Published: 31 October 2019

Prices of old dwellings in housing companies rose in the third quarter of 2019 in Turku, Tampere and Helsinki compared to the previous year

According to Statistics Finland's preliminary data, prices of old dwellings in housing companies rose compared to the corresponding quarter of last year by 1.5 per cent in Greater Helsinki, while in the rest of Finland they fell slightly. Compared with the previous quarter, prices fell by 1.0 per cent in Greater Helsinki and remained almost unchanged in the rest of the country.

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

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

Among large towns, prices went up in Turku, Tampere and Helsinki compared with the corresponding quarter of 2018. Compared with the previous quarter, prices fell in Greater Helsinki and Oulu. Prices went up slightly in Turku and Tampere.

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

Compared with 2015, prices of old dwellings in housing companies have risen most in Helsinki, Turku and Tampere. Price development has been more moderate in Espoo, Vantaa and Oulu.

In the third quarter, the price per square metre of a one-bedroom dwelling in a block of flats in the most expensive area in Helsinki was EUR 7,179 and in the most expensive area in Turku EUR 3,257.

Across the country, prices of dwellings have decreased in recent years, but the considerable differences in price development and price levels regionally and within towns should be noted. For example, in Pori, prices of old dwellings in housing companies have fallen by almost eight per cent compared to 2015. In the centre of Pori, prices have fallen by 2.7 per cent, while they have gone down by almost 12 per cent further from the centre. Within Helsinki, for example, the differences in price development are also remarkable.

Data on prices of dwellings in housing companies in different areas are available at stat.fi/til/ashi/tau_en.html. The price development of the areas is discussed in an article of the Tieto&trendit periodical (in Finnish) published on 31 October 2019.

Prices of old dwellings in housing companies, 3rd quarter 2019 1)

Area Price, EUR/m² Index 2015=100 Quarterly change, % Yearly change, %
Whole country 2,086 103,1 -0,6 0,4
Greater Helsinki 3,719 109,0 -1,0 1,5
Rest of the country (whole country- Greater Helsinki) 1,605 97,6 -0,3 -0,8
Helsinki 4,320 113,3 -0,5 2,9
Espoo-Kauniainen 3,431 102,5 -2,1 -0,8
Vantaa 2,639 101,4 -0,8 -0,6
Satellite municipalities 2) 2,107 97,5 -0,9 -0,9
Tampere 2,497 109,1 1,0 2,4
Turku 2,077 112,1 1,4 3,0
Lahti 1,654 96,7 1,1 -2,3
Kuopio 1,791 90,2 0,4 -4,7
Jyväskylä 1,824 96,1 -0,7 -2,2
Oulu 1,763 99,3 -3,3 -1,7
Pori 1,310 92,6 -3,9 0,5
1) Preliminary data
2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti

Prices fell in Greater Helsinki on a monthly level

According to Statistics Finland’s preliminary data, prices of old dwellings in blocks of flats and terraced houses remained more or less unchanged in Greater Helsinki, while they fell by 1.1 per cent in the rest of Finland compared to September 2018. Compared with August, prices went down by 1.5 per cent in Greater Helsinki and rose slightly in the rest of the country.

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

The data on old dwellings in housing companies are based on the Tax Administration’s asset transfer taxation records. The reporting of asset transfer tax will change in November 2019, due to ongoing work in the Tax Administration related to this change the accumulation of the number of transactions is not currently comparable with earlier years, especially concerning the latest quarter. Instead of market activity, the numbers depict the reliability of the calculation of price data. Due to the implementation of the amendment to the Asset Transfer Tax Act and the Tax Administration’s information system renewal, statistical data is not accumulated from 1 October to 8 November 2019 and, therefore, statistics on prices of dwellings in housing companies will not be released in November and December. More about the change at link .

Publication of the price index of dwellings in housing companies will continue in January 2020. Then the preliminary data on old dwellings in housing companies will be revised and the final data for 2019 will be published in connection with the release concerning the first quarter of 2020. Further information about data revisions can be found in separate tables.

The data on new dwellings in housing companies published in database tables are based on information on the transaction prices of the largest building contractors and estate agents. The statistics on new dwellings will be reviewed and the data in the tables will be updated retrospectively from 2015 onwards in January 2020.


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 (430.3 kB)

Tables

Tables in databases

Appendix tables

Figures
Quality descriptions
Revisions in these statistics

Updated 31.10.2019

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. September 2019. Helsinki: Statistics Finland [referred: 17.11.2019].
Access method: http://www.stat.fi/til/ashi/2019/09/ashi_2019_09_2019-10-31_tie_001_en.html