Prices and sales volumes of old dwellings in housing companies continued to rise in August

According to Statistics Finland’s preliminary data, prices of old dwellings in housing companies rose in August in all the biggest towns and in all major regions except for Eastern Finland compared with the previous year. Compared with July, prices fell in the whole country by 0.7 per cent.

Development of prices of old dwellings in housing companies by month in large cities in 2015 to 2021M08, index 2015=100

Among large towns, prices of old dwellings in housing companies rose most in Turku and Helsinki compared with the corresponding period of last year. Since 2015, prices have gone up by nearly 25 per cent in Turku and by over 26 per cent in Helsinki.

In Greater Helsinki, prices of dwellings in blocks of flats rose by 6.3 per cent and in terraced houses by 5.8 per cent from one year ago.

Examined by major region, prices of old dwellings rose in August 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 over 20 per cent in Eastern Finland.

Development of prices of old dwellings in housing companies by month in major regions 2015–2021M08, index 2015=100

In August, nine per cent more sales of old dwellings in blocks of flats and terraced houses were made through real estate agencies than one year ago.

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

Area	Price, EUR/m²	Index 2015=100	Monthly change, %	Yearly change, %
Whole country	2,294	108.5	-0.7	4.4
Greater Helsinki	4,164	120.4	-0.3	6.1
Rest of the country (whole country - Greater Helsinki)	1,753	98.1	-1.2	2.8
Satellite municipalities ²⁾	2,289	99.6	0.2	4.8
Helsinki	4,849	126.4	0.4	8.0
Espoo-Kauniainen	3,848	111.9	-2.6	3.9
Vantaa	2,931	109.5	1.2	1.4
Tampere	2,893	118.3	1.3	7.2
Turku	2,359	124.8	-1.2	8.5
Oulu	2,018	108.8	0.4	5.6

1) Preliminary data
2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti

Number and total value of dwelling sales grew by around 40 per cent in the early part of the year 2021 from the previous year

Preliminary data on the total number and value of dwelling sales have been supplemented for the early part of the year. In the second quarter, the number of dwelling sales in the whole country rose by 43 per cent from the corresponding period last year. The combined number of dwelling sales in large towns (Helsinki, Espoo, Tampere, Vantaa, Oulu, Turku) grew by 39 per cent in the second quarter. Outside large towns, the numbers of sales grew by 46 per cent. It should be noted that dwelling sales dropped during the corona shutdowns in April to May 2020.

In January to June, the value of dwelling sales amounted to EUR 10.5 billion, which is 39 per cent more than one year ago. In large towns, the value of sales increased by 36 per cent and in the rest of the country by 42 per cent from last year. In the early part of the year, the value of sales compared to the value of the whole country was 47 per cent in Greater Helsinki and 62 per cent in large towns.

Statistics Finland collects data on the total number and value of dwelling sales into StatFin table 12r3 . The data in the table are updated retrospectively in connection with monthly statistics as concerns old dwellings in housing companies and building permits granted. The total number of dwelling sales in the third quarter will be released in November and value data in December.

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

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Appendix tables

Quality descriptions

Quality Description: Prices of dwellings in housing companies (29.9.2021)

Revisions in these statistics

Revisions in these statistics (29.9.2021)

Updated 29.9.2021

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. August 2021. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/ashi/2021/08/ashi_2021_08_2021-09-29_tie_001_en.html