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1. Prices of 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 1.9 per cent in the whole country compared with the previous quarter. In Greater Helsinki, prices went up by 2.2 per cent and in the rest of the country by 1.7 per cent. Compared with the corresponding quarter of 2011, prices increased by 1.2 per cent in the whole country. In Greater Helsinki prices rose by 2.4 per cent and in the rest of the country they remained almost unchanged.

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

Viewed by type of apartment, prices of one-room flats rose by most in Greater Helsinki from the previous quarter. In Greater Helsinki prices went up by 2.8 per cent and in the rest of the country they remained almost unchanged. Over the same period, prices of two-room flats rose by 2.4 per cent in Greater Helsinki and by 1.6 per cent in the rest of the country. Prices of three-room and larger flats went up by 1.9 per cent in Greater Helsinki and in the rest of the country.

In the first quarter of 2012, the average price per square metre of an old dwelling in a block of flats was EUR 2,295 in the whole country, EUR 3,525 in Greater Helsinki and EUR 1,615 elsewhere in the country.

In the whole year 2011, prices of dwellings in old blocks of flats rose in the whole country by an average of 3.2 per cent from the year before. In Greater Helsinki the rise amounted to 4.2 per cent and in the rest of the country to 2.2 per cent. In Greater Helsinki the price per square metre of an old dwelling in a block of flats was EUR 3,429 and in the rest of Finland EUR 1,617.

Prices of new dwellings in blocks of flats rose by 4.1 per cent from the previous quarter in the whole country. In Greater Helsinki prices rose by 13.4 per cent, but in the rest of Finland they fell by 1.9 per cent. Prices fell by most in Northern Finland, by 6.3 per cent. Prices rose by 6.8 per cent in Eastern Finland. Compared with the corresponding period of 2011, prices of new dwellings in blocks of flats went up by 6.0 per cent in the whole country. In Greater Helsinki prices went up by 3.7 per cent and in the rest of Finland by 7.5 per cent. Prices rose by most, or by 12.0 per cent, in Uusimaa outside Greater Helsinki. Prices fell by 0.5 per cent in Northern Finland.

In the first quarter of 2012, the average price per square metre of a new dwelling in a block of flats was EUR 3,647 in the whole country, EUR 4,797 in Greater Helsinki and EUR 3,112 elsewhere in the country.

The data of old dwellings 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. The data of new dwellings 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 27.4.2012