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Rents of new non-subsidised tenancies rose by an average of 3.5 per cent

The rents of new non-subsidised tenancies agreed in 2011 on the free rental market rose on average by 3.5 per cent from the year before.

In the Greater Helsinki Area, the rents of new tenancies rose by 5.0 per cent and elsewhere in the country by 2.9 per cent. The average rise in rents amounted to 6.2 per cent in Helsinki, 3.4 per cent in Vantaa and 0.6 per cent in Espoo. The rents of new tenancies went up by 4.0 per cent in Tampere, 5.6 per cent in Kuopio, 3.2 per cent in Jyväskylä, 3.5 per cent in Lahti and 1.6 per cent in Oulu.. In Turku rents went up by 3.8 per cent.

In the Greater Helsinki Area, the average rent per square metre of new non-subsidised tenancies was EUR 16.14 per month. Elsewhere in the country, the average rent per square metre was EUR 10.39.

Approximately 43 per cent of the new tenancies were for single room dwellings. In the Greater Helsinki the proportion of new tenancies for single room dwellings was approximately 49 per cent.

Bases for rent revisions

Index clauses were applied to rent revisions in 36.2 per cent new tenancy agreements; a fixed sum or percentage increase was used in 2.4 per cent of cases and other provision were applied in 30.2 per cent of agreements (incl. non-respondents). The basis on which rent would be revised was not stated in 31.2 per cent of new tenancy agreements.

Landlord category

The biggest single category of landlords are private individuals and death estates: 66.1 per cent of the respondents rented a dwelling from a private individual or a death estate. Housing associations accounted for 2.2 per cent of the landlords, while banks, insurance companies and non-financial corporations made up 7.2 per cent, and non-profit organisations, foundations, municipalities and other parties 24.5 per cent of the landlords.

Duration of tenancy agreement

The tenancy agreement with a new tenant was in force until further notice in 88 per cent of cases and for a specified time period in 12 per cent of cases.

Source: Rents of dwellings, Statistics Finland

Inquiries: Martti Korhonen 09 1734 3451, Tomi Martikainen 09 1734 3632, asuminen@stat.fi

Director in charge: Kari Molnar

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Updated 9.3.2012