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1. Prices of old dwellings in blocks of flats rose in January to March

According to preliminary data, prices of dwellings in old blocks of flats went up by an average of 1.8 per cent in the whole country compared with the previous quarter. Prices rose by 2.3 per cent in Greater Helsinki and by 1.2 per cent in the rest of Finland. Compared with the corresponding quarter of the year before, prices increased by 4.8 per cent in the whole country. In Greater Helsinki prices rose by 5.5 per cent and in the rest of the country by 4.0 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 three-room and larger flats rose most in the Greater Helsinki from the previous quarter. In Greater Helsinki prices of one-room flats rose by 2.4 per cent and in the rest of the country their prices went up by 1.5 per cent. Over the same period, prices of two-room flats rose by 1.8 per cent in Greater Helsinki and by 1.3 per cent in the rest of the country. Prices of three-room and larger flats rose by 2.6 per cent in Greater Helsinki and by 1.1 per cent in the rest of the country compared with the previous quarter.

In the first quarter of 2011, the average price per square metre of an old dwelling in a block of flats was EUR 2,249 in the whole country, EUR 3,405 in Greater Helsinki and EUR 1,609 elsewhere in the country.

Prices of new dwellings in blocks of flats fell by 1.6 per cent in the whole country from the previous quarter. In Greater Helsinki prices rose by 0.9 per cent, but in the rest of Finland they fell by 3.3 per cent. Prices fell most in Uusimaa outside Greater Helsinki, by 8.4 per cent. Compared with the cor-responding period of the year before, prices of new dwellings in blocks of flats rose by 5.1 per cent in the whole country. In Greater Helsinki prices went up by 8.4 per cent and in the rest of Finland by 2.8 per cent. Prices rose most in Northern Finland, by 8.6 per cent.

In the first quarter of 2011, the average price per square metre of a new dwelling in a block of flats was EUR 3,426 in the whole country, EUR 4,429 in Greater Helsinki and EUR 2,959 elsewhere in the country. The data are based on the price information of the largest building contractors and estate agents.

According to final data, prices of dwellings in old blocks of flats went up by an average of 9.2 per cent in the whole country in 2010 from the previous year. In Greater Helsinki the rise amounted to 11.2 per cent and in the rest of the country to 7.0 per cent. In Greater Helsinki the price per square metre of an old dwelling in a block of flats was EUR 3,279 and in the rest of Finland EUR 1,593.

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 28.4.2011