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1. Prices of old dwellings in blocks of flats rose slightly in the July to September period

According to preliminary data, prices of old dwellings in blocks of flats went up by an average of 0.2 per cent in the whole country compared with the previous quarter. In Greater Helsinki, prices rose by 0.4 per cent and in the rest of the country they remained unchanged. Compared with the corresponding quarter of the year before, prices went up by 3.3 per cent in the whole country. In Greater Helsinki, prices rose by 4.4 per cent and in the rest of the country by 2.2 per cent.

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

Viewed by type of apartment, prices of one-room flats rose by most from the previous quarter in the rest of the country. Prices of one-room flats went up by 2.1 per cent in the rest of the country and by 1.1 per cent in Greater Helsinki. Over the same period, prices of two-room flats rose by 0.5 per cent in Greater Helsinki and went down by 0.3 per cent in the rest of the country. Compared with the previous quarter, prices of three-room and larger flats stayed nearly unchanged compared with the previous quarter.

In the third quarter of 2011, the average price per square metre of an old dwelling in a block of flats was EUR 2,263 in the whole country, EUR 3,426 in Greater Helsinki and EUR 1,619 elsewhere in the country. These data derive from the statistics on the prices of dwellings compiled by Statistics Finland from the Tax Administration’s data. The preliminary data comprise roughly two-thirds of completed transactions in old dwellings in blocks of flats and terraced houses.

Prices of new dwellings in blocks of flats went up by 2.6 per cent from the previous quarter in the whole country. In Greater Helsinki, prices went up by 1.2 per cent and in the rest of Finland by 3.6 per cent. Prices rose by most in Eastern Finland, by 11.8 per cent. Prices fell by 4.3 per cent in Northern Finland. Compared with the corresponding period of the year before, prices of new dwellings in blocks of flats rose by 4.7 per cent in the whole country. In Greater Helsinki, prices went up by 2.4 per cent and in the rest of Finland by 6.3 per cent. Prices rose by most, or by 16.8 per cent, in Uusimaa outside Greater Helsinki. Prices fell by 4.0 per cent in Northern Finland.

In the third quarter of 2011, the average price per square metre of a new dwelling in a block of flats was EUR 3,527 in the whole country, EUR 4,621 in Greater Helsinki and EUR 3,018 elsewhere in the country. The data are based on the transaction price information of the largest building contractors and estate agents.

Source: Prices of Dwellings, Statistics Finland

Inquiries: Petri Kettunen (09) 1734 3558, Tomi Martikainen (09) 1734 3632, asuminen.tilasto@stat.fi

Director in charge: Kari Molnar

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Updated 28.10.2011