OREANDA-NEWS. January 23, 2015. Eurostats's House Price Index (HPI) shows that real estate in Estonia was 13.2 percent more expensive in Q3 2014 than in 2013.

Only Ireland has undergone a higher annual increase.

Eurostat reports that year on year, average price increase in the EU was 2.3 percent and in the Euro area 0.5 percent.

The house prices have risen in all three Baltic states: Latvia reported a 11.7 percent rise - on par with the UK - and Lithuania a 10.1 percent rise. Latvia also recorded the second highest quarterly increase with 4.9 percent. Estonia's 4.1 percent quarterly increase was not much lower.

Estonia also showed the highest year on year house price increase in the previous quarters. In the beginning of 2014, real estate was on average 17.5 percent more expensive than in early 2013.