House Prices/GDP per Capita in Estonia compared to Europe

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Luxembourg 5.49x
Cyprus 8.91x
Belgium 9.53x
Denmark 9.87x
Norway 14.55x
Sweden 16.96x
Germany 17.37x
Switzerland 17.71x
Lithuania 18.01x
Netherlands 18.74x
Finland 18.85x
Croatia 20.16x
Romania 20.78x
Slovenia 20.93x
Slovak Rep. 21.88x
Estonia 22.24x
Malta 22.40x
Spain 23.24x
Portugal 23.96x
Latvia 24.59x
Hungary 24.65x
Greece 24.87x
Montenegro 25.88x
Macedonia 26.71x
Italy 26.78x
Bulgaria 27.95x
Poland 28.02x
Austria 32.40x
France 41.56x
Czech Rep. 43.58x
Serbia 51.91x
Turkey 52.51x
Moldova 62.77x
UK 65.57x
Ukraine 158.30x
Russia 164.48x

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.