Prices of old dwellings in housing companies fell in the first quarter of 2023

Prices fell less outside large towns

In January to March 2023, prices fell by 5.8 per cent in large towns and by 4.8 per cent in the rest of the country from one year back. Prices of dwellings in housing companies fell in all large towns but most in Greater Helsinki. Prices fell by 7.0 per cent from the previous year in Vantaa, by 6.2 per cent in Helsinki and by 5.9 per cent in Espoo. In Oulu prices of dwellings went down by 5.5 per cent, in Tampere by 5.4 per cent and in Turku by 3.3 per cent.

In March 2023, prices of old dwellings in housing companies fell in the whole country by 5.8 per cent from last year and by 0.1 per cent from the previous month. Compared to one year ago, prices went down by 6.6 per cent in large towns and by 4.2 per cent in the rest of the country. Among large towns, prices of dwellings fell most in Vantaa and Tampere. Prices fell by 8.6 per cent in Vantaa and by 7.6 per cent in Tampere. Prices fell least in Turku, by 2.4 per cent.

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Prices of one-room flats fell most in the early part of the year

In the first quarter of 2023, prices of dwellings in terraced houses went down by around 5.5 per cent in Greater Helsinki, by 3.6 per cent in the six largest towns and by 4.3 per cent in the rest of the country compared to the year before.

In the first quarter of the year, prices of dwellings in blocks of flats fell most for small dwellings. Prices of one-room flats decreased by 9.6 per cent and those of two-room flats by 7.7 per cent. Prices of family dwellings fell less. Prices of three-room and larger flats went down by 3.5 per cent and those of terraced houses by 4.0 per cent.

Prices for one-room flats fell most in Greater Helsinki and outside large towns. In Greater Helsinki, prices went down by 10.2 per cent and outside the six biggest towns by 10.6 per cent.

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Prices went down in several regional centres last year

According to Statistics Finland's data, prices of old dwellings in housing companies rose by 0.5 per cent in the whole country in 2022. Of the regional centres, prices rose most in Hämeenlinna and Kokkola, where they went up by 2.7 per cent. Of the regional centres, prices of dwellings also rose from the year before in Oulu, Tampere, Turku, Lappeenranta, Seinäjoki and Rovaniemi. Prices fell most in Kajaani, where prices of dwellings went down by over three per cent. In Mikkeli and Pori prices fell by over two per cent and in Joensuu and Vaasa by nearly two per cent. Prices fell by over one per cent in Jyväskylä and Kuopio.

In central Hämeenlinna and Lappeenranta prices rose by approximately three per cent. In central Joensuu, Kuopio and Jyväskylä prices fell by more than two per cent, and in central Pori prices fell by 3.5 per cent.

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Sales of new dwellings in housing companies decreased further in the first quarter of 2023

Compared to one year ago, prices of new dwellings in housing companies fell by 2.1 per cent and the number of sales was 70 per cent lower in the whole country than in the first quarter of 2022. From the previous quarter, prices of new dwellings in housing companies fell by 0.7 per cent in the whole country. The prices of dwellings in terraced houses rose by 0.6 per cent, while prices fell by 2.8 per cent in blocks of flats. Prices of one-room flats went down by 10.7 per cent and those of two-room flats by 5.0 per cent. Prices of three-room and larger flats in blocks of flats went up by 1.2 per cent.