Prices of dwellings

Updated: 30 Oct 2018
Next update: 31 Jan 2019

Price index of dwellings describe the development in the prices of old dwellings in housing companies.

Real price index indicates the change in real prices compared with the index base time period (year 2000). The real price index is derived by dividing the point figure of the nominal price index with the point figure of the Consumer Price Index of the corresponding time period and base year.

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 .

The monthly and quarterly statistics are suitable for monitoring short-term price development whereas the annually produced statistics provide more detailed information on the housing market by area, such as numbers of completed transactions. The data are based on asset transfer tax statements.

   

Prices of old dwellings in housing companies decreased in the third quarter

According to Statistics Finland's preliminary data, prices of old dwellings in housing companies fell in the whole country by 0.6 per cent in the third quarter of 2018 from the previous quarter. Prices went down by 0.8 per cent in Greater Helsinki and by 0.4 per cent in the rest of Finland. Compared with the corresponding period of 2017, prices rose by 0.7 per cent in the whole country. In Greater Helsinki, prices went up by 2.2 per cent, while in the rest of Finland they went down by 0.7 per cent.

In July to September, the average price per square metre of an old dwelling in a housing company was EUR 2,082 in the whole country, EUR 3,666 in Greater Helsinki and EUR 1,612 elsewhere in the country.

Prices of new dwellings in blocks of flats and terraced houses grew by 0.8 per cent in the whole country compared with the previous quarter. In Greater Helsinki, prices went up by 3.8 per cent, while in the rest of Finland they went down by 0.9 per cent.

Compared with the same period in 2017, prices of new units in housing companies rose by 2.3 per cent in the whole country. Prices went up by 4.3 per cent in Greater Helsinki and by 1.2 per cent in the rest of Finland. The average price per square metre of new units in housing companies was EUR 3,773 in the whole country, EUR 4,962 in Greater Helsinki and EUR 3,354 in the rest of the country.