Prices of old dwellings in housing companies rose in the biggest towns in third quarter

According to Statistics Finland’s preliminary data, prices of old dwellings in housing companies rose in all the biggest towns in the third quarter of 2021 and in September compared with the corresponding period of last year. In the third quarter, five per cent more dwelling transactions 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 Greater Helsinki, prices rose by 4.2 per cent in September. In the third quarter, prices in Greater Helsinki rose by 5.6 per cent from one year ago and went down by 0.4 per cent from the second quarter. Prices of dwellings in blocks of flats rose in Greater Helsinki by 5.0 per cent and prices of terraced houses by 6.9 per cent from the year before.

Of the large towns, prices fell in Helsinki, Vantaa and Turku from the previous quarter and remained unchanged in Espoo and Tampere. Prices rose slightly in Oulu.

Examined by region, prices rose most in Kymenlaakso, Päijät-Häme and Uusimaa in the third quarter compared to the previous year. Prices fell most in North Karelia, Central Finland and South Karelia.

Since 2015, prices of dwellings have risen by 18 per cent in Uusimaa. Prices have fallen by around six per cent in Kymenlaakso and Päijät-Häme. The fall has been nearly 14 per cent in South Karelia and around 20 per cent in North Karelia and Central Ostrobothnia.

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

Prices of old dwellings in housing companies, 3rd quarter 2021 ¹⁾

Area	Price, EUR/m²	Index 2015=100	Quarterly change, %	Yearly change, %
Whole country	2,202	109.5	-0.1	4.1
Greater Helsinki	4,137	120.6	-0.4	5.6
Rest of the country (whole country- Greater Helsinki)	1,654	99.6	0.2	2.5
Helsinki	4,820	126.6	-0.4	6.0
Espoo-Kauniainen	3,847	113.9	0.0	7.1
Vantaa	2,877	105.8	-1.0	0.9
Satellite municipalities ²⁾	2,247	100.5	1.2	2.0
Tampere	2,787	119.1	0.0	5.2
Turku	2,386	123.3	-1.2	6.8
Lahti	1,663	95.6	-0.1	5.8
Kuopio	1,890	93.5	2.9	2.1
Jyväskylä	1,740	90.8	-4.1	-3.0
Oulu	1,892	107.2	1.1	3.7

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

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

Compared to the corresponding period of the year before, prices of new dwellings in housing companies rose in the third quarter of 2021 by 9.8 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 Vantaa and Espoo.

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

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 sales 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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Quality descriptions

Quality Description: Prices of dwellings in housing companies (28.10.2021)

Revisions in these statistics

Revisions in these statistics (28.10.2021)

Updated 28.10.2021

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. September 2021. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/ashi/2021/09/ashi_2021_09_2021-10-28_tie_001_en.html