Published: 31 August 2021

Prices of old dwellings in housing companies rose as sales of dwellings calmed down in July

According to Statistics Finland’s preliminary data, prices of old dwellings in housing companies rose in July in all the biggest towns and in all major regions except for Western Finland compared with the previous year. Compared with June, prices fell in the whole country by 0.4 per cent.

Development of prices of old dwellings in housing companies by month in large cities in 2015 to 2021M07, index 2015=100

Development of prices of old dwellings in housing companies by month in large cities in 2015 to 2021M07, index 2015=100

Among large towns, prices of old dwellings in housing companies rose most in Helsinki and Espoo compared with the corresponding period of last year. Since 2015, prices have gone up by around 13 per cent in Espoo and by nearly 26 per cent in Helsinki.

In Greater Helsinki, prices of dwellings in blocks of flats rose by 4.6 per cent and in terraced houses by 5.9 per cent from one year ago.

Examined by major region, prices of old dwellings rose in July on the annual level most in Southern Finland. Compared with 2015, prices have risen by 14 per cent in Southern Finland and remained almost unchanged in Northern and Western Finland. Prices have fallen by close on 20 per cent in Eastern Finland.

Development of prices of old dwellings in housing companies by month in major regions 2015–2021M07, index 2015=100

Development of prices of old dwellings in housing companies by month in major regions 2015–2021M07, index 2015=100

In July, five per cent fewer transactions of old dwellings in blocks of flats and terraced houses were made through real estate agencies than one year ago. In January to July 2021, the number of dwelling transactions made through real estate agents rose by 30 per cent from one year ago and by 21 per cent from 2019.

Prices per square metre of old dwellings in housing companies, July 2021 1)

Area Price, EUR/m² Index 2015=100 Monthly change, % Yearly change, %
Whole country 2,304 108.5 -0.4 3.1
Greater Helsinki 4,151 120.4 -0.3 5.0
Rest of the country (whole country - Greater Helsinki) 1,767 98.0 -0.4 1.1
Satellite municipalities 2) 2,255 96.2 -2.4 -0.6
Helsinki 4,734 125.7 -1.2 4.9
Espoo-Kauniainen 3,963 113.4 1.7 6.2
Vantaa 2,963 109.5 0.0 3.9
Tampere 2,766 115.3 -2.1 2.7
Turku 2,560 121.7 -2.8 4.4
Oulu 1,918 108.6 1.8 4.1
1) Preliminary data
2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti

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. Particularly in summer months, the number of transactions in the latest release of the monthly statistics may remain lower than usual and become revised in the coming months. 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. Further information about data revisions can be found in separate tables.

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. Instead of individual monthly and annual changes, the development of prices should be examined over a longer time period and not only for a particular point in time.


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

Publication in pdf-format (356.5 kB)

Tables

Tables in databases

Appendix tables

Quality descriptions
Revisions in these statistics

Updated 31.8.2021

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. July 2021. Helsinki: Statistics Finland [referred: 19.9.2021].
Access method: http://www.stat.fi/til/ashi/2021/07/ashi_2021_07_2021-08-31_tie_001_en.html