Price development of old dwellings in housing companies unchanged as transactions plummeted in April

According to Statistics Finland's preliminary data, prices of old dwellings in housing companies rose compared to April 2019 by two per cent in Greater Helsinki and decreased as much in the rest of Finland. Compared to March, prices remained almost unchanged in Greater Helsinki and elsewhere in Finland.

Development of prices of old dwellings in housing companies by month, index 2015=100

Based on transactions made through real estate agents, around 35 per cent fewer transactions of old dwellings were made in April compared with the corresponding period last year.

According to preliminary data, in large towns prices rose most in Helsinki in Turku compared to the corresponding period last year. Prices went up slightly in Tampere, Espoo and Vantaa from April 2019.

Development of prices of old dwellings in housing companies by month in large cities in 2015 to 2020M04

In April, the average price per square metre of an old dwelling in a block of flats was EUR 4,800 in Helsinki, EUR 2,069 in Turku and EUR 2,600 in Tampere.

Prices per square metre of old dwellings in housing companies, April 2020 ¹⁾

Area	Price, EUR/m²	Index 2015=100	Monthly change, %	Yearly change, %
Whole country	2,155	103.7	0.1	-0.2
Greater Helsinki	3,846	113.0	0.6	1.9
Rest of the country (whole country - Greater Helsinki)	1,659	95.4	-0.4	-2.2
Satellite municipalities ²⁾	2,066	94.7	-0.9	-3.7
Helsinki	4,415	117.3	1.4	2.5
Espoo-Kauniainen	3,501	106.8	0.2	1.0
Vantaa	2,894	104.4	-2.3	0.8
Tampere	2,527	109.0	1.3	0.6
Turku	2,180	114.4	0.6	3.6
Oulu	1,848	99.1	-1.0	-3.8

1) Preliminary data
2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti

When the monthly statistics on prices of dwellings in housing companies are published, they cover approximately 70 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. Further information about data revisions can be found in separate tables.

Starting from March 2020, the data used in the statistics on prices of old dwellings in housing companies are the Tax Administration's data on dwellings (data on ownership of dwellings in housing companies). Data on dwellings should not be used to assess the activity of transactions in the latest period.

The numbers of old dwellings in housing companies sold through real estate agents are based on the data from the price monitoring service of the Central Federation of Finnish Real Estate Agencies.

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

Quality descriptions

Quality Description: Prices of dwellings in housing companies (28.5.2020)

Revisions in these statistics

Revisions in these statistics (28.5.2020)

Updated 28.5.2020

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. April 2020. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ashi/2020/04/ashi_2020_04_2020-05-28_tie_001_en.html