Housing prices keep on rising

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The brisk increase in prices of dwellings continued in the first quarter of 2007. According to a Statistics Finland report made public on Monday, the prices of dwellings in old apartment blocks rose by 7.7 percent in the capital area and by five percent in the rest of the country, compared with one year ago. On average, the prices of residences in January-March 2007 were 6.4 percent higher than during the first quarter of 2006.
      The average unencumbered selling price of dwellings in old blocks of flats in the Greater Helsinki Area stood at EUR 2,906 per square metre, against the national average of EUR 1,422.
     
In the most expensive comparison area of Helsinki, the price per square metre reached EUR 4,393 in Q1/2007. The most affordable flats – EUR 979 per square metre – were on offer in the city of Kouvola.
      In Espoo, the average price for a dwelling in an old block of flats rose to EUR 2,408 per square metre, and in Vantaa to EUR 1,973. In Tampere, Turku, and Jyväskylä the corresponding prices reached EUR 1,880, EUR 1,687, and EUR 1,640 respectively.
     
Kouvola was among the five or six locations that saw prices falling, by 2.3 per cent from the previous quarter. Apartment prices had increased here by only 0.2% year-on-year.
      The largest decline relative to the beginning of 2006 was in Oulu, where prices fell by 2.4 per cent, and they were also down over 2 per cent from the previous quarter.


Links:
  Statistics Finland press release

Helsingin Sanomat