Published: 5 May 2020

Prices of old dwellings in housing companies unchanged in March compared with the early part of the year

According to Statistics Finland's monthly-level preliminary data, prices of old dwellings in housing companies have remained on level with January to February both in greater Helsinki and elsewhere in Finland in March 2020. Compared with the corresponding period of the year before, prices rose by 1.3 per cent in Greater Helsinki and fell somewhat elsewhere in Finland.

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

Based on the Tax Administration's Asset Transfer Tax data for March, not much can yet be said about the effects of the corona pandemic on the numbers of transactions of old dwellings, because the data will become revised in the following releases.

Based on transactions made through real estate agents, around two per cent more transactions of old dwellings were made in March compared with the corresponding period last year. In February 2020, around 10 per cent more transactions were made than in the corresponding period of one year ago. Data on transactions made through real estate agents will in future be published in Statfin-table, monthly data.

Prices of old dwellings in housing companies rose in Greater Helsinki in the first quarter and fell slightly in the rest of the country

According to preliminary data, prices of old dwellings in housing companies rose by two per cent in Greater Helsinki in the first quarter of 2020 from the corresponding quarter of the year before. Prices fell slightly in the rest of Finland. Compared with the previous quarter, prices rose by around 1.5 per cent both in Greater Helsinki and in the rest of Finland.

Among large towns, prices of old dwellings in housing companies rose most clearly compared with the corresponding period of last year in Helsinki and Espoo. The average price per square metre of a one-bedroom dwelling in an old block of flats was EUR 4,702 in Helsinki, EUR 3,548 in Espoo and EUR 2,139 in Turku in the first quarter of the year.

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

Prices of new dwellings in housing companies rose in the first quarter

Compared with the corresponding period in 2019, prices of new dwellings rose by 3.9 per cent in Greater Helsinki and by 5.6 per cent elsewhere in Finland. Compared with the previous quarter, prices of new dwellings remained unchanged in Greater Helsinki and rose by 1.4 per cent in the rest of Finland. Compared with the previous year, prices of new dwellings rose in all large towns.

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

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

Old dwellings in housing companies sold well towards the end of the year

According to the Tax Administration's asset transfer tax data, about 63,300 transactions of old dwellings in housing companies were completed last year, which is slightly more than in 2018. Transactions of dwellings were particularly abundant towards the end of the year.

According to final data, prices of old dwellings in blocks of flats and terraced houses rose slightly in the whole of 2019. In Greater Helsinki, prices rose by over two per cent and in the rest of the country they fell by about one per cent.

Data on prices of dwellings in housing companies in different areas and by house type are available at stat.fi/til/ashi/tau_en.html. The tables also contain data on the prices per square metre at the municipal and postal code levels and on the numbers of transactions in 2019.

Prices of old dwellings in housing companies, whole year 2019, final data

Area Price, EUR/m² Index 2015=100 Yearly change, %
Whole country 2,077 103.2 0.7
Greater Helsinki 3,719 110.0 2.4
Rest of the country (whole country- Greater Helsinki) 1,595 97.1 -1.1
Helsinki 4,323 113.6 3.1
Helsinki 1 1) 7,345 119.5 4.3
Helsinki 2 5,592 116.9 3.9
Helsinki 3 3,749 109.4 2.5
Helsinki 4 2,907 106.2 1.0
Tampere 2,503 108.1 1.3
Tampere 1 3,445 115.6 2.8
Tampere 2 2,456 103.2 1.2
Tampere 3 1,994 102.8 -0.3
Turku 2,112 112.8 4.4
Turku 1 3,182 120.3 6.7
Turku 2 2,244 107.8 0.2
Turku 3 1,547 106.0 3.2
Kuopio 1,752 89.5 -4.7
Mikkelii 1,582 91.9 -2.0
Kokkola 1,707 86.9 -4.5
Vaasa : 1,695 90.2 -4.3
1) Regional division used in statistics can been seen in address: http://www.tilastokeskus.fi/til/ashi/ashi_2018-05-02_luo_001_en.html

Starting from March 2020, the data used in the statistics on prices of old dwellings in housing companies are the Tax Administration's data on dwellings (data on ownership of dwellings in housing companies) and starting from 2019, the price data have been calculated from the data on dwellings. To improve comparability, the numbers have been recalculated from the Tax Administration's data on dwellings in housing companies for 2006 to 2018.

The data on new dwellings in housing companies are based on information on the transaction prices reported by the largest building contractors and real estate agents. The numbers of old dwellings in housing companies sold through real estate agents are based on the price monitoring service of the Central Federation of Finnish Real Estate Agencies.


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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Tables

Tables in databases

Appendix tables

Figures
Quality descriptions
Revisions in these statistics

Updated 5.5.2020

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. March 2020. Helsinki: Statistics Finland [referred: 25.5.2020].
Access method: http://www.stat.fi/til/ashi/2020/03/ashi_2020_03_2020-05-05_tie_001_en.html