing unit of 100 square metres, compared to the countrys GDP per capita. Normally this ratio will be much higher in low income countries than in high income countries.
The formula is: (Price per square metre / GDP per capita)*100. The house price to income ratios published by the Global Property Guide are based on the Global Property Guides own proprietary in-house research, but we use the IMFs GDP per capita figures.
Estonia has high-quality housing statistics, generated by the Statistical Office of Estonia (SOE). Data on house prices, house sales and construction activities, as well as general economics statistics are all available from the SOE. The Bank of Estonia is also a good source of economics statistics and reviews. Ober-Haus Real Estate Company has monthly data on average apartment prices, market reports, press clippings and other information.