Published: 31 January 2019

Prices of old dwellings in housing companies rose in Turku in the last quarter of 2018

According to Statistics Finland's preliminary data, prices of old dwellings in housing companies rose by 0.3 per cent in Greater Helsinki in the fourth quarter of 2018 compared to the previous quarter. In the rest of Finland they went down by 0.4 per cent.

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 the corresponding period in 2017, prices went up by 2.2 per cent in Greater Helsinki while they fell by 0.6 per cent in the rest of Finland.

The prices of old dwellings in housing companies rose by 2.5 per cent in Turku compared to the previous quarter. Compared to the corresponding quarter in 2017, prices rose by nearly five per cent. According to preliminary data, prices of old dwellings in housing companies in Turku have risen compared to 2015 as much as in Helsinki. The increase in prices in Helsinki has evened out during the last quarters.

The preliminary data on the price change in Turku in the last quarter are based on 720 transactions. The preliminary data comprise, on average, two-thirds of completed transactions of old dwellings in blocks of flats and terraced houses.

According to data available to Statistics Finland, 58,124 transactions of old dwellings in housing companies were made in the whole country in January to December, which is around 1,600 transactions fewer than in the corresponding period in the previous year. In Greater Helsinki the number of known transactions is now around 500 fewer than in the corresponding period in the previous year.

Price of old dwellings in housing companies, 2018 4th quarter 1)

Area Price per square metre, EUR/m² Index 2015=100 Yearly change in index, % Quarterly change in index, %
Whole country 2,063 102.7 0.8 -0.1
Greater Helsinki 3,674 107.8 2.2 0.3
Rest of the country (whole country - Greater Helsinki) 1,589 97.9 -0.6 -0.4
Helsinki 4,245 111.6 4.0 1.1
Espoo-Kauniainen 3,411 102.9 -0.4 -0.5
Vantaa 2,627 99.9 -1.5 -1.9
Tampere 2,438 107.2 4.6 0.6
Turku 2,089 111.2 4.9 2.5
Jyväskylä 1,857 96.7 -0.4 -1.5
Oulu 1,747 100.4 -0.3 -0.6
1) The data concerning 2018 are preliminary

Prices of old dwellings in housing companies rose most in Helsinki and Tampere last year

According to preliminary data, prices of old dwellings in blocks of flats and terraced houses went up by 0.6 per cent from the previous year in the whole of 2018. In Greater Helsinki, prices went up by 2.5 per cent, while in the rest of Finland they went down by 1.2 per cent.

According to preliminary data, prices went up most in Helsinki and Tampere during the whole last year compared to 2017. Of all areas in the big towns, prices rose most in the most expensive areas in Tampere, Helsinki and Turku. Last year, prices went down most in Kokkola, Mikkeli and Vaasa compared to 2017

Prices of old dwellings in housing companies, whole year 2018* preliminary data

Index 2015=100 Yearly change in index 2017/2018, % Number of known transactions
Whole country 102.6 0.6 58,124
Greater Helsinki 107.4 2.5 16,878
Rest of the country (whole country- Greater Helsinki) 98.2 -1.2 40,884
Helsinki 110.2 3.7 10,324
Helsinki 1 114.6 4.9 1,748
Helsinki 2 112.5 5.0 4,037
Turku 107.8 2.7 3,455
Turku 1 112,6 4.4 1,421
Tampere 106.8 3.6 3,796
Tampere 1 112.5 6.6 1,429
Vaasa 93.4 -4.9 821
Mikkeli 93.7 -5.9 598
Kokkola 90.7 -7.5 271

In 2018, prices of new dwellings in blocks of flats and terraced houses went up by 0.7 per cent in the whole country. In Greater Helsinki, prices went up by 0.6 per cent and in the rest of the country by 0.8 per cent compared with the previous year. In the whole country, the average square meter price of a new dwelling was EUR 3,746, in Greater Helsinki EUR 4,917 and elsewhere in Finland EUR 3,333.

Prices remained stable in December

According to Statistics Finland’s preliminary data, prices of old dwellings in blocks of flats and terraced houses went down by 0.2 per cent in Greater Helsinki in November to December, while they went up by 0.2 per cent elsewhere in Finland. In the whole country, the prices remained unchanged. Compared with December 2017, prices went up by 2.7 per cent in Greater Helsinki while they fell by 0.3 per cent in the rest of Finland. In the whole country, prices went up by 1.2 per cent.

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

When the monthly statistics on prices of dwellings in housing companies are published they cover approximately 50 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. For further information about data revisions, see separate tables. It is not recommended to use the latest month’s number of transactions when describing the activeness of trading.

The information on old dwellings derive from the statistics on the prices of dwellings in housing companies compiled by Statistics Finland from the Tax Administration’s data. The preliminary data cover roughly two-thirds of completed transactions in old dwellings in blocks of flats and terraced houses. The data on new dwellings in blocks of flats are based on information on the transaction prices of the largest building contractors and estate agents. More detailed price data on dwellings in housing companies are available at http://tilastokeskus.fi/til/ashi/tau_en.html .


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

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Updated 31.1.2019

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. December 2018. Helsinki: Statistics Finland [referred: 19.2.2019].
Access method: http://www.stat.fi/til/ashi/2018/12/ashi_2018_12_2019-01-31_tie_001_en.html