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1. Prices of old dwellings in blocks of flats rose in the period April-June

According to preliminary data, prices of old dwellings in blocks of flats rose by an average of 0.9 per cent from the previous quarter in the whole country. In Greater Helsinki, prices rose by 1.2 per cent and in the rest of the country by 0.5 per cent. Compared with the corresponding quarter of the year before, prices went up by 3.6 per cent in the whole country. In Greater Helsinki, prices rose by 4.2 per cent and in the rest of the country by 2.9 per cent.

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

Looked at by type of apartment, prices of one-room flats rose by most from the previous quarter in Greater Helsinki. Prices of one-room flats rose by 3.2 per cent in Greater Helsinki and by 0.2 per cent in the rest of the country. During the same time period, prices of two-room flats rose by 1.5 per cent in Greater Helsinki but remained almost unchanged in the rest of the country. Compared with the previous quarter, prices of three-room and larger flats went up by 0.8 per cent in Greater Helsinki and by 1.0 per cent in the rest of the country.

In the second quarter of 2011, the average price per square meter of an old dwelling in a block of flats was EUR 2,289 in the whole country, EUR 3,477 in Greater Helsinki and EUR 1,631 elsewhere in the country. These data derive from the statistics on the prices of dwellings compiled by Statistics Finland from the Tax Administration’s data. The preliminary data comprise roughly two-thirds of completed transactions in old dwellings in blocks of flats and terraced houses..

Prices of new dwellings in blocks of flats rose by 3.7 per cent from the previous quarter in the whole country. In Greater Helsinki, prices fell by 1.0 per cent, while in the rest of Finland they went up by 7.1 per cent. Prices rose by most, or by 13.3 per cent, in Uusimaa outside Greater Helsinki. Compared with the corresponding period of the year before, prices of new dwellings in blocks of flats rose by 8.2 per cent in the whole country. In Greater Helsinki, prices went up by 7.5 per cent and in the rest of Finland by 8.7 per cent. Prices rose by most, or by 15.1 per cent, in Northern Finland.

In the second quarter of 2011, the average price per square meter of a new dwelling in a block of flats was EUR 3,577 in the whole country, EUR 4,806 in Greater Helsinki and EUR 3,005 elsewhere in the country. The data are based on the transaction price information of the largest building contractors and estate agents.

Source: Prices of Dwellings, Statistics Finland

Inquiries: Petri Kettunen (09) 1734 3558, Tomi Martikainen (09) 1734 3632, asuminen.tilasto@stat.fi

Director in charge: Kari Molnar

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Updated 29.7.2011