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Published: 30 October 2009

Dwelling prices went up in July–September

According to preliminary data, in July–September the prices of old blocks of flats and terraced houses went up by 2.5 per cent in the whole country from the previous quarter. In Greater Helsinki the prices rose by 3.6 per cent and elsewhere in the country by 1.5 per cent. Compared to the corresponding period of the year before, the prices of old dwellings in housing companies went up by 0.2 per cent in the whole country. In Greater Helsinki, the prices went up by 1.1 per cent, meanwhile prices went down elsewhere in the country by 0.6 per cent.

The average price for old dwelling per square metre was in July–September EUR 1,945 in the whole country, EUR 2,915 in Greater Helsinki and EUR 1,508 elsewhere in the country. These data derive from the statistics on the prices of dwellings compiled by Statistics Finland on the basis of the Tax Administration’s data. The preliminary data comprise roughly two-thirds of completed transactions in dwellings in old blocks of flats and in terraced houses.

From previous quarter prices went up in Helsinki by 4.0 per cent, in Espoo-Kauniainen by 3.7 per cent and in Vantaa by 1.6 per cent. Prices went up in Turku 3.3 per cent and in Tampere by 1.3 per cent. Prices went down in Oulu by 1.1 per cent. Compared to the corresponding period of the year before prices went up in Helsinki 1.9 per cent and in Espoo-Kauniainen by 0.5 per cent, but prices went down in Vantaa by 1.0 per cent. Prices went down in Tampere by 2.5 per cent and in Oulu by 0.5 per cent, in Turku prices remained unchanged.

In the third quarter of 2009, the prices of dwellings in new blocks of flats and terraced houses rose by 3.1 per cent from the previous quarter in the whole country. In Greater Helsinki the prices went up by 2.5 per cent, and in the rest of Finland by 3.4 per cent. The average price per square metre of new dwellings was EUR 2,802 in the whole country, EUR 3,589 in Greater Helsinki and EUR 2,519 in the rest of Finland. From previous year the prices in new blocks of flats and terraced houses went down by 1.1 per cent. In Greater Helsinki prices went up by 0.2 per cent, meanwhile in the rest of country prices went down by 1.9 per cent. The data are based on the price information of the largest building contractors and estate agents.

Real price index of dwellings in old blocks of flat quarterly I/1970 —III/2009, index 1970=100

Source: House Prices, Statistics Finland

Inquiries: Petri Kettunen (09) 1734 3558, Paula Paavilainen (09) 1734 3397

Director in charge: Kari Molnar

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Reviews

• 1. Prices of blocks of flats went up in third quarter (30.10.2009)
• 2. Prices of terraced houses went up in third quarter (30.10.2009)
• 3. Changes in House Prices, Wages and Consumer Prices (30.10.2009)

Tables

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• Database tables and their variables
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Figures

• 1. Average prices per square metre of dwellings in old blocks of flats from year 2005 (30.10.2009)
• 2. Average prices per square metre of dwellings in old terraced houses from year 2005 (30.10.2009)
• 3. Price development of old and new dwellings (30.10.2009)

Quality descriptions

• Quality Description (30.10.2009)

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Updated 30.10.2009