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Published: 1 April 2022

Prices of old dwellings in housing companies rose in February

According to Statistics Finland’s preliminary data, prices of old dwellings in housing companies rose in February in all the biggest towns and in all major regions except for Tampere and Western Finland compared to the previous year. In the whole country prices rose by 3.2 per cent from the year before. Compared to January, prices went up by 1.5 per cent in the whole country. In February, six per cent fewer 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 2022M02, index 2015=100

Development of prices of old dwellings in housing companies by month in large cities in 2015 to 2022M02, index 2015=100

Among large towns, prices of old dwellings in housing companies rose most in Turku and Oulu compared with the corresponding period of last year. Since 2015, prices have gone up by around 28 per cent in Turku and by eight per cent in Oulu.

In Greater Helsinki, prices of dwellings in blocks of flats rose by 2.5 per cent and in terraced houses by 8.3 per cent from one year ago.

Examined by major region, prices of old dwellings in housing companies rose in February on the annual level most in Southern and Northern Finland. Compared to 2015, prices have risen by over 15 per cent in Southern Finland. Prices have fallen by one per cent in Northern Finland and by 1.4 per cent in Western Finland. Prices have fallen by 19 per cent in Eastern Finland.

Development of prices of old dwellings in housing companies by month in major regions 2015–2022M02, index 2015=100

Development of prices of old dwellings in housing companies by month in major regions 2015–2022M02, index 2015=100

Prices per square metre of old dwellings in housing companies, February 2022 1)

Area Price, EUR/m² Index 2015=100 Monthly change, % Yearly change, %
Whole country 2,298 109.1 1.5 3.2
Greater Helsinki 4,154 121.6 2.0 4.3
Rest of the country (whole country - Greater Helsinki) 1,758 98.2 1.0 2.0
Satellite municipalities 2) 2,228 99.3 -1.9 1.3
Helsinki 4,804 127.4 1.4 4.5
Espoo-Kauniainen 3,842 114.4 4.7 4.8
Vantaa 2,981 108.6 -0.3 2.5
Tampere 2,806 114.8 -3.3 -0.5
Turku 2,506 127.5 7.3 7.5
Oulu 2,018 108.4 2.4 5.1
1) Preliminary data
2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti

According to preliminary data, the value of housing transactions was over EUR 20 billion in 2021, which is around 20 per cent more than in 2020. Greater Helsinki accounted for 46 per cent of the value and the six largest towns for 61 per cent. According to preliminary data, 110,000 dwelling transactions were made, which is 13 per cent more than one year earlier. Data on the value and number of dwelling transactions are not comparable prior to 2020 due to data changes.

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 sales made in the latest statistical reference month. Particularly in summer months, the number of sales in the latest release of the monthly statistics may remain lower than usual and become revised in the coming months. 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, Anu Rämö 029 551 3450, asuminen.hinnat@stat.fi

Head of Department in charge: Hannele Orjala

Publication in pdf-format (360.6 kB)

Tables

Tables in databases

Appendix tables

Quality descriptions
Revisions in these statistics

Updated 1.4.2022

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. February 2022. Helsinki: Statistics Finland [referred: 7.10.2022].
Access method: http://www.stat.fi/til/ashi/2022/02/ashi_2022_02_2022-04-01_tie_001_en.html