Prices of dwellings 

Updated: 28.10.2014 - Next update: 27.1.2015
   
 
 
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Prices of dwellings in housing companies in the third quarter

According to Statistics Finland’s preliminary data, prices of old dwellings fell in the whole country by 0.7 per cent from the previous quarter in the third quarter of 2014. Prices went down by 1.3 per cent in Greater Helsinki and by 0.2 per cent in the rest of Finland. Compared with the corresponding period of 2013, prices fell by 1.0 per cent in the whole country. Prices went down by 0.8 per cent in Greater Helsinki and by 1.2 per cent in the rest of Finland.

In the July to September period, the average price per square metre of an old dwelling in a housing company was EUR 2,284 in the whole country, EUR 3,582 in Greater Helsinki and EUR 1,698 elsewhere in the country.

Compared with the previous quarter, prices of dwellings in new blocks of flats and terraced houses fell by 0.8 per cent in the whole country. In Greater Helsinki, prices went up by 1.5 per cent, but in the rest of Finland they went down by 2.0 per cent.

Compared with the same period in 2013, prices of new units in housing companies rose by 0.5 per cent in the whole country. In Greater Helsinki, prices rose by 1.0 per cent and in the rest of Finland by 0.2 per cent. The average price per square metre of new units in housing companies was EUR 3,453 in the whole country, EUR 4,615 in Greater Helsinki and EUR 3,035 in the rest of the country.

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.

Source:
Statistics Finland, Prices of dwellings


Description of indicator

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 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.