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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

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. 4th quarter 2007. Helsinki: Statistics Finland [referred: 25.2.2024].
Access method: http://www.stat.fi/til/ashi/2007/04/ashi_2007_04_2008-01-30_tie_001_en.html