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Rents of new non-subsidised tenancies rose by an average of 2.8 per cent

The rents of new non-subsidised tenancies agreed in 2014 on the free rental market rose on average by 2.8 per cent from the year before.

In the Greater Helsinki Area, the rents of new tenancies rose by 4.2 per cent and elsewhere in the country by 1.9 per cent. The average rise in rents amounted to 4.1 per cent in Helsinki, 4.4 per cent in Vantaa and 4.8 per cent in Espoo. The rents of new tenancies went up by 2.7 per cent in Tampere, 3.4 per cent in Kuopio, 1.9 per cent in Jyväskylä, 2.5 per cent in Lahti and 2.4 per cent in Oulu. In Turku rents went up by 1.7 per cent.

In the Greater Helsinki Area, the average rent per square metre of new non-subsidised tenancies was EUR 18.77 per month. Elsewhere in the country, the average rent per square metre was EUR 11.68.

Approximately 45 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 48 per cent.

Index clauses were applied to rent revisions in 34,9 per cent new tenancy agreements; a fixed sum or percentage increase was used in 2,7 per cent of cases and other provision were applied in 34.1 per cent of agreements (incl. non-respondents). The basis on which rent would be revised was not stated in 28,3 per cent of new tenancy agreements.

The biggest single category of landlords are private individuals and death estates: 68 per cent of the respondents rented a dwelling from a private individual or a death estate. Housing associations accounted for 2.5 per cent of the landlords, while banks, insurance companies and non-financial corporations made up 8 per cent, and non-profit organisations, foundations, municipalities and other parties 21.5 per cent of the landlords.

The tenancy agreement with a new tenant was in force until further notice in 86 per cent of cases and for a specified time period in 14 per cent of cases.

The frame of the 2013 rent statistics contains a total of 753,000 dwellings, of which 3310,000 are government-subsidised and 443,000 non-subsidised.

Source: Rents of dwellings, Statistics Finland

Inquiries: Outi Hautamäki 029 551 3472, Martti Korhonen 029 551 3451, asuminen.hinnat@stat.fi

Director in charge: Leena Storgårds

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Updated 6.3.2015