Published: 27 August 2020

Prices of old dwellings in housing companies rose in July compared to June

According to Statistics Finland's preliminary data, prices of old dwellings in housing companies rose by 3.4 per cent in Greater Helsinki compared to July 2019 and fell by 1.3 per cent in the rest of Finland. Compared to June, prices went up in Greater Helsinki by 1.2 per cent and in the rest of the country by 1.6 per cent. Based on transactions made through real estate agents, around three per cent more transactions of old dwellings in housing companies were made in July compared to the corresponding period last year.

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

Compared to the corresponding period of the previous year, the monthly published preliminary data show that prices fell in Eastern and Western Finland and rose in Northern and Southern Finland.

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

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

According to preliminary data, in large towns prices rose in Helsinki, Tampere, Oulu and Espoo compared to the corresponding period last year. Prices in Turku remained almost unchanged compared to the corresponding period of last year and fell slightly in Vantaa.

Development of prices of old dwellings in housing companies by month in large cities in 2015 to 2020M07

Development of prices of old dwellings in housing companies by month in large cities in 2015 to 2020M07

The same number of dwellings in blocks of flats were sold through real estate agents in July as one year previously and six per cent more dwellings in terraced houses than in the corresponding period last year.

In transactions made through real estate agents, the average selling time of a dwelling in a block of flats sold in July was 58 days in Helsinki, 62 days in Tampere and Turku. In Western and Eastern Finland, the average selling time was slightly over 100 days.

Prices per square metre of old dwellings in housing companies, July 2020 1)

Area Price, EUR/m² Index 2015=100 Monthly change, % Yearly change, %
Whole country 2,183 104.9 1.4 1.0
Greater Helsinki 3,882 114.9 1.2 3.4
Rest of the country (whole country - Greater Helsinki) 1,683 96.0 1.6 -1.3
Satellite municipalities 2) 2,081 96.4 1.8 -0.6
Helsinki 4,556 119.7 1.9 5.0
Espoo-Kauniainen 3,536 108.3 0.9 1.5
Vantaa 2,726 105.1 -1.6 -0.9
Tampere 2,586 109.6 2.1 3.0
Turku 2,126 111.9 -5.1 0.3
Oulu 1,829 104.0 1.3 2.4
1) Preliminary data
2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti

Total number of transactions fell by fifth in the second quarter

The total number of dwelling transactions fell by about 20 per cent in the whole country in the second quarter. The fall was biggest in the transaction number of dwellings in new blocks of flats and terraced houses, which went down by almost 32 per cent from the corresponding period last year. Transactions of old single-family houses went down by circa 8 per cent and transactions of old dwellings in blocks of flats and terraced houses are estimated to be 21 per cent lower than one year ago. The number of building permits granted for single-family houses was about 20 per cent lower than one year ago.

In future, Statistics Finland will collect data on the total number and value of dwelling transactions into one table . After the data have been supplemented enough in the next release of the table, data on the value of transactions in the second quarter and data on the numbers of transactions in each large town will be added to the table.

When the monthly statistics on prices of dwellings in housing companies are published, they cover approximately 70 per cent of all transactions made in the latest statistical 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.

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). Data on dwellings should not be used to assess the activity of transactions in the latest period.

The numbers and selling times of old dwellings in housing companies sold through real estate agents are based on the data from the price monitoring service of the Central Federation of Finnish Real Estate Agencies.

Data on transactions of old single-family houses are based on data from the National Land Survey's real estate purchase price register and data on building permits reported by municipal building supervision authorities to the Digital and Population Data Services Agency. Data on new dwellings in housing companies are based on the Central Federation of Finnish Real Estate Agencies and Statistics Finland's own data collection.


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

Publication in pdf-format (360.6 kB)

Tables

Tables in databases

Appendix tables

Quality descriptions
Revisions in these statistics

Updated 27.8.2020

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. July 2020. Helsinki: Statistics Finland [referred: 20.9.2020].
Access method: http://www.stat.fi/til/ashi/2020/07/ashi_2020_07_2020-08-27_tie_001_en.html