Prices of old dwellings rose from January to March

According to Statistics Finland’s preliminary data, prices of dwellings in old blocks of flats and terraced houses went up from January to March 2011 by 1.0 per cent in the whole country compared with the previous quarter. In Greater Helsinki prices rose by 1.0 per cent and in the rest of the country by 1.1 per cent. Compared with the corresponding period of the year before, prices went up by 3.9 per cent in the whole country. In Greater Helsinki the growth amounted to 4.3 per cent and in the rest of the country to 3.6 per cent.

Development of prices of dwellings, index 2005=100

In the first quarter of 2011, the average price per square metre of an old dwelling in a block of flats was EUR 2,162 in the whole country, EUR 3,338 Greater Helsinki and EUR 1,632 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.

Compared with the previous quarter, prices of dwellings in new blocks of flats and terraced houses fell by 0.9 per cent in the whole country. In Greater Helsinki prices fell by 1.1 per cent and in the rest of Finland by 0.8 per cent. Compared with the corresponding period of the year before, prices of new dwellings rose by 4.5 per cent in the whole country. In Greater Helsinki prices went up by 5.8 per cent and in the rest of Finland by 3.7 per cent. The average price per square metre of new dwellings was EUR 3,093 in the whole country, EUR 4,137 in Greater Helsinki and EUR 2,717 in the rest of Finland. The data are based on the price information of the largest building contractors and estate agents.

Annual statistics for 2010

In 2010 around 74,000 transactions of old dwellings in housing corporations were completed in the whole country. From the previous year, the number of transactions rose by 4.2 per cent in the whole country. In Greater Helsinki transactions decreased by 0.4 per cent while in the rest of the country their number went up by 5.9 per cent. Last year the average price per square metre of old dwellings in housing corporations was EUR 2,119 in the whole country, EUR 3,238 in Greater Helsinki and EUR 1,615 elsewhere in the country. From 2009, prices of old dwellings rose by 8.7 per cent in the whole country. In Greater Helsinki prices went up by 11.4 per cent and in the rest of Finland by 6.5 per cent.

Last year the total sum of housing transactions was handsome EUR 10.0 billion, which was about EUR 0.9 billion more than in 2009. One third of the transactions were made in the region of Uusimaa and their value was nearly one half of the total sum

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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Reviews

1. Prices of old dwellings in blocks of flats rose in January to March (28.4.2011)
2. Prices of dwellings in terraced houses fell in Greater Helsinki in January to March (28.4.2011)
3. Changes in prices of dwellings and in earnings level (28.4.2011)
4. House price development elsewhere (28.4.2011)

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Quality Description (28.4.2011)

Updated 28.4.2011

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. 1st quarter 2011. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/ashi/2011/01/ashi_2011_01_2011-04-28_tie_001_en.html