Prices of dwellings 

Updated: 28.1.2015 - Next update: 29.4.2015
   
 
 
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Prices of dwellings in housing companies fell in the fourth quarter

According to Statistics Finland’s preliminary data, prices of old dwellings in housing companies went down by 0.4 per cent in the whole country from the previous quarter in the fourth quarter 2014. Prices went down by 0.2 per cent in Greater Helsinki and by 0.5 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 0.5 per cent in Greater Helsinki and by 1.5 per cent in the rest of Finland.

In the October to December period, the average price per square metre of an old dwelling in a housing company was EUR 2,262 in the whole country, EUR 3,556 in Greater Helsinki and EUR 1,678 elsewhere in the country.

Compared with the previous quarter, prices of dwellings in new blocks of flats and terraced houses fell by 0.6 per cent in the whole country. In Greater Helsinki, prices went up by 1.2 per cent, while in the rest of Finland they went down by 1.6 per cent.

Compared with the same period in 2013, prices of new units in housing companies rose by 1.4 per cent in the whole country. In Greater Helsinki, prices went up by 4.9 per cent, while in the rest of Finland prices went down by 0.5 per cent. The average price per square metre of new units in housing companies was EUR 3,495 in the whole country, EUR 4,781 in Greater Helsinki and EUR 3,032 in the rest of the country.

According to preliminary data, prices of old dwellings in blocks of flats and terraced houses went down by 0.6 per cent from the previous year in the whole of 2014. In Greater Helsinki, prices went up by 0.2 per cent, while in the rest of the country they went down by 1.3 per cent. In 2014, the average price per square metre was EUR 2,283 in the whole country, EUR 3,578 in Greater Helsinki and EUR 1,698 elsewhere in Finland. Final data on the prices of old dwellings in housing companies in 2014 will be published on 29 April 2015.

In 2014, prices of new dwellings in blocks of flats and terraced houses rose by 1.4 per cent in the whole country. In Greater Helsinki, prices went up by 2.4 per cent and in the rest of the country by 0.8 per cent compared with the previous year. In the whole country, the average price of a new dwelling was EUR 3,475, in Greater Helsinki EUR 4,691 and elsewhere in Finland EUR 3,037.


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 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.