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Published: 4 May 2021

Prices of old dwellings in housing companies rose in all biggest towns in March

According to Statistics Finland's preliminary data, prices of old dwellings in housing companies rose in the first quarter and in March compared to the previous year in all large towns. In the first quarter 20 per cent more transactions of old dwellings in housing companies were made through real estate agents than one year ago.

Development of prices of old dwellings in housing companies quarterly in big cities, index 2015=100

In the first quarter prices rose in Greater Helsinki by 5.4 per cent and in March by 6.0 per cent in a year. In the rest of Finland prices remained unchanged in the first quarter and they decreased in March by one per cent. Examined by region, prices rose in the first quarter compared to the previous year most in Uusimaa, South Ostrobothnia and Pirkanmaa. Prices fell most in Central Ostrobothnia, Central Finland and South Karelia.

Development of prices of old dwellings in housing companies by regions, index 2015=100

Prices of new dwellings in housing companies rose in the first quarter

Compared to the corresponding period of the year before, prices of new dwellings in housing companies rose in the first quarter of 2021 by 6.5 per cent in Greater Helsinki and by 3.4 per cent in the rest of Finland. Compared with the previous year, prices of new dwellings increased most in Helsinki, Oulu and Vantaa.

Development of prices of new dwellings in housing companies quarterly, index 2015=100

Value of dwelling transactions EUR 17 billion last year

Prices of old dwellings in housing companies rose by 1.5 per cent in the whole of last year compared to the previous year. In Greater Helsinki, prices went up by 3.6 per cent and in the rest of Finland they fell by 0.6 per cent.

Compared to 2015, prices of old dwellings in housing companies have risen in biggest towns and Porvoo. They have risen most in Helsinki, Turku and Tampere. In the latter part of 2020 and in the early part of this year, Espoo has caught up with these towns’ price development.

Of large towns and regional centres, prices went down most in Kouvola, Mikkeli and Lahti compared to 2019. Compared to 2015, prices have fallen most in Kokkola, Kouvola and Hämeenlinna.

Prices of old dwellings in housing companies have fallen in recent years, but account has to be taken of differences between areas and inside towns in price development and price levels. For example, in the centre area of Turku prices have risen by 23 per cent compared to year 2015, and farther away from the centre by 8.5 per cent. In the centre area of Lappeenranta prices have decreased compared to 2015 by over 2 per cent, and farther away from the centre prices have gone down by around 15 per cent.

According to the available data, the value of dwelling transactions was nearly EUR 17 billion last year. In all, 69 per cent of the value came from transactions of old dwellings in housing companies. Altogether 46 per cent of the value was generated in Greater Helsinki. Data on 96,729 dwelling transactions made in 2020 are available to Statistics Finland. Data on the value and number of dwelling transactions in 2020 are not comparable with earlier years due to data changes.

The statistics on the prices of old dwellings in housing companies are based on the Tax Administration's data on dwellings (data on ownership of dwellings in housing companies). The numbers published from data on dwellings should not be used to assess the activeness of transactions in the latest periods.

When the monthly statistics on prices of old dwellings in housing companies are published for the first time, they cover approximately 60 per cent of all transactions made in the latest statistical reference month. The quarterly statistics include around 70 per cent of transactions in the latest period. The 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. Further information about data revisions can be found in separate tables.

The data on new dwellings in housing companies are based on information on the transaction prices reported by the largest building contractors and real estate agents. The numbers of old dwellings in housing companies sold through real estate agents are based on the data from the price monitoring service of the Central Federation of Finnish Real Estate Agencies. As a rule, these data do not become revised retrospectively.

Data on prices of dwellings in housing companies in different areas and by house type are available at stat.fi/til/ashi/tau_en.html. The tables also contain data on the prices per square metre at the municipal and postal code levels and on the numbers of transactions. If only a few transactions are known in the area, a couple of deviating cases may significantly affect the average price for an area and the price index.

Source: Prices of dwellings in housing companies, Statistics Finland

Inquiries: Petri Kettunen 029 551 3558, Elina Vuorio 029 551 3385, asuminen.hinnat@stat.fi

Head of Department in charge: Hannele Orjala

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Tables

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• Database tables and their variables
• Archived tables

Appendix tables

• Appendix table 1. Prices per square metre of old dwellings in housing companies, March 2021 1) (4.5.2021)
• Appendix table 2. Unencumbered average prices per square metre of old blocks of flats, March 2021 1) (4.5.2021)
• Appendix table 3. Unencumbered average prices per square metre of old terraced houses, March 2021 1) (4.5.2021)
• Appendix table 4. Prices of old dwellings in housing companies, whole year 2020 (4.5.2021)

Figures

• Appendix figure 2. Average prices per square meter of dwellings in old terraced houses (4.5.2021)
• Appendix figure 3. Price development of old dwellings in blocks of flats in Helsinki Metropolitan Area, index 2015=100 (4.5.2021)
• Appendix figure 4. Price development of old dwellings in blocks of flats in Tampere, Turku, Oulu and Kajaani, index 2015=100 (4.5.2021)
• Appendix figure 5. Real Price Index of old dwellings in blocks of flats, index 1970=100 (4.5.2021)

Quality descriptions

• Quality Description: Prices of dwellings in housing companies (4.5.2021)

Revisions in these statistics

• Revisions in these statistics (4.5.2021)

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Updated 4.5.2021