Prices of old dwellings in housing companies fell in Greater Helsinki in the third quarter of 2023

Prices of old dwellings in housing companies decreased throughout the country

In July to September 2023, prices of old dwellings in housing companies fell by 7.6 per cent in large towns and by 6.7 per cent in the rest of the country from one year back. Prices fell most in Vantaa (9.3%) and Espoo (9.0%). Among large towns, prices fell least in Turku and Oulu, by around four per cent.

In September 2023, prices of old dwellings in housing companies fell in the whole country by 6.8 per cent from the previous year and by 0.8 per cent from August.

In large towns prices went down by 7.1 per cent and in the rest of the country by 6.1 per cent compared to September last year. Prices fell by 9.4 per cent in Vantaa, by 7.3 per cent in Helsinki and by 7.1 per cent in Espoo. Prices went down by 6.3 per cent in Tampere, by 6.2 per cent in Oulu and by 4.8 per cent in Turku.

Content is being loaded

Prices of one-room flats in blocks of flats fell by approximately 11 per cent in Greater Helsinki

In the third quarter of 2023, prices of dwellings in terraced houses fell by 6.0 per cent in the whole country from one year back. The fall in prices was more moderate elsewhere in the country than in Greater Helsinki.

In the third quarter, prices of dwellings in blocks of flats fell most for small dwellings. Prices of one-room flats decreased by 9.4 per cent and those of two-room flats by 8.1 per cent. Prices of family dwellings went down by 7.1 per cent.

Prices of dwellings in blocks of flats fell most in Greater Helsinki, where prices of one-room flats went down by around 11 per cent. The fall was good nine per cent for two-room flats and approximately seven per cent for family dwellings. Outside Greater Helsinki, prices of one-room and family dwellings fell by over seven per cent, while prices of two-room flats fell slightly more moderately, by close on seven per cent.

Content is being loaded

Prices of old dwellings continued to fall in regional centres

In the third quarter of 2023, prices of old dwellings in housing companies fell throughout Finland except for Kokkola. In Kokkola prices rose by 0.5 per cent year-on-year. Of the regional centres, prices fell most in Lahti, Kajaani and Jyväskylä. In Lahti prices decreased by 11.4 per cent, in Kajaani by 9.0 per cent and in Jyväskylä by 8.6 per cent.

From the previous quarter, prices rose in four regional centres. The price increases were biggest in Kokkola 4.9% and Turku 1.5%. Prices fell by around 11 per cent in Mikkeli, by 6.8 per cent in Lahti, by 6.1 per cent in both Jyväskylä and Joensuu.

Sales of new dwellings in housing companies still weak

In the third quarter of 2023, prices of new dwellings in housing companies fell by 3.7 per cent compared to the corresponding period of the previous year. Compared to the previous quarter, prices went down in the whole country by 4.9 per cent. Sales were 60 per cent lower in the whole country than in the third quarter of 2022.

Prices of new dwellings fell by 4.4 per cent in Greater Helsinki and by 3.1 per cent in the rest of the country from one year back. Prices of dwellings in terraced houses went down in the whole country by 8.0 per cent and those in blocks of flats by 2.4 per cent. Prices of one-room flats fell by 7.4 per cent, those of two-room flats by 1.8 per cent and those of family flats by 1.2 per cent.