OREANDA-NEWS. December 09, 2014. The price of apartments in Estonia has reached 2008 pre-crisis levels, with the average cost of a square meter in larger cities over 1,100 euros.

According to the real-estate price index compiled by Pindi Kinnisvara, the price rose by 5.8 percent - from 1,062 to 1,124 euros/m? - in November alone.

The last time the prices were that high was in the summer of 2008, a few months before the financial crisis hit, said Peep Sooman, member of the board of Pindi Kinnisvara. "They are still a fifth below the absolute high in April 2007, since the real-estate market actually started to decline back in 2007."

The market was in its lowest point in July 2009 when the apartments cost 624.2 euros/m?, on average.

The index is based on the real-estate prices in all county centers.