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Published: 22 June 2017

Largest housing loans in Greater Helsinki

Statistics Finland’s statistics on indebtedness show that the average size of housing loan per household-dwelling unit with a housing loan was EUR 97,220 in 2016. The average housing loan grew by 1.2 per cent year-on-year in real terms. Household-dwelling units in Greater Helsinki had the largest housing loans, EUR 133,630, on average. Housing loans also grew most in Greater Helsinki, by 2.6 per cent from the year before. Housing loans were lowest among those with housing loans in Northern and Eastern Finland, EUR 80,630, on average.

Average housing loans of household-dwelling units with housing loans in 2002 to 2016, EUR in 2016 money

There were 1,392,000 indebted household-dwelling units, that is, 52 per cent of all household-dwelling units. From 2002, the number of indebted household-dwelling units has grown by 106,000, or by eight per cent. The number of household-dwelling units with housing loans has grown most. One-third of all, or 879,500 household-dwelling units had housing loans in 2016, while in 2002, there were 660,000 household-dwelling units with housing loans, that is, 28 per cent of all household-dwelling units.

Household dwelling units' total debts amounted to EUR 117.8 billion. Debts grew by 2.2 per cent in real terms from the previous year. Household-dwelling units had EUR 85.5 billion in housing loans, which was 1.5 per cent more than in the year before. Loans charged on business activities or a source of income grew by 2.7 per cent and household-dwelling units had EUR 7.2 billion of them and EUR 25.1 billion in other debts taken out for consumption or studies. Consumption and study debts grew by 4.7 per cent from the previous year.

There were a total of 142,930 household-dwelling units with more than EUR 200,000 in debt, which represents 5.4 per cent of all household-dwelling units and 10.3 per cent of indebted household-dwelling units. The number of household-dwelling units this much in debt grew by four per cent from the previous year. They had 39 per cent of all household dwelling-units’ debts and 36 per cent of housing loans. In 2002, only under one per cent of all household-dwelling units were this much in debt and 1.7 per cent of indebted household dwelling-units, when loans in 2002 are measured in 2016 money.

Household-dwelling units with the reference person aged 35 to 44 had most often a housing loan. Sixty-one per cent of household-dwelling units of that age had housing loans. Housing loans were less common among the youngest and oldest household-dwelling units: eight per cent of household-dwelling units of persons aged under 25 and 11 per cent of those aged at least 65 had housing loans in 2016.

Housing loans were common for household-dwelling units that had children. Seventy-one per cent of household-dwelling units with two adults and children had housing loans. Their average housing loan was EUR 130,790 in 2016. The average housing loan of single-parent families was EUR 88,660. Childless household-dwelling units with two adults had, on average, EUR 83,590 in housing loans and one-person household-dwelling units EUR 65,980.

In 2016, the interest expenses of household-dwelling units were 40 per cent lower than in 2002, although their debts have more than doubled over this time. Household-dwelling units’ interest expenses totalled EUR 1.7 billion, of which EUR 1.0 billion were interests on housing loans. In 2016, households paid an average of EUR 1,190 in interests per indebted household dwelling unit. On average, household-dwelling units with housing loans paid EUR 1,090 in interests on their housing loans. Of indebted household-dwelling units, 60 per cent, or831,700 paid at most EUR 1,000 per year in interests and three per cent, or 36,600 household-dwelling units over EUR 5,000.

Source: Indebtedness 2016, Statistics Finland

Inquiries: Timo Matala 029 551 3422, toimeentulo@stat.fi

Director in charge: Jari Tarkoma

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Updated 22.6.2017