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1. Prices of old dwellings in blocks of flats nearly unchanged in October to December

According to preliminary data, prices of dwellings in old blocks of flats went up in the last quarter of 2010 by 0.2 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 increased by 5.1 per cent in the whole country. In Greater Helsinki, prices rose by 5.5 per cent and in the rest of the country by 4.6 per cent.

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

When viewing by type of apartment, prices of one-room flats rose most in the rest of the country from the previous quarter. In Greater Helsinki prices of one-room flats fell by 0.2 per cent, while in the rest of the country their prices went up by 1.0 per cent. Over the same period, prices of two-room flats rose by 1.1 per cent in Greater Helsinki and by 1.0 per cent in the rest of the country. Prices of three-room and larger flats fell by 0.2 per cent in Greater Helsinki and by 0.5 per cent in the rest of the country compared with the previous quarter.

In the last quarter of 2010, the average price per square metre of an old dwelling in a block of flats was EUR 2,211 in the whole country, EUR 3,316 in Greater Helsinki and EUR 1,600 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.

Prices of new dwellings in blocks of flats remained unchanged in the whole country. In Greater Helsinki prices rose by 1.3 per cent, but in the rest of Finland they went down by 1.0 per cent. Prices fell most in Southern Finland, by 10.4 per cent. Compared with the corresponding period of the year before, prices of new dwellings in blocks of flats rose by 10.3 per cent in the whole country. In Greater Helsinki, prices went up by 12.8 per cent and in the rest of Finland by 8.7 per cent. Prices rose most in Northern Finland, by 20.3 per cent.

In the last quarter of 2010, the average price per square metre of a new dwelling in a block of flats was EUR 3,427 in the whole country, EUR 4,537 in Greater Helsinki and EUR 2,910 elsewhere in the country. The data are based on the price information of the largest building contractors and estate agents.

According to preliminary data, prices of dwellings in old blocks of flats went up by an average of 9.2 per cent in the whole country in 2010 from the previous year. In Greater Helsinki the rise amounted to 11.1 per cent and in the rest of the country to 7.1 per cent. In Greater Helsinki the price per square metre of an old dwelling in a block of flats was EUR 3,277 and in the rest of Finland EUR 1,594. In 2010 the price per square metre of a new dwelling in a block of flats was EUR 4,349 (+13.6% from 2009), in Greater Helsinki and EUR 2,873 (+8.9% from 2009) elsewhere in the country.

Source: Prices of Dwellings, Statistics Finland

Inquiries: Petri Kettunen (09) 1734 3558, Johanna Leivo (09) 1734 3397, asuminen.tilasto@stat.fi

Director in charge: Kari Molnar

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Updated 28.1.2011