Prices of old dwellings raise in major cities in Q3

Prices of old dwellings in housing companies rose in Turku, Tampere and Helsinki in third quarter of 2019 compared to the stipulated period of previous year, according to Statistics Finland.

Prices of old dwellings in housing companies rose by 1.5 per cent in Greater Helsinki compared to the corresponding quarter of last year, while in the rest of Finland they fell slightly.

Compared with the previous quarter, prices fell by 1.0 per cent in Greater Helsinki and remained almost unchanged in the rest of the country.

Compared with 2015, prices of old dwellings in housing companies have risen most in Helsinki, Turku and Tampere.

Price development has been more moderate in Espoo, Vantaa and Oulu.

In the third quarter, the price per square metre of a one-bedroom dwelling in a block of flats in the most expensive area in Helsinki was EUR 7,179 and in the most expensive area in Turku EUR 3,257.

Across the country, prices of dwellings have decreased in recent years, but the considerable differences in price development and price levels regionally and within towns should be noted.

For example, in Pori, prices of old dwellings in housing companies have fallen by almost eight per cent compared to 2015.

In the centre of Pori, prices have fallen by 2.7 per cent, while they have gone down by almost 12 per cent further from the centre. Within Helsinki, for example, the differences in price development are also remarkable.