Old single-family house prices soar in Helsinki and fall in the rest of Finland

Prices of old single-family houses fell in the first quarter of 2020 by an average of 1.1% from the previous year in the whole country, according to Statistics Finland.

However, there is an exception to this drop in prices, and it is in the capital city region. In Greater Helsinki, prices rose by 16% while in the rest of the country they fell by 2.9%.

Compared with the previous quarter, prices of old single-family houses increased by 0.6%.

Source: Statistics Finland.

In the whole country, the average price per square metre of old single-family houses was € 1,586 in the first quarter of 2020. But again, there are huge regional variations. In Greater Helsinki, the average price per square metre of single-family houses was more than double that, € 3,396. In the rest of the country, the average price per square metre was € 1,453.

House plots

In the first quarter of 2020, prices of single-family house plots increased by 4.7% in the whole country from the year before. From the previous quarter, prices of plots increased by 6.8%. The average price per square metre for a single-family house plot was € 25 and the average size of sold plots was 2,511 square metres.

In the first quarter of the current year, over 8% more transactions of old single-family houses were made in the whole country than in the corresponding period of last year. In Greater Helsinki nearly 13% fewer transactions were made, in the rest of Finland 10% more.

These data derive from Statistics Finland’s Index of real estate prices, which is compiled by utilizing data from the real estate transaction register of the National Land Survey of Finland. The statistics cover single-family houses located on own plot.