Published: 30 January 2008
The rise in the prices of dwellings slowed down in late 2007
According to preliminary data, prices of dwellings rose during the last quarter of 2007. The prices of dwellings in old blocks of flats rose by an average of 0.4 per cent in the whole country when compared with the previous quarter. The rate of increase in the prices has slowed down towards the end of the year, as during the first quarter of 2007 the prices of dwellings in old blocks of flats rose by 1.9 per cent from the previous quarter. In October-December 2007, the prices of dwellings in old blocks of flats in Greater Helsinki rose by 0.5 per cent and those of the rest of Finland by 0.2 per cent from the previous quarter. These data derive from the statistics on the prices of dwellings compiled by Statistics Finland on the basis of the Tax Administration's data. Preliminary data comprise roughly two-thirds of the transactions in dwellings in old blocks of flats and in terraced housing.
In Helsinki the prices of dwellings in old blocks of flats rose by 0.7 per cent and in Vantaa by 1.4 per cent. In Espoo and Kauniainen prices fell by 1.2 per cent from the previous quarter. Prices went up by 0.7 per cent in Tampere and by 0.1 per cent in Jyväskylä. Prices fell by 1.1 per cent in Oulu, by 0.6 per cent in Turku and by 0.3 per cent in Lahti and Kuopio.
The prices of dwellings in old blocks of flats rose in the whole country by an average of 5.1 per cent from the year before. Prices went up by 6.1 per cent in Greater Helsinki and by 4.2 per cent in the rest of Finland.
According to preliminary data the number of dwelling transactions in 2007 was on level with the previous year.
Real price index of dwellings in old blocks of flats* by
quarter
I/1970-IV/2007, 1970=100
* The general development of consumer prices has been removed from the change in prices of dwellings.
Unencumbered average selling prices of dwellings in old blocks of flats per square metre, index figures for the 4th quarter 2007 and changes1,2 from the 3rd quarter 2007 and the 4th quarter 2006. The data are preliminary.
Region |
Average
price e/m2 IV/2007 |
Index2
point figure IV/2007 |
Change in index, % III/2007-IV/2007 |
Change in index, % IV/2006-IV/2007 |
Number of transactions IV/2007 |
| Whole country | 2,002 | 150.4 | 0.4 | 5.1 | 8,003 |
| Greater Helsinki | 3,054 | 156.0 | 0.5 | 6.1 | 2,746 |
| Rest of country | 1,453 | 144.8 | 0.2 | 4.2 | 5,257 |
| Uusimaa | 2,861 | 155.5 | 0.7 | 6.1 | 3,297 |
| Itä-Uusimaa | 1,900 | 176.8 | -1.3 | 16.3 | 91 |
| Varsinais-Suomi | 1,552 | 156.2 | -0.2 | 2.2 | 537 |
| Satakunta | 1,125 | 137.7 | 0.7 | 6.2 | 232 |
| Kanta-Häme | 1,407 | 151.0 | 3.0 | 12.3 | 152 |
| Pirkanmaa | 1,766 | 148.9 | 0.6 | 3.3 | 881 |
| Päijät-Häme | 1,348 | 145.8 | -0.7 | 2.7 | 471 |
| Kymenlaakso | 1,136 | 146.6 | 2.2 | 6.3 | 357 |
| South Karelia | 1,341 | 134.1 | -1.2 | 1.7 | 247 |
| Etelä-Savo | 1,224 | 141.9 | 0.3 | 7.3 | 205 |
| Pohjois-Savo | 1,440 | 147.6 | -0.9 | 3.2 | 369 |
| North Karelia | 1,416 | 142.7 | -5.7 | -1.5 | 118 |
| Central Finland | 1,418 | 131.2 | 0.9 | 3.9 | 302 |
| South Ostrobothnia | 1,131 | 138.6 | 0.6 | 8.1 | 66 |
| Ostrobothnia | 1,373 | 137.3 | 2.2 | 10.0 | 154 |
| Central Ostrobothnia | 1,094 | 136.5 | -1.0 | 10.2 | 42 |
| North Ostrobothnia | 1,375 | 127.7 | -1.7 | -1.9 | 277 |
| Kainuu | 1,128 | 131.1 | 5.5 | 8.4 | 73 |
| Lapland | 1,017 | 126.2 | -1.6 | 3.5 | 132 |
| Helsinki 3 | 3,368 | 158.3 | 0.7 | 5.9 | 1,838 |
| Helsinki-1 | 4,672 | 164.7 | 0.7 | 5.0 | 321 |
| Helsinki-2 | 3,505 | 160.8 | 1.7 | 6.7 | 922 |
| Helsinki-3 | 2,590 | 151.0 | -0.3 | 6.3 | 274 |
| Helsinki-4 | 2,190 | 143.7 | -1.3 | 4.5 | 321 |
| Espoo-Kauniainen | 2,526 | 148.6 | -1.2 | 6.2 | 453 |
| Vantaa | 2,069 | 148.6 | 1.4 | 7.4 | 455 |
| Surrounding municipalities4 | 1,738 | 149.7 | 2.3 | 7.1 | 432 |
| Porvoo | 2,061 | 173.8 | -1.6 | 12.5 | 84 |
| Tampere | 1,999 | 152.5 | 0.7 | 3.9 | 633 |
| Turku | 1,705 | 160.8 | -0.6 | 1.2 | 313 |
| Pori | 1,193 | 138.8 | 0.6 | 5.5 | 137 |
| Rauma | 1,188 | 145.5 | 2.7 | 11.8 | 61 |
| Lappeenranta | 1,564 | 140.4 | 0.7 | 3.1 | 161 |
| Kotka | 1,292 | 156.7 | 3.8 | 6.1 | 167 |
| Kouvola | 1,095 | 141.4 | 2.0 | 6.5 | 115 |
| Lahti | 1,447 | 147.6 | -0.3 | 2.1 | 345 |
| Hämeenlinna | 1,687 | 156.3 | 3.2 | 11.3 | 79 |
| Kuopio | 1,705 | 151.6 | -0.3 | 2.9 | 235 |
| Jyväskylä | 1,675 | 132.2 | 0.1 | 1.8 | 200 |
| Vaasa | 1,563 | 141.2 | 3.2 | 12.2 | 123 |
| Seinäjoki | 1,225 | 138.1 | -2.1 | 7.1 | 45 |
| Kokkola | 1,131 | 141.2 | -1.1 | 11.0 | 41 |
| Mikkeli | 1,502 | 147.3 | -5.0 | 0.7 | 91 |
| Joensuu | 1,702 | 151.3 | -7.8 | -3.0 | 81 |
| Oulu | 1,476 | 129.3 | -1.1 | -2.0 | 227 |
| Kajaani | 1,147 | 131.5 | 3.7 | 3.1 | 59 |
| Rovaniemi | 1,197 | 129.5 | -1.3 | 1.4 | 73 |
1 The change per cent is calculated by
using the index point figure. The change can not be calculated
directly from the average price per square meter due to differences
in the structures of the data.
2 Nominal price index 2000=100
3 The division of Helsinki into regions
is based on the classification of postal area codes. Precise
division into regions is available on the Internet at www.tilastokeskus.fi/til/ashi/luo.html
4 Surrounding municipalities = Hyvinkää,
Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo,
Tuusula and Vihti
.. = fewer than 20 completed transactions
Source: Price of dwellings 2007, 4th quarter
Inquiries: Ms Paula Paavilainen +358 9 1734 3397, Mr Petri Kettunen +358 9 1734 3558, asuminen.tilasto@stat.fi
Director in charge: Mr Kari Molnar
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Last updated 30.1.2008
Official Statistics of Finland (OSF):
Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. 4th quarter 2007. Helsinki: Statistics Finland [referred: 17.11.2024].
Access method: http://www.stat.fi/til/ashi/2007/04/ashi_2007_04_2008-01-30_tie_001_en.html