Prices of old dwellings slightly fall in Q1

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

Preliminary data indicate that of large towns, prices of old dwellings in housing companies rose in Turku by 1.4 per cent from the previous quarter. Compared with the corresponding quarter of 2018, prices went up by 8.5 per cent. Prices of old dwellings in housing companies have risen in Turku compared to 2015 more than in Helsinki. The price rise in Helsinki has evened out during the past few quarters. In the first quarter, the price for a square metre of a one-bedroom dwelling in a block of flats in the most expensive area in Helsinki was EUR 7,327 and in the most expensive area in Turku EUR 3,326.

Preliminary data on price changes in Turku in the latest quarter are based on 611 transactions and in Helsinki on 2,013 transactions. The preliminary data comprise, on average, two-thirds of completed transactions in old dwellings in blocks of flats and terraced houses.

Compared with the same period in 2018, prices of new dwellings rose by 2.7 per cent in the whole country. Prices rose by 6.7 per cent in Greater Helsinki and by half a per cent elsewhere in Finland. Prices of new dwellings in blocks of flats and terraced houses fell by 3.0 per cent in the whole country compared with the previous quarter. Prices went down by 2.4 per cent in Greater Helsinki and by 3.4 per cent in the rest of Finland.

From the previous quarter, prices fell slightly in Greater Helsinki and elsewhere in Finland.