Price of old dwellings slumps in May

Prices of old dwellings in housing companies rose by 0.5 per cent in Greater Helsinki in May 2019 compared to May 2018 and decreased by 2.5 per cent in the rest of Finland, according to Statistics Finland.

In the whole country, prices went down by one per cent.

Compared with April, prices rose by 0.7 per cent in Greater Helsinki and decreased by 0.9 per cent elsewhere in Finland.

Compared with the corresponding period last year, among large cities, prices rose clearly only in Oulu in May. Prices rose slightly in Helsinki from the corresponding period in 2018. Compared to April, prices increased in Espoo based on preliminary data. Prices have dropped in Turku in recent months and are now at last year's level.

The preliminary data comprise, on average, one half of completed transactions of old dwellings in blocks of flats and terraced houses.

According to the data available to Statistics Finland, 21,813 transactions of old dwellings in housing companies were made in the whole country in January to May, which is 3.8 per cent fewer than that in the corresponding period last year. In Greater Helsinki, the number of transactions is 1.8 per cent lower than last year and in the rest of the country 4.7 per cent lower.