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Published: 28 January 2015

Prices of dwellings in housing companies fell in the fourth quarter

According to Statistics Finland’s preliminary data, prices of old dwellings in housing companies went down by 0.4 per cent in the whole country from the previous quarter in the fourth quarter 2014. Prices went down by 0.2 per cent in Greater Helsinki and by 0.5 per cent in the rest of Finland. Compared with the corresponding period of 2013, prices fell by 1.0 per cent in the whole country. Prices went down by 0.5 per cent in Greater Helsinki and by 1.5 per cent in the rest of Finland.

Development of prices of old dwellings in housing companies, index 2005=100

In the October to December period, the average price per square metre of an old dwelling in a housing company was EUR 2,262 in the whole country, EUR 3,556 in Greater Helsinki and EUR 1,678 elsewhere in the country.

Compared with the previous quarter, prices of dwellings in new blocks of flats and terraced houses fell by 0.6 per cent in the whole country. In Greater Helsinki, prices went up by 1.2 per cent, while in the rest of Finland they went down by 1.6 per cent.

Compared with the same period in 2013, prices of new units in housing companies rose by 1.4 per cent in the whole country. In Greater Helsinki, prices went up by 4.9 per cent, while in the rest of Finland prices went down by 0.5 per cent. The average price per square metre of new units in housing companies was EUR 3,495 in the whole country, EUR 4,781 in Greater Helsinki and EUR 3,032 in the rest of the country.

According to preliminary data, prices of old dwellings in blocks of flats and terraced houses went down by 0.6 per cent from the previous year in the whole of 2014. In Greater Helsinki, prices went up by 0.2 per cent, while in the rest of the country they went down by 1.3 per cent. In 2014, the average price per square metre was EUR 2,283 in the whole country, EUR 3,578 in Greater Helsinki and EUR 1,698 elsewhere in Finland. Final data on the prices of old dwellings in housing companies in 2014 will be published on 29 April 2015.

In 2014, prices of new dwellings in blocks of flats and terraced houses rose by 1.4 per cent in the whole country. In Greater Helsinki, prices went up by 2.4 per cent and in the rest of the country by 0.8 per cent compared with the previous year. In the whole country, the average price of a new dwelling was EUR 3,475, in Greater Helsinki EUR 4,691 and elsewhere in Finland EUR 3,037.

The information on old dwellings derive from the statistics on the prices of dwellings in housing companies compiled by Statistics Finland from the Tax Administration’s data. The preliminary data cover roughly two-thirds of completed transactions in old dwellings in blocks of flats and terraced houses. The data on new dwellings in blocks of flats are based on information on the transaction prices of the largest building contractors and estate agents. More detailed price data on dwellings in housing companies are available at http://tilastokeskus.fi/til/ashi/tau_en.html .

Prices of dwellings in housing companies almost unchanged in December

According to Statistics Finland’s preliminary data, prices of dwellings in old blocks of flats and terraced houses went up by 0.1 per cent in the whole country from November to December. Prices went up by 0.2 per cent in Greater Helsinki and remained nearly unchanged in the rest of Finland. Compared with December 2013, prices fell by 0.8 per cent in the whole country. Prices went down by 0.6 per cent in Greater Helsinki and by 0.9 per cent in the rest of Finland year-on-year.

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

In December 2014, the average price per square metre of an old dwelling in a housing company was EUR 2,179 in the whole country, EUR 3,455 in Greater Helsinki and EUR 1,678 elsewhere in the country.

When the monthly statistics on prices of dwellings in housing companies 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 separate tables.

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.

Source: Prices of dwellings in housing companies, Statistics Finland

Inquiries: Petri Kettunen 029 551 3558, Jaana Hellman 029 551 2661, asuminen.hinnat@stat.fi

Director in charge: Leena Storgårds

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Reviews

• 1. Prices of dwellings in blocks of flats fell in the October to December period (28.1.2015)
• 2. Prices of dwellings in terraced houses fell slightly in the October to December period (28.1.2015)
• 3. Changes in prices of dwellings and in earnings level (28.1.2015)

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 2014 1) (28.1.2015)
• Appendix table 2. Unencumbered average prices per square metre of blocks of flats, December 2014 1) (28.1.2015)
• Appendix table 3. Unencumbered average prices per square metre of terraced houses, December 2014 1) (28.1.2015)
• Appendix table 4. Unencumbered average prices per square metre of old dwellings in housing companies, November 2014 1) (28.1.2015)
• Appendix table 5. Unencumbered average prices per square metre of old dwellings in housing companies, October 2014 1) (28.1.2015)

Figures

• Appendix figure 1. Average prices per square meter of dwellings in old blocks of flats (28.1.2015)
• Appendix figure 2. Average prices per square meter of dwellings in old terraced houses (28.1.2015)
• Appendix figure 3. Price development of old and new dwellings from 2005 (28.1.2015)
• Appendix figure 4. Changes in prices of dwellings in major cities, 4th quarter 2014 (28.1.2015)
• Appendix figure 5. Real Price Index of dwellings in old blocks of flats 1970=100 (28.1.2015)

Quality descriptions

• Quality Description: Prices of dwellings in housing companies (28.1.2015)

Revisions in these statistics

• Revisions in these statistics (28.1.2015)

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Updated 28.1.2015