Prices of dwellings 

Updated: 28.1.2014 - Next update: 28.4.2014
   
 
 
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Prices of dwellings in housing companies in the fourth quarter

In the fourth quarter of 2013, prices of old dwellings fell in the whole country by 0.1 per cent from the previous quarter. In Greater Helsinki, prices went down by 0.3 per cent, while in the rest of Finland they went up by 0.1 per cent. Compared with the corresponding period of the previous year, prices rose by 1.4 per cent in the whole country. Prices went up by 1.9 per cent in Greater Helsinki and by 1.1 per cent elsewhere in Finland.

In October-December, the average price per square metre of an old dwelling in a housing company was EUR 2,261 in the whole country, EUR 3,549 in Greater Helsinki and EUR 1,680 elsewhere in the country.

Compared with the previous quarter, prices of dwellings in new blocks of flats and terraced houses fell by 1.5 per cent in the whole country. Prices went down by 2.6 per cent in Greater Helsinki and by 0.9 per cent in the rest of Finland.

Compared with the same period in 2012, prices of new units in housing companies fell by 0.7 per cent in the whole country. In Greater Helsinki, prices went down by 3.4 per cent, while in the rest of Finland they went up by 0.8 per cent. The average price per square metre of new units in housing companies was EUR 3,385 in the whole country, EUR 4,607 in Greater Helsinki and EUR 2,946 in the rest of the country.

According to preliminary data, prices of old dwellings in blocks of flats and terraced houses went up by 1.6 per cent from the previous year in the whole of 2013. In Greater Helsinki, prices went up by 2.5 per cent and in the rest of the country by 0.8 per cent. In 2013, the average price per square metre was EUR 2,259 in the whole country, EUR 3,527 in Greater Helsinki and EUR 1,688 elsewhere in Finland. Final data on the prices of old dwellings in housing companies in 2013 will be published on 28 April 2014.

In 2013, prices of new dwellings in blocks of flats and terraced houses rose by 1.8 per cent. In Greater Helsinki, prices went up by 1.7 per cent and in the rest of the country by 1.8 per cent compared with the previous year. In the whole country, the average price of a new dwelling was EUR 3,395, in Greater Helsinki EUR 4,601 and elsewhere in Finland EUR 2,962.

The results of the monthly and quarterly statistics show deviations because the monthly statistics are produced by a less detailed regional division and have a different weight structure than the quarterly statistics. The base year of the quarterly index is 2005.


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.