Concepts and definitions

Floor area

In connection with housing price statistics the floor area refers to the livinga area of a dwelling.

Market price

The general actual selling price, or the price where supply and demand meet.

Mean price

With the help of the mean price concept the information of the observation group can be condensed to one key figure by expressing the mean price level of the observation group. Depending on the statistics, the dwelling price statistics utilise either arithmetic or geometric mean prices.

Nominal price index

Describes the change in prices relative to the base time period of the index (cf. real price index).

Plot for detached houses

In the real estate price statistics plots for detached houses or unbuilt plots for detached houses are defined on the basis of the land register with the following conditions: The purpose of use of the real estate is a residential building plot and it has no buildings. The real estate must neither be situated in a shore plan area. If the real estate is in a building plan or town plan area it is also required that the quality of the plan is residential detached area, the register has information about the permitted building volume and the building efficiency coefficient is under 0.5. In sparsely-populated areas the last condition cannot be checked because the quality of the plan and the permitted building volume have not been defined in the plan areas in question.

Quarterly change

Quarterly change refers to the relative change in the index of the quarter compared with the index of the previous quarter. The change is usually expressed in percentages.

Real estate

A real estate is a unit of ownership in a land or water area entered as real estate in the real estate register. Buildings and fixtures owned by the owner of a real estate and located on it belong to the real estate.

Real price

The price calculated with the prices of a certain base year, from which the effects of changes in the price level have been removed. In most cases the real price refers to the nominal price deflated with the Consumer Price Index.

Real price index

Indicates the change in real prices compared with the index base time period (e.g. 2000, 1983 or 1970). The real price index is derived by dividing the point figure of the nominal price index with the point figure of the Consumer Price Index of the corresponding time period and base year.