Housing price index

Last updated 06/07/2020 - 11:12

Housing prices in the Helsinki Metropolitan Area and elsewhere in Finland keep diverging

In the Helsinki Metropolitan Area, the prices of second-hand flats increased by 4 per cent in the first quarter of the year compared to the situation in the previous year. Compared to 2010, housing prices in the Helsinki Metropolitan Area have climbed 28.5 per cent (the index was 128.5 at the beginning of 2020). Outside of the Helsinki Metropolitan Area, the price per square metre of second-hand flats has remained practically unchanged compared to last year as well as compared to 2010. The indexed variation of price per square metre in other parts of Finland has stayed in the range 98–105 (where 2010=100) for the entire 10-year period. At the beginning of 2020 it was 101.6. This shows that there is a considerable difference in the long-term price development between the Helsinki Metropolitan Area and the rest of Finland.

Differences in flat price development also within the Helsinki Metropolitan Area

There are considerable differences in flat price development also within the Helsinki Metropolitan Area. For example, in Helsinki the increase in prices is focused in central Helsinki, where prices have risen over 4 per cent in a year. At the same time, prices in the Helsinki suburbs did not rise at all during the year. Housing prices increased by six per cent in Espoo and approximately 3 per cent in Vantaa. In Espoo, the long-term price increase is mostly centred on the last year. During the ten-year period under review, housing prices have risen 34 per cent in Helsinki, 19 per cent in Espoo and approximately four per cent in Vantaa. In the KUUMA municipalities the trend of housing prices has been declining, even though the latest changes indicate prices increasing.