Published: 30 December 2021

Prices of old dwellings in housing companies rose in large towns in November

According to Statistics Finland's preliminary data, prices of old dwellings in housing companies rose in all the largest towns in November compared with the previous year. However, the rise in prices has calmed down in many cities relative to the early part of the year. Prices went up by 3.6 per cent in the whole country. Compared with October, prices remained nearly unchanged in the whole country. In November, four per cent more sales of old dwellings in blocks of flats and terraced houses were made through real estate agencies than one year ago.

Development of prices of old dwellings in housing companies by month in large cities in 2015 to 2021M11, index 2015=100

Development of prices of old dwellings in housing companies by month in large cities in 2015 to 2021M11, index 2015=100

Among large towns, prices of old dwellings in housing companies rose most in Turku and Helsinki compared with the corresponding period of last year. Since 2015, prices have gone up by 23 per cent in Turku and by 29 per cent in Helsinki.

In Greater Helsinki, prices of dwellings in blocks of flats rose by 6.5 per cent and in terraced houses by 3.0 per cent from one year ago.

Examined by major region, prices of old dwellings rose on the annual level most in Southern Finland in November. Prices fell in Eastern and Western Finland. Compared to 2015, prices have risen by almost 16 per cent in Southern Finland. Prices have fallen by nearly one per cent in Northern Finland and by good two per cent in Western Finland. Prices have fallen by nearly 19 per cent in Eastern Finland.

Development of prices of old dwellings in housing companies by month in major regions 2015–2021M11, index 2015=100

Development of prices of old dwellings in housing companies by month in major regions 2015–2021M11, index 2015=100

Prices per square metre of old dwellings in housing companies, November 2021 1)

Area Price, EUR/m² Index 2015=100 Monthly change, % Yearly change, %
Whole country 2,269 109.1 0.2 3.6
Greater Helsinki 4,212 122.5 0.6 5.4
Rest of the country (whole country - Greater Helsinki) 1,716 97.5 -0.3 1.8
Satellite municipalities 2) 2,257 102.1 6.5 4.5
Helsinki 5,046 129.1 0.7 6.8
Espoo-Kauniainen 3,717 113.0 -0.6 2.3
Vantaa 2,914 110.5 2.5 4.3
Tampere 2,913 118.7 -0.1 5.8
Turku 2,336 123.1 -0.5 9.2
Oulu 1,877 106.4 1.6 6.0
1) Preliminary data
2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti

Total value of dwelling transactions grew by 7 per cent in the third quarter from last year

Preliminary data on the total number and value of dwelling sales have been supplemented. In the third quarter, the number of dwelling sales in the whole country rose by 2.6 per cent from the corresponding period last year. The combined number of dwelling sales in large towns (Helsinki, Espoo, Tampere, Vantaa, Oulu, Turku) grew by around one per cent in the third quarter. Outside large towns, the numbers of sales grew by close on four per cent.

In January to September, the value of dwelling sales amounted to EUR 15.4 billion, which is 27 per cent more than one year ago. In large towns, the value of sales increased by 26 per cent and in the rest of the country by 29 per cent from last year. In January to September, the value of sales compared to the value of the whole country was 46 per cent in Greater Helsinki and 61 per cent in large towns.

Statistics Finland collects data on the total number and value of dwelling sales into StatFin table 12r3 . The data in the table are updated retrospectively in connection with monthly statistics as concerns old dwellings in housing companies and building permits granted.

The statistics on the prices of old dwellings in housing companies are based on the Tax Administration's data on dwellings (data on ownership of dwellings in housing companies). The numbers published from data on dwellings should not be used to assess the activeness of transactions in the latest periods.

When the monthly statistics on prices of old dwellings in housing companies are published for the first time, they cover approximately 60 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.

The numbers 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. As a rule, these data do not become revised retrospectively.

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. If only a few transactions are known in the area, a couple of deviating cases may significantly affect the average price for an area and the price index. Instead of individual monthly and annual changes, the development of prices should be examined over a longer time period and not only for a particular point in time.


Source: Prices of dwellings in housing companies, Statistics Finland

Inquiries: Petri Kettunen 029 551 3558, Elina Peltoniemi 029 551 3088, asuminen.hinnat@stat.fi

Head of Department in charge: Hannele Orjala

Publication in pdf-format (358.5 kB)

Tables

Tables in databases

Appendix tables

Quality descriptions
Revisions in these statistics

Updated 30.12.2021

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. November 2021. Helsinki: Statistics Finland [referred: 20.1.2022].
Access method: http://www.stat.fi/til/ashi/2021/11/ashi_2021_11_2021-12-30_tie_001_en.html