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1. Prices of blocks of flats went up in first quarter

According to preliminary data prices of old blocks of flats went up an average 1.9 per cent in the whole country from previous quarter. In Greater Helsinki prices went up by 2.4 per cent and in the rest of the country prices went up by 1.3 per cent. Average price per square metre in old blocks of flats was in whole country EUR 2,142, in Greater Helsinki EUR 3,204 euro and in the rest of country EUR 1,554. From previous year prices went up by 11.8 per cent in whole country. In Greater Helsinki prices went up by 15.7 per cent and in rest of country prices by 7.9 per cent.The information is from Statistics Finland’s quarterly house price statistics based on data from the Tax Authorities. Preliminary data comprise roughly two-thirds of completed transactions in dwellings in old blocks of flats and in terraced houses.

From previous quarter prices of old apartments went up by 2.9 per cent in Helsinki, by 2.6 per cent in Vantaa and in Espoo-Kauniainen 0.2 per cent. Prices went up in Tampere by 0.8 per cent, in Jyväskylä by 3.0 per cent and in Oulu by 0.4 per cent. In Turku prices went down by 0.4 per cent. Compared with previous year prices went up in Helsinki by 16.4 per cent, in Espoo-Kauniainen by 13.5 per cent and in Vantaa 13.8 per cent In Tampere prices went up by 11.0 per cent, in Turku by 9.0 per cent, in Jyväskylä by 8.8 per cent and in Oulu by 5.0 per cent. Average price per square metre in old blocks of flats was EUR 3,552 in Helsinki, EUR 2,732 in Espoo-Kauniainen, EUR 2,201 in Vantaa and EUR 2,049 in Tampere. From cities in statistics the cheapest average price per square metre was EUR 1,088 in Kouvola.

By type of apartment reviewed in Greater Helsinki prices of studios and multiple rooms flats went up more than prices of two room flats. In the first quarter of 2010 in Greater Helsinki prices of studios went up by 2.5 per cent and prices of multiple rooms flats by 3.2 per cent from previous quarter. During same time prices of two room flats went up by 1.0 per cent. Elsewhere in Finland prices of studios went up by 3.8 per cent, two room flats by 2.4 per cent and multiple rooms flats by 0.2 per cent from previous quarter.

The prices of dwellings in new blocks of flats in whole country went up by 3.3 per cent. In Greater Helsinki prices went up by 4.9 per cent and in the rest of the country by 2.2 per cent from previous quarter. In the rest of the country prices went up most in Rest of Uusimaa (exlusive of Greater Helsinki region) and Itä-Uusimaa by 5.3 per cent. In Greater Helsinki average price of square metre was EUR 4,151 and in the rest of the country EUR 2,849.

From the year before the prices of dwellings in new blocks of flats went up in the whole country by an average 8.7 per cent. In Greater Helsinki prices went up by 13.3 per cent an in the rest of country by 5.6 per cent. In the rest of the country prices went up most in Eastern Finland by 14.7 per cent, The data are based on the price information of the largest building contractors and real estate agents.

Source: House Prices, Statistics Finland

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Director in charge: Kari Molnar

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Updated 30.4.2010