Nominal growth of residential property prices accelerated to around 4% y-o-y in Q1 2017 but remained below its historical average growth rate and well below pre-crisis values. In real terms, price increases moderated due to inflation picking up. Residential property prices are demand-driven and increasingly supported by the recovery in personal income which is expected to continue.
[3] On 20 June 1992, 30 years ago to this day, Estonia was the first successor state of the Soviet Union to replace the rouble with its own currency. Not only was the value of the Estonian kroon pegged to the Deut­sche Mark at a fixed rate (8:1) – the day also marked the anniversary of the introduction of the Deut­sche Mark in 1948.