Old dwelling prices rise in Greater Helsinki

Prices of old dwellings in housing companies rose by 5.2 per cent in Greater Helsinki in September and fell by close on one per cent in the rest of the country compared with that in last year, according to the Statistics Finland.

Compared to August, prices rose in the whole country by about one per cent. Based on transactions made through real estate agents, around six per cent more transactions of old dwellings in housing companies were made in September than one year earlier.

According to transactions made through real estate agents, the number of dwelling transactions went down by close on one per cent in Greater Helsinki compared with that in the previous year but rose by over nine per cent in the rest of the country.

The prices rose by more than three per cent in Greater Helsinki in the third quarter of 2020 from that in the corresponding quarter of the year before. Prices decreased by some half a per cent elsewhere in Finland. Compared with the previous quarter, prices rose by around half a per cent in the whole country.

Prices rose most clearly in Helsinki and Tampere compared with that in the corresponding period of last year.

The average price per square metre of a one-bedroom dwelling in an old block of flats was EUR 7,975 in the centre of Helsinki and EUR 3,721 in the centre of Tampere in the third quarter of the year.

Examined by region, prices rose in the third quarter in Ostrobothnia, Uusimaa, Pirkanmaa, and North Ostrobothnia compared with the prices in the corresponding period of last year. Compared with the year before, prices fell most in Päijät-Häme and South Ostrobothnia.

Compared with the corresponding period of the year before, prices of new dwellings in housing companies rose by around two per cent in Greater Helsinki and the rest of Finland in the third quarter of 2020. Compared with the previous quarter, prices of new dwellings went down by around one per cent in Greater Helsinki and rose by half a per cent in the rest of Finland.

Compared with the year before, prices of new dwellings remained unchanged in Espoo and rose in other large towns. The average price per square metre for a new dwelling in a block of flats located on own plot was EUR 7,648 in Helsinki and EUR 5,297 in Turku in the third quarter.