Home > Statistics > Prices of dwellings in housing companies > 2017 > March > Prices of dwellings in housing companies decreased in the first quarter

Published: 2 May 2017

Prices of dwellings in housing companies decreased in the first quarter

According to Statistics Finland's preliminary data, prices of old dwellings in housing companies fell in the whole country by 0.3 per cent in the first quarter of 2017 from the previous quarter. Prices went down by 0.1 per cent in Greater Helsinki and by 0.5 per cent in the rest of Finland. Compared with the corresponding period of 2016, prices rose by 0.4 per cent in the whole country. In Greater Helsinki, prices went up by 2.5 per cent, while in the rest of Finland they went down by 1.4 per cent.

Development of prices of old dwellings in housing companies quarterly, index 2010=100

In January to March, the average price per square metre of an old dwelling in a housing company was EUR 2,306 in the whole country, EUR 3,686 in Greater Helsinki and EUR 1,688 elsewhere in the country.

Prices of new dwellings in blocks of flats and terraced houses grew by 4.9 per cent in the whole country compared with the previous quarter. In Greater Helsinki, prices rose by 5.9 per cent and in the rest of the country by 4.3 per cent.

Compared with the same period in 2016, prices of new units in housing companies rose by 5.4 per cent in the whole country. Prices went up by 10.4 per cent in Greater Helsinki and by 2.7 per cent in the rest of Finland. The average price per square metre of new units in housing companies was EUR 3,720 in the whole country, EUR 5,108 in Greater Helsinki and EUR 3,230 in the rest of the country.

The information on old dwellings derive from the statistics on the prices of dwellings in housing companies compiled by Statistics Finland from the Tax Administration’s data. The preliminary data cover roughly two-thirds of completed transactions in old dwellings in blocks of flats and terraced houses. The data on new dwellings in blocks of flats are based on information on the transaction prices of the largest building contractors and estate agents. More detailed price data on dwellings in housing companies are available at http://tilastokeskus.fi/til/ashi/tau_en.html .

Annual statistics for 2016

In 2016, good 61,200 transactions of old dwellings in housing companies were completed in the whole country. The number of transactions fell by 0.6 per cent in the whole country from the previous year. In Greater Helsinki, the number of transactions decreased by 1.3 per cent and in the rest of the country by 0.2 per cent. Last year, the average price per square metre of old dwellings in housing companies was EUR 2,298 in the whole country, EUR 3,632 in Greater Helsinki and EUR 1,701 elsewhere in the country. From 2015, prices of old dwellings in housing companies rose by 0.9 per cent in the whole country. In Greater Helsinki, prices went up by 2.1 per cent, whereas in the rest of Finland they fell by 0.2 per cent.

Last year, the total sum of housing transactions was nearly EUR 10.0 billion, which was EUR 0.4 billion more than in 2015. Over one-third of the transactions in the whole country were made in the region of Uusimaa and their value was over one-half of the total sum.

Prices of dwellings in housing companies rose in March

According to Statistics Finland’s preliminary data, prices of old dwellings in blocks of flats and terraced houses went up by 0.3 per cent from February to March in the whole country. In Greater Helsinki, prices went down by 0.3 per cent, whereas in the rest of Finland they rose by 0.9 per cent. Compared with March 2016, prices rose by 1.7 per cent in the whole country. In Greater Helsinki, prices rose by 3.6 per cent and in the rest of Finland they remained more or less unchanged.

Development of prices of old dwellings in housing companies by month, index 2010=100

In March 2017, the average price per square metre of an old dwelling in a housing company was EUR 2,282 in the whole country, EUR 3,610 in Greater Helsinki and EUR 1,687 elsewhere in the country.

When the monthly statistics on prices of dwellings in housing companies are published they cover approximately 50 per cent of all transactions made in the latest statistical month. The monthly data become revised during the following months so that the final data for the year are published in the release concerning the first quarter of the following year. For further information about data revisions, see separate tables.

Source: Prices of dwellings in housing companies, Statistics Finland

Inquiries: Petri Kettunen 029 551 3558, Elina Vuorio 029 551 2661, asuminen.hinnat@stat.fi

Director in charge: Mari Ylä-Jarkko

Publication in pdf-format (446.4 kB)

Reviews

• 1. Prices of old dwellings in blocks of flats fell in the January to March period (2.5.2017)
• 2. Prices of old dwellings in terraced houses fell in the January to March period (2.5.2017)
• 3. Changes in prices of dwellings and in earnings level (2.5.2017)

Tables

Tables in databases

Pick the data you need into tables, view the data as graphs, or download the data for your use.

• Database tables and their variables
• Archived tables

Appendix tables

• Appendix table 1. Unencumbered average prices per square metre of old dwellings in housing companies, March 2017 1) (2.5.2017)
• Appendix table 2. Unencumbered average prices per square metre of blocks of flats, March 2017 1) (2.5.2017)
• Appendix table 3. Unencumbered average prices per square metre of terraced houses, March 2017 1) (2.5.2017)
• Appendix table 4. Unencumbered average prices per square metre of old dwellings in housing companies, February 2017 1) (2.5.2017)
• Appendix table 5. Unencumbered average prices per square metre of old dwellings in housing companies, January 2017 1) (2.5.2017)

Figures

• Appendix figure 1. Average prices per square meter of dwellings in old blocks of flats (2.5.2017)
• Appendix figure 2. Average prices per square meter of dwellings in old terraced houses (2.5.2017)
• Appendix figure 3. Price development of old and new dwellings from 2010 (2.5.2017)
• Appendix figure 4. Changes in prices of dwellings in major cities, 1st quarter 2017 (2.5.2017)
• Appendix figure 5. Real Price Index of dwellings in old blocks of flats 1970=100 (2.5.2017)

Quality descriptions

• Quality Description: Prices of dwellings in housing companies (2.5.2017)

Revisions in these statistics

• Revisions in these statistics (2.5.2017)

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Updated 2.5.2017