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1. Prices of old dwellings in blocks of flats rose in the July to September period

According to preliminary data, prices of old dwellings in blocks of flats rose by an average of 1.2 per cent from the previous quarter in the whole country. In Greater Helsinki, prices went up by 1.9 per cent and in the rest of the country by 0.5 per cent. Compared with the corresponding quarter of 2011, prices rose by 2.4 per cent in the whole country. In Greater Helsinki, prices went up by 3.3 per cent and in the rest of the country by 1.5 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 by most from the previous quarter in the Greater Helsinki area. Prices of one-room flats rose by 1.6 per cent in Greater Helsinki and by 0.6 per cent in the rest of Finland. Over the same period, prices of two-room flats rose by 0.9 per cent in Greater Helsinki and by 0.4 per cent in the rest of the country. Prices of three-room and larger flats went up by 2.6 per cent in Greater Helsinki and by 0.6 per cent in the rest of the country.

In the third quarter of 2012, the average price per square metre of an old dwelling in a block of flats was EUR 2,338 in the whole country, EUR 3,570 in Greater Helsinki and EUR 1,656 elsewhere in Finland.

Prices of new dwellings in blocks of flats remained unchanged from the previous quarter in the whole country. In Greater Helsinki, prices fell by 0.4 per cent, while in the rest of Finland they went up by 0.2 per cent. Prices fell most, or by 4.8 per cent, in Southern Finland and rose fastest, or by 3.5 per cent, in Western Finland.

Compared with the corresponding period of 2011, prices of new dwellings in blocks of flats went up by 5.6 per cent in the whole country. In Greater Helsinki, prices rose by 9.3 per cent and in the rest of Finland by 3.2 per cent. Prices rose most, or by 7.8 per cent, in Southern Finland. In Uusimaa outside the Greater Helsinki area, prices fell by 3.3 per cent and in Northern Finland by 1.1 per cent.

In the third quarter of 2012, the average price per square metre of a new dwelling in a block of flats was EUR 3,738 in the whole country, EUR 4,962 in Greater Helsinki and EUR 3,168 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, Petteri Rautaporras 09 1734 3472, asuminen@stat.fi

Director in charge: Kari Molnar

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Updated 26.10.2012