Published: 31 July 2019

Prices of old dwellings in housing companies rose in Greater Helsinki in the second quarter of 2019

According to Statistics Finland's preliminary data, prices of old dwellings in housing companies rose compared to the corresponding quarter of last year by 1.6 per cent in Greater Helsinki, while in the rest of Finland they fell by 1.3 per cent. From the previous quarter, prices went up by two per cent in Greater Helsinki and by 0.8 per cent in the rest of Finland.

Development of prices of old dwellings in housing companies quarterly, index 2015=100

Development of prices of old dwellings in housing companies quarterly, index 2015=100

Among large cities, prices of old dwellings in housing companies rose most in Oulu from the previous quarter. In addition to Oulu, prices rose most in Turku and Helsinki compared with the corresponding quarter in 2018. In Espoo, Lahti and Tampere prices remained almost at last year's level. Prices of old dwellings in housing companies have risen in Oulu by 3.4 per cent compared to 2015. In Helsinki, prices have risen by close on 14 per cent. In the second quarter, the price for a square metre of a one-bedroom dwelling in a block of flats in the most expensive area in Helsinki was EUR 7,302 and in the most expensive area in Oulu EUR 2,396.

Preliminary data on price changes in Oulu in the latest quarter are based on 578 transactions and in Helsinki on 2,219 transactions. The preliminary data comprise, on average, two-thirds of completed transactions in old dwellings in blocks of flats and terraced houses.

Prices of old dwellings in housing companies, 2nd quarter 2019 1)

Area Price, EUR/m² Index 2015=100 Quarterly change, % Yearly change, %
Whole country .. 3) 103.6 1.4 0.1
Greater Helsinki 3,745 110.0 2.0 1.6
Rest of the country (whole country- Greater Helsinki) .. 97.8 0.8 -1.3
Helsinki 4,358 113.8 1.6 2.4
Espoo-Kauniainen 3,436 104.7 3.2 0.0
Vantaa 2,666 102.5 1.5 0.9
Satellite municipalities 2) 2,101 98.3 1.4 -2.2
Tampere 2,501 108.4 1.7 0.4
Turku 2,106 109.8 -2.1 2.5
Lahti 1,707 96.0 2.3 0.3
Kuopio 1,728 88.7 -3.8 -5.6
Jyväskylä 1,816 97.0 0.3 -2.3
Oulu 1,790 103.4 4.4 2.7
1) Preliminary data
2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti
3) .. = An error has been detected in the calculation of average prices per square metre. Affected items have been suppressed and will be published as soon as possible.

Compared with the same period in 2018, prices of new dwellings rose by 1.9 per cent in the whole country. In Greater Helsinki, prices went up by 9.7 per cent, while in the rest of Finland prices went down by 2.1 per cent. Prices of new dwellings in blocks of flats and terraced houses grew by 2.4 per cent in the whole country compared with the previous quarter. Prices went up by 5.1 per cent in Greater Helsinki and by 0.8 per cent in the rest of Finland.

Prices rose in June compared with the corresponding period of last year

According to Statistics Finland's preliminary data, prices of old dwellings in blocks of flats and terraced houses rose in Greater Helsinki by 2.2 per cent, while in the rest of Finland they fell by 1.1 per cent compared to June 2018. In the whole country, prices went up by 0.6 per cent. Prices remained almost unchanged from May to June in the whole country. In Greater Helsinki, prices went up by one per cent, while in the rest of Finland they went down by 0.8 per cent.

Development of prices of old dwellings in housing companies by month, index 2015=100

Development of prices of old dwellings in housing companies by month, index 2015=100

When the monthly statistics on prices of dwellings in housing companies are published, they cover approximately 50 per cent of all transactions made in the latest statistical reference month. The monthly data become revised during the following months so that the final data for the year are published in the release concerning the first quarter of the following year. Further information about data revisions can be found in separate tables. It is not recommended to use the latest month’s number of transactions when describing the activeness of trading. Particularly in summer months, the number of transactions in the latest release of the monthly statistics may remain lower than usual and become revised in the coming months.

The information on old dwellings derive from the statistics on the prices of dwellings in housing companies compiled by Statistics Finland from the Tax Administration’s data. The preliminary data cover roughly two-thirds of completed transactions in old dwellings in blocks of flats and terraced houses. The data on new dwellings in blocks of flats are based on information on the transaction prices of the largest building contractors and estate agents. More detailed price data on dwellings in housing companies are available at http://tilastokeskus.fi/til/ashi/tau_en.html .


Source: Prices of dwellings in housing companies, Statistics Finland

Inquiries: Petri Kettunen 029 551 3558, Elina Vuorio 029 551 3385, asuminen.hinnat@stat.fi

Director in charge: Mari Ylä-Jarkko

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Updated 31.7.2019

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. June 2019. Helsinki: Statistics Finland [referred: 22.8.2019].
Access method: http://www.stat.fi/til/ashi/2019/06/ashi_2019_06_2019-07-31_tie_001_en.html