Published: 3 May 2019
Prices of old dwellings in housing companies continued rising in Turku in the first quarter of 2019
According to Statistics Finland's preliminary data, prices of old dwellings in housing companies rose compared to the corresponding quarter of last year by 1.5 per cent in Greater Helsinki, while in the rest of Finland they fell slightly. From the previous quarter, prices fell slightly in Greater Helsinki and elsewhere in Finland.
Development of prices of old dwellings in housing companies quarterly, index 2015=100
Preliminary data indicate that of large towns, prices of old dwellings in housing companies rose in Turku by 1.4 per cent from the previous quarter. Compared with the corresponding quarter of 2018, prices went up by 8.5 per cent. Prices of old dwellings in housing companies have risen in Turku compared to 2015 more than in Helsinki. The price rise in Helsinki has evened out during the past few quarters. In the first quarter, the price for a square metre of a one-bedroom dwelling in a block of flats in the most expensive area in Helsinki was EUR 7,327 and in the most expensive area in Turku EUR 3,326.
Preliminary data on price changes in Turku in the latest quarter are based on 611 transactions and in Helsinki on 2,013 transactions. The preliminary data comprise, on average, two-thirds of completed transactions in old dwellings in blocks of flats and terraced houses.
Price of old dwellings in housing companies, 2019 1st quarter 1)
| Area | Price, EUR/m² | Index 2015=100 | Quarterly change in index, % | Yearly change in index, % |
| Whole country | 2,068 | 102.0 | -0.6 | 0.6 |
| Greater Helsinki | 3,671 | 107.3 | -0.6 | 1.5 |
| Rest of the country (whole country - Greater Helsinki) | 1,594 | 97.2 | -0.6 | -0.2 |
| Helsinki | 4,227 | 111.1 | -0.4 | 3.0 |
| Espoo-Kauniainen | 3,357 | 101.1 | -1.8 | -1.7 |
| Vantaa | 2,715 | 101.6 | 1.1 | -0.2 |
| Tampere | 2,477 | 106.6 | -0.1 | 1.1 |
| Turku | 2,116 | 113.3 | 1.4 | 8.5* 2) |
| Jyväskylä | 1,784 | 96.9 | 0.0 | 0.4 |
| Oulu | 1,734 | 98.3 | -2.0 | -2.4 |
2) *Dwellings were sold in Turku at prices clearly below the general price level in the first quarter of 2018
Compared with the same period in 2018, prices of new dwellings rose by 2.7 per cent in the whole country. Prices rose by 6.7 per cent in Greater Helsinki and by half a per cent elsewhere in Finland. Prices of new dwellings in blocks of flats and terraced houses fell by 3.0 per cent in the whole country compared with the previous quarter. Prices went down by 2.4 per cent in Greater Helsinki and by 3.4 per cent in the rest of Finland.
Transactions of old dwellings in housing companies were most subdued last year than in the previous year
According to Statistics Finland, 60,800 transactions of old dwellings in housing companies were made last year. Compared with 2017, the number of transactions fell by 3.0 per cent. The number of transactions in Greater Helsinki fell by 4.0 per cent from the previous year. In the rest of Finland, 2.6 per cent fewer transactions were made than in the previous year.
Prices of old dwellings in blocks of flats and terraced houses went up by 0.6 per cent from the previous year in the whole of 2018. In Greater Helsinki, prices went up by 2.5 per cent, while in the rest of Finland they went down by 1.2 per cent.
During last year, prices rose most in Helsinki and Tampere compared to 2017. Of sub-areas of large towns, prices went up most in the most expensive areas of Tampere, Helsinki and Turku.
Last year, prices fell most in Kokkola and Mikkeli compared to 2017. Compared to 2015, prices have fallen most in Kouvola and Kotka.
In Greater Helsinki, prices continued rising in Helsinki, but the price development remained moderate in Vantaa and prices remained the same (Appendix figure 3) in Espoo compared to the previous year. Compared with 2015, prices have risen by 10.2 per cent in Helsinki, by 3.5 per cent in Espoo and by 1.5 per cent in Vantaa.
Prices of old dwellings in housing companies, 2018
| Index 2015=100 | Yearly change in index 2017/2018, % | Number of known transactions | |
| Whole country | 102.5 | 0.6 | 60,800 |
| Greater Helsinki | 107.4 | 2.5 | 17,550 |
| Rest of the country (whole country- Greater Helsinki) | 98.2 | -1.2 | 42,866 |
| Helsinki | 110.2 | 3.7 | 10,714 |
| Helsinki 1 | 114.6 | 4.9 | 1,831 |
| Helsinki 2 | 112.5 | 5.0 | 4,179 |
| Espoo-Kaunianen | 103.5 | 0.0 | 3,867 |
| Vantaa | 101.5 | 1.1 | 2,969 |
| Turku | 108.0 | 2.9 | 3,624 |
| Turku 1 | 112.7 | 4.5 | 1,504 |
| Tampere | 106.6 | 3.5 | 4,085 |
| Tampere 1 | 112.5 | 6.6 | 1,548 |
| Mikkeli | 93.8 | -5.9 | 607 |
| Kokkola | 91.1 | -7.2 | 308 |
Prices rose in March compared with the corresponding period of last year
According to Statistics Finland's preliminary data, prices of old dwellings in blocks of flats and terraced houses rose in Greater Helsinki by 1.2 per cent and in the rest of Finland by 0.2 per cent compared to March 2018. In the whole country, prices went up by 0.7 per cent. Prices fell from February to March in the whole country and in Greater Helsinki by 1.1 per cent and in the rest of Finland by one per cent.
Development of prices of old dwellings in housing companies by month, index 2015=100
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. It is not recommended to use the latest month’s number of transactions when describing the activeness of trading.
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 .
Source: Prices of dwellings in housing companies, Statistics Finland
Inquiries: Petri Kettunen 029 551 3558, Elina Vuorio 029 551 3385, asuminen.hinnat@stat.fi
Director in charge: Mari Ylä-Jarkko
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- Tables
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Appendix tables
- Appendix table 1. Unencumbered average prices per square metre of old dwellings in housing companies, March 2019 1) (3.5.2019)
- Appendix table 2. Unencumbered average prices per square metre of old blocks of flats, March 2019 1) (3.5.2019)
- Appendix table 3. Unencumbered average prices per square metre of old terraced houses, March 2019 1) (3.5.2019)
- Appendix table 4. Number of known transactions of old dwellings in housing companies in the early part of the year (3.5.2019)
- Figures
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- Appendix figure 1. Average prices per square meter of dwellings in old blocks of flats (3.5.2019)
- Appendix figure 2. Average prices per square meter of dwellings in old terraced houses (3.5.2019)
- Appendix figure 3. Price development of old dwellings in blocks of flats in Helsinki Metropolitan Area, index 2015=100 (3.5.2019)
- Appendix figure 4. Price development of old dwellings in blocks of flats in Tampere, Turku, Oulu and Kajaani, index 2015=100 (3.5.2019)
- Appendix figure 5. Real Price Index of old dwellings in blocks of flats, index 1970=100 (3.5.2019)
- Quality descriptions
- Revisions in these statistics
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- Revisions in these statistics (3.5.2019)
Updated 3.5.2019
Official Statistics of Finland (OSF):
Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. March 2019. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ashi/2019/03/ashi_2019_03_2019-05-03_tie_001_en.html