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Published: 30 July 2008

Prices of dwellings rose slightly in 2nd quarter

According to preliminary data, the nominal prices of old dwellings rose slightly over the April to June period. When compared with the previous quarter, dwelling prices rose by an average of 0.3 per cent in the whole country and by 0.7 per cent in Greater Helsinki. In the rest of the country prices fell by 0.1 per cent. The real prices of dwellings in old blocks of flats and in terraced houses fell in the whole country by an average of 1.1 per cent.

Compared with the previous quarter, the prices of dwellings in old blocks of flats went up by an average of 0.2 per cent in the whole country and by 0.4 per cent in Greater Helsinki. Prices stayed unchanged in the rest of Finland. 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 completed transactions in dwellings in old blocks of flats and in terraced houses.

In Helsinki the prices of dwellings in old blocks of flats rose by 0.1 per cent and in Espoo-Kauniainen by 1.8 per cent. Prices stayed unchanged in Vantaa. Prices rose by 1.3 per cent in Lahti and by 0.5 per cent in Kuopio, and fell by 4.2 per cent in Oulu, by 1.2 per cent in Tampere, by 1.1 per cent in Turku and by 0.4 per cent in Jyväskylä.

The prices of dwellings in old blocks of flats rose in the whole country by an average of 2.8 per cent from the year before. In Greater Helsinki, prices went up by 3.4 per cent and in the rest of Finland by 2.3 per cent.

When compared with the previous quarter, the prices of dwellings in new blocks of flats and terraced houses went up by 0.3 per cent in the whole country in the 2nd quarter of 2008. In Greater Helsinki prices fell by 2.2 per cent and in the rest of Finland they rose by 1.7 per cent. The average price per square metre of new dwellings was EUR 2,856 in the whole country, EUR 3,614 in Greater Helsinki and EUR 2,556 in the rest of Finland. The data are based on the price information of the largest building contractors and estate agents.

Real price index of dwellings in old blocks of flats* by quarter
I/1970- II/2008, 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 2nd quarter 2008 and changes1 from the 1st quarter 2008 and the 2nd quarter 2007.



Region
 Average price
e/m2
2008/2
 Index2
point figure
2008/2
 Change
in index, %
2008/1-2008/2		 Change
in index, %
2007/2-2008/2		 Number of
transactions
2008/2
Whole country 2,052 152.4 0.2 2.8 8,437
Greater Helsinki 3,110 158.4 0.4 3.4 2,658
Rest of country 1,499 146.4 0.0 2.3 5,779
Uusimaa 2,915 157.8 0.5 3.4 3,270
Itä-Uusimaa 1,939 177.2 2.1 5.1 65
Varsinais-Suomi 1,534 155.3 -0.6 -0.5 729
Satakunta 1,147 139.6 0.4 4.9 213
Kanta-Häme 1,442 148.2 -0.8 2.2 210
Pirkanmaa 1,823 149.8 -1.0 1.5 1,029
Päijät-Häme 1,380 145.1 -0.9 1.2 484
Kymenlaakso 1,188 152.5 0.9 6.6 340
South Karelia 1,410 137.1 1.9 4.3 225
Etelä-Savo 1,277 150.6 -1.0 5.9 206
Pohjois-Savo 1,515 149.9 2.2 0.3 317
Norht Karelia 1,502 148.5 -0.7 -2.8 181
Central Finland 1,445 129.6 -0.6 -1.0 355
South Ostrobothnia 1,164 139.6 0.6 6.9 65
Ostrobothnia 1,443 141.1 3.2 8.4 164
Central Ostrobothnia 1,379 158.4 5.8 7.8 36
North Ostrobothnia 1,446 127.6 -3.1 -1.7 314
Kainuu 1,228 138.0 3.1 16.7 70
Lapland 1,195 139.9 1.1 10.7 164
Helsinki 3 3,417 159.9 0.1 2.6 1,749
Helsinki-1 4,778 167.5 -0.1 4.5 262
Helsinki-2 3,498 160.3 -0.2 1.6 846
Helsinki-3 2,631 153.3 0.6 1.4 292
Helsinki-4 2,301 148.0 1.5 2.5 349
Espoo-Kauniainen 2,645 156.3 1.8 6.7 458
Vantaa 2,090 150.1 0.0 4.9 451
Surrounding municipalities 4 1,753 151.2 1.0 4.9 496
Porvoo 2,114 174.4 2.7 1.7 58
Tampere 2,042 151.9 -1.2 0.5 748
Turku 1,676 158.6 -1.1 -2.2 471
Pori 1,203 137.9 -1.7 1.6 126
Rauma 1,228 149.5 5.1 11.4 55
Lappeenranta 1,620 143.1 2.1 3.9 143
Kotka 1,366 165.8 1.6 9.5 126
Kouvola 1,130 144.8 -0.1 7.2 139
Lahti 1,491 149.5 1.3 3.1 369
Hämeenlinna 1,702 154.7 -1.4 2.3 122
Kuopio 1,759 152.1 0.5 -0.8 208
Jyväskylä 1,701 130.8 -0.4 -2.3 227
Vaasa 1,589 142.6 2.9 7.0 118
Seinäjoki 1,316 143.4 0.4 7.9 43
Kokkola 1,437 165.6 6.2 8.4 35
Mikkeli 1,591 157.2 -0.7 4.5 101
Joensuu 1,779 156.7 -0.4 -4.7 144
Oulu 1,507 126.8 -4.2 -3.1 243
Kajaani 1,165 134.2 -1.2 7.3 59
Rovaniemi 1,341 138.7 3.2 6.0 97

1 The change per cent is calculated by using the index point figure. The change cannot be calculated direct 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: Prices of dwellings 2008, 2nd quarter. Statistics Finland

Inquiries: Ms Paula Paavilainen +358 9 1734 3397. Mr Petri Kettunen +358 9 1734 3558. asuminen.tilasto@stat.fi

Frågor på svenska besvaras av Petri Kettunen.

Director in charge: Mr Kari Molnar

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Last updated 30.7.2008

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. 2nd quarter 2008. Helsinki: Statistics Finland [referred: 22.12.2024].
Access method: http://www.stat.fi/til/ashi/2008/02/ashi_2008_02_2008-07-30_tie_001_en.html