Saturday 10/23/21
HOUSING

Sharp increase in prices and sales of detached single family homes

In the first quarter of the current year, almost 18% more transactions of existing single-family houses were made than in the corresponding period of last year.
Old houses in the Metropolitan area. Photo: Foreigner.fi
Old houses in the Greater Helsinki area. Photo: Foreigner.fi.

Prices of existing single-family houses rose by 7.6% year-on-year in Finland during the first quarter of 2021, according to Statistics Finland. Compared with the previous quarter, prices of old single-family houses increased by 2.7%.

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

In municipalities with more than 100,000 inhabitants prices rose by 6.6% from the year before. In municipalities with 60,000 to 100,000 inhabitants prices went up by 5.3%, in municipalities with 20,000 to 59,999 inhabitants by 8.5% and in municipalities with fewer than 20,000 inhabitants by 8.2%.

In the whole country, the average price per square metre of old single-family houses was 1,751 euros in the first quarter of 2021. In Greater Helsinki, the average price per square metre of single-family houses was 3,555 euros. In the rest of the country, the average price per square metre was 1,606 euros.

In the first quarter of 2021, prices of detached house plots increased by 1.6% in the whole country from the year before. From the previous quarter, prices of plots fell by 3.8%. The average price per square metre for a detached house plot was 25.1 euros and the average size of sold plots was 2,707 square metres.

18% more transactions

In the first quarter of the current year, almost 18% more transactions of old single-family houses were made than in the corresponding period of last year. In Greater Helsinki around 45% more transactions were made and in the rest of Finland slightly over 16% more.

In the first quarter of 2021, around 1,130 transactions of detached house plots were made, which is 44% more than in the corresponding period of the previous year.

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