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1. Prices of dwellings in blocks of flats in April to June

According to preliminary data, prices of dwellings in old blocks of flats went up by an average of 2.2 per cent in the whole country compared with the previous quarter. Prices rose equally much in Greater Helsinki and in the rest of Finland. Compared with the corresponding quarter of the year before, prices went up by 11.1 per cent in the whole country. In Greater Helsinki, prices rose by 13.9 per cent and in the rest of the country by 8.2 per cent.

Figure 1. Quarter-on-quarter changes in prices of dwellings in old blocks of flats

When viewed by type of apartment, prices of three-room and larger flats rose most from the previous quarter. In Greater Helsinki, prices went up by 2.5 per cent and in the rest of the country by 2.7 per cent. In the same period prices of two-room flats rose by 2.2 per cent in Greater Helsinki and by 1.7 per cent in the rest of the country. Prices of one-room flats went up the least of all types of apartments when compared with the previous quarter. In Greater Helsinki the rise amounted to 0.4 per cent and in the rest of Finland to 0.8 per cent.

In the second quarter of 2010 the average price per square metre of an old dwelling in a block of flats was EUR 2,198 in the whole country, EUR 3,274 in Greater Helsinki and EUR 1,602 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 terraced houses.

The prices of dwellings in new blocks of flats rose in the whole country by an average of 0.7 per cent from the previous quarter. In Greater Helsinki prices went down by 0.2 per cent, while in the rest of Finland prices went up by 1.4 per cent. In Southern Finland prices increased by 8.1 per cent. Compared with the corresponding period of the year before, prices of dwellings in new blocks of flats rose by 9.8 per cent in the whole country. In Greater Helsinki, prices went up by 11.7 per cent and elsewhere in Finland by 8.4 per cent.

In the second quarter of 2010 the average price per square metre of a new dwelling in a block of flats was EUR 3,298 in the whole country, EUR 4,158 in Greater Helsinki and EUR 2,898 elsewhere in the country. The data are based on the price information of the largest building contractors and estate agents.

Source: Prices of Dwellings, Statistics Finland

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

Director in charge: Kari Molnar

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Updated 30.7.2010