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2. Prices of old dwellings in terraced houses rose in Greater Helsinki in October to December

According to preliminary data, prices of dwellings in old terraced houses rose by an average of 0.5 per cent in the whole country from the previous quarter. In Greater Helsinki prices rose by 1.8 per cent, while in the rest of Finland prices fell by 0.3 per cent. Compared with the corresponding period of the year before, prices of dwellings in old terraced houses increased by 5.8 per cent in the whole country, on average. In Greater Helsinki, prices went up by 8.2 per cent and in the rest of Finland by 4.3 per cent.

Figure 2. Quarter-on-quarter changes in prices of dwellings in old terraced houses

The average price per square metre for an old dwelling in a terraced house was EUR 2,028 in the whole country, EUR 3,197 in Greater Helsinki and EUR 1,641 elsewhere in Finland. 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 dwellings in new terraced houses rose in the whole country by 1.9 per cent from the previous quarter. In Greater Helsinki prices rose by 10.9 per cent, but in the rest of Finland they fell by 1.1 per cent. Prices fell most in Uusimaa outside the Greater Helsinki area and in Itä-Uusimaa, down by 2.8 per cent. Prices rose by 8.3 per cent in Northern Finland. Compared with the corresponding period of the year before, prices of dwellings in new terraced houses increased by 9.1 per cent in the whole country, on average. In Greater Helsinki, prices went up by 16.1 per cent and in the rest of Finland by 6.7 per cent. Prices rose fastest in Eastern Finland, by 18.6 per cent from the previous year.

The average price per square metre for a new dwelling in a terraced house was EUR 2,670 in the whole country, EUR 3,625 in Greater Helsinki and EUR 2,438 elsewhere in Finland. 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 terraced houses went up by an average of 8.2 per cent in the whole country in 2010 from the previous year. In Greater Helsinki the rise amounted to 11.8 per cent and in the rest of the country to 6.0 per cent. In Greater Helsinki the price per square metre of an old dwelling in a terraced house was EUR 3,157 and in the rest of Finland EUR 1,639. Prices of dwellings in new terraced houses rose in the whole country by 7.9 per cent. In Greater Helsinki the rise amounted to 12.8 per cent and in the rest of the country to 6.2 per cent. In Greater Helsinki the price per square metre of a new dwelling in a terraced house was EUR 3,503 and in the rest of Finland EUR 2,407.

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