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1. Prices of dwellings in blocks of flats in July to September

According to preliminary data, prices of dwellings in old blocks of flats went up by an average of 0.2 per cent in the whole country in the third quarter of 2010 compared with the previous quarter. In Greater Helsinki prices went down by 0.2 per cent, while in the rest of Finland prices went up by 0.7 per cent. Compared with the corresponding quarter of the year before, prices increased by 8.2 per cent in the whole country. In Greater Helsinki, prices rose by 9.0 per cent and in the rest of the country by 7.3 per cent.

Figure 1. Quarter-on-quarter changes in prices of dwellings in old blocks of flats

When viewing by type of apartment, prices of one-room flats rose most from the previous quarter, in Greater Helsinki by 2.7 per cent and in the rest of the country by 1.6 per cent. Over the same period, prices of two-room flats remained almost unchanged in Greater Helsinki and rose by 0.5 per cent elsewhere in Finland. Similarly, prices of three-room and larger flats fell by 0.7 per cent in Greater Helsinki, while in the rest of the country their prices rose by 0.7 per cent.

In the third quarter of 2010 the average price per square metre of an old dwelling in a block of flats was EUR 2,196 in the whole country, EUR 3,273 in Greater Helsinki and EUR 1,599 elsewhere in the country. These data derive from the statistics on the prices of dwellings compiled by Statistics Finland on the basis of the Tax Administration’s data. The preliminary data comprise roughly two-thirds of completed transactions in dwellings in old blocks of flats and terraced houses.

The prices of dwellings in new blocks of flats rose in the whole country by an average of 6.1 per cent from the previous quarter. In Greater Helsinki prices went up by 6.3 per cent and in the rest of Finland by 6.0 per cent. Prices rose most in Northern Finland, by 14.7 per cent. Prices fell by 8.7 per cent in Eastern Finland. Compared with the corresponding period of the year before, prices of new dwellings in blocks of flats rose in the whole country by 14.5 per cent, in Greater Helsinki by 16.7 per cent and in the rest of Finland by 13.0 per cent.

In the third quarter of 2010 the average price per square metre of a new dwelling in a block of flats was EUR 3,378 in the whole country, EUR 4,548 in Greater Helsinki and EUR 2,834 elsewhere in the country. The data are based on the price information of the largest building contractors and estate agents.

Source: Prices of Dwellings, Statistics Finland

Inquiries: Petri Kettunen (09) 1734 3558, Johanna Leivo (09) 1734 3397, asuminen.tilasto@stat.fi

Director in charge: Kari Molnar

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Updated 29.10.2010