The Pindi Index fell 2.8 percent in September as the average price of a square meter in apartment fell to 10,977 kroons (703 euros), reports Postimees Online. The Pindi Index reflects the weighted average of the real estate transactions carried out in 17 larger Estonian cities. It has fallen by 49.8 percent from the peak in April 2007. While the prices fell, the transaction activity grew: while in August 765 transactions were carried out with apartments, in September the activity level in transactions was 900. The price index compiled by Pindi Kinnisvara takes into account the weighted average price of a square meter of purchase and sale contracts where the properties are apartments in all county centers as well as in the cities of Kohtla-Jarve and Narva.