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Published: 25 January 2013

Prices of dwellings fell slightly in December

According to Statistics Finland’s preliminary data, prices of old dwellings in blocks of flats and terraced houses fell by 0.3 per cent in the whole country in December compared with the previous month. In Greater Helsinki, as well as in the rest of Finland, prices went down by 0.3 per cent.

Compared with December 2011, prices rose by 3.7 per cent in the whole country. In Greater Helsinki, prices went up by 5.2 per cent and in the rest of the country by 2.4 per cent.

Development of prices of old dwellings by month, index 2010=100

In December 2012, the average price per square metre of an old dwelling in a housing company was EUR 2,162 in the whole country, EUR 3,459 in Greater Helsinki and EUR 1,653 elsewhere in the country.

When the monthly statistics on prices of dwellings are published they cover approximately 40 per cent of all transactions made in the latest statistical month. The monthly data become revised during the following months so that the final data for the year are published in the release concerning the first quarter of the following year. For further information about data revisions, see a separate tables. The base year of the monthly index is 2010. Data by area starting from 2010 are available in the StatFin service http://pxnet2.stat.fi/PXWeb/pxweb/fi/StatFin/StatFin__Asu__ashi/?tablelist=true (in Finnish only).

Prices of dwellings in the fourth quarter

In the last quarter of 2012, prices of old dwellings fell in the whole country by 0.4 per cent from the previous quarter. In Greater Helsinki, prices rose by 0.3 per cent, but in the rest of Finland they went down by 1.0 per cent. Compared with the corresponding period of the previous year, prices increased by 3.0 per cent in the whole country. Prices went up by 4.1 per cent in Greater Helsinki and by 2.1 per cent elsewhere in Finland.

Development of prices of old dwellings, index 2005=100

In October–December, the average price per square metre of an old dwelling in a housing company was EUR 2,233 in the whole country, EUR 3,468 in Greater Helsinki and EUR 1,676 elsewhere in the country.

Prices of new dwellings in blocks of flats and terraced houses rose by 0.3 per cent from the previous quarter in the whole country. In Greater Helsinki, prices went up by 3.0 per cent, but in the rest of Finland they went down by 1.1 per cent. In the last quarter of 2012, the number of dwelling transactions for new dwellings increased by approximately one-fifth compared to the corresponding period last year.

Compared with the last quarter in 2011, prices of new dwellings rose by 7.6 per cent in the whole country. Prices went up by 18.4 per cent in Greater Helsinki and by 2.1 per cent elsewhere in Finland. The average price per square metre of new dwellings was EUR 3,456 in the whole country, EUR 4,763 in Greater Helsinki and EUR 2,986 in the rest of the country.

According to preliminary data, prices of old dwellings in blocks of flats and terraced houses went up by 1.7 per cent from the previous year in the whole of 2012. In Greater Helsinki, prices increased by 2.4 per cent and in the rest of the country by 1.1 per cent. In 2012, the average price per square metre was EUR 2,224 in the whole country, EUR 3,442 in Greater Helsinki and EUR 1,675 elsewhere in Finland. Final data on the prices of old dwellings in 2012 will be published on 26/04/2013.

In 2012, prices of new dwellings in blocks of flats and terraced houses rose by 5.9 per cent. In Greater Helsinki, prices went up by 9.7 per cent and in the rest of the country by 3.9 per cent compared with the previous year. In the whole country, the average price of a new dwelling was EUR 3,359, in Greater Helsinki EUR 4,605 and elsewhere in Finland EUR 2,911.

The results of the monthly and quarterly statistics show deviations because the monthly statistics are produced by a less detailed regional division and have a different weight structure than the quarterly statistics. The base year of the quarterly index is 2005.

The statistics on prices of dwellings will be renamed as statistics on prices of dwellings in housing companies in connection with the next monthly release on 28 February 2013.

Source: Prices of Dwellings, Statistics Finland

Inquiries: Petri Kettunen 09 1734 3558, Petteri Rautaporras 09 1734 3472, asuminen@stat.fi

Director in charge: Leena Storgårds

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Reviews

• 1. Prices of old dwellings in blocks of flats rose slightly in Greater Helsinki in October to December period (25.1.2013)
• 2. Prices of dwellings in terraced houses fell in the October to December period (25.1.2013)
• 3. Changes in prices of dwellings and in earnings level (25.1.2013)

Tables

Tables in databases

Pick the data you need into tables, view the data as graphs, or download the data for your use.

• Database tables and their variables
• Archived tables

Appendix tables

• Appendix table 1. Unencumbered average prices per square metre of old dwellings in housing companies, December 2012 1) (25.1.2013)
• Appendix table 2. Unencumbered average prices per square metre of blocks of flats, December 2012 1) (25.1.2013)
• Appendix table 3. Unencumbered average prices per square metre of terraced houses, December 2012 1) (25.1.2013)
• Appendix table 4. Unencumbered average prices per square metre of old dwellings in housing companies, November 2012 1) (25.1.2013)
• Appendix table 5. Unencumbered average prices per square metre of old dwellings in housing companies, October 2012 1) (25.1.2013)

Figures

• Appendix figure 1. Average prices per square meter of dwellings in old blocks of flats (25.1.2013)
• Appendix figure 2. Average prices per square meter of dwellings in old terraced houses (25.1.2013)
• Appendix figure 3. Price development of old and new dwellings from 2005 (25.1.2013)
• Appendix figure 4. Changes in prices of dwellings in major cities, 4th quarter 2012, preliminary data (25.1.2013)
• Appendix figure 5. Real Price Index of dwellings in old blocks of flats 1970=100 (25.1.2013)

Quality descriptions

• Quality Description (25.1.2013)

Revisions in these statistics

• Revisions in these statistics (25.1.2013)

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Updated 25.1.2013