Published: 29 September 2020

Prices of old dwellings rose in August in most big cities

According to Statistics Finland's preliminary data, prices of old dwellings in housing companies rose by 2.1 per cent in Greater Helsinki and fell by 1.8 per cent in the rest of Finland compared to August 2019. Prices remained unchanged in the whole country. Compared to July, prices went down in Greater Helsinki by 1.2 per cent and in the rest of the country by 1.0 per cent. In August around three per cent fewer transactions of old dwellings in housing companies were made through real estate agents than in last year's corresponding month.

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 with the corresponding period of the year before, no significant changes took place in the price development in major regions.

Development of prices of old dwellings in housing companies by month in Major regions 2015–2020M08, index 2015=100

Development of prices of old dwellings in housing companies by month in Major regions 2015–2020M08, index 2015=100

According to preliminary data, of large towns prices fell in Turku and rose in other large towns in August compared to the previous year.

Development of prices of old dwellings in housing companies by month in large cities in 2015 to 2020M08

Development of prices of old dwellings in housing companies by month in large cities in 2015 to 2020M08

In transactions made through real estate agents, the average selling time (transaction time) of a dwelling in a block of flats sold in August was 63 days in Helsinki, 75 days in Tampere and 70 days Turku.

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

Area Price, EUR/m² Index 2015=100 Monthly change, % Yearly change, %
Whole country 2,203 103,6 -1,1 0,1
Greater Helsinki 3,900 113,2 -1,2 2,1
Rest of the country (whole country - Greater Helsinki) 1,702 95,1 -1,0 -1,8
Satellite municipalities 2) 2,182 95,3 -1,8 -0,0
Helsinki 4,533 116,7 -2,4 2,2
Espoo-Kauniainen 3,595 107,1 0,5 1,6
Vantaa 2,771 107,9 1,7 2,6
Tampere 2,619 112,1 1,6 3,3
Turku 2,110 110,4 -0,5 -2,6
Oulu 1,854 104,4 0,3 4,2
1) Preliminary data
2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti

In future, Statistics Finland will collect data on the total number and value of dwelling transactions into one 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. Data concerning the third quarter are released in October.

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

Head of Department in charge: Hannele Orjala

Publication in pdf-format (363.6 kB)

Tables

Tables in databases

Appendix tables

Quality descriptions
Revisions in these statistics

Updated 29.9.2020

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. August 2020. Helsinki: Statistics Finland [referred: 21.10.2020].
Access method: http://www.stat.fi/til/ashi/2020/08/ashi_2020_08_2020-09-29_tie_001_en.html