Home > Statistics > Real estate prices > 2017 > 1st quarter > Prices of old single-family houses fell by 0.7 per cent year-on-year in January to March

Published: 5 June 2017

Prices of old single-family houses fell by 0.7 per cent year-on-year in January to March

In the first quarter of 2017, prices for old single-family houses fell by an average of 0.7 per cent from the previous year in the whole country. In Greater Helsinki, prices went up by 0.6 per cent, while in the rest of Finland prices went down by 0.9 per cent compared with the corresponding period of the year before. Compared with the previous quarter, prices of old dwellings in detached houses increased by an average of 0.5 per cent in the whole country. These data derive from Statistics Finland’s Index of real estate prices, which is compiled by utilising data from the real estate transaction register of the National Land Survey of Finland.

Development of prices in old detached houses, index 2015=100

In the whole country, the average price per square metre of old single-family houses was EUR 1,549 in the first quarter of 2017. In Greater Helsinki, the average price per square metre of single-family houses was EUR 3,044. In the rest of the country, the average price per square metre was EUR 1,447.

In the first quarter of 2017, prices of single-family house plots increased by 0.8 per cent in the whole country from the year before. From the previous quarter, prices of plots increased by 5.7 per cent. The average price per square metre for a single-family house plot was EUR 24.4 in the whole country and the average sold plot size was 2,749 square metres.

In the first quarter of 2017, prices for new single-family houses rose by 1.4 per cent from the previous year in the whole country. Compared with the previous quarter, prices rose by 0.3 per cent. The data for new single-family houses are based on the building cost index and price data describing professional and own-account construction.

Development of prices in new detached houses, index 2010=100

Statistics on real estate prices renewed

The statistical model, review procedures, weight structure and classifications used in the calculation of old single-family houses and single-family house plots have been renewed and the new base year is 2015=100. Due to the changes, retrospectively calculated series for 2015 and 2016 differ from the previously published data (2005=100 series and 1985=100 series). Because of methodological changes, the index series are not comparable with each other.

Source: Real estate prices, Statistics Finland

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

Director in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Price index for old detached houses, 1st quarter 2017 (5.6.2017)
• Appendix table 2. Price index for single-family house plots, 1st quarter 2017 (5.6.2017)
• Appendix table 3. Price index for new detached houses, 2010=100 (5.6.2017)

Figures

• Appendix figure 1. Price development for single-family house plots, index 2015=100 (5.6.2017)

Quality descriptions

• Quality description: Real estate prices (5.6.2017)

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Updated 5.6.2017