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Helsinki housing prices double that in rest of Finland

The Helsinki area again led the way as real estate prices continued to edge upward last month. Average square-metre prices for flats in the capital region are more than double that in the rest of the country.

Hitas-asuntoja
Even price-regulated Hitas flats like these in Helsinki's Katajanokka district cost far more than those in smaller towns. Image: Yle

Figures released by Statistics Finland on Wednesday showed prices of homes in old apartment buildings and terraced houses nudging up by a national average of 1.3 percent from January to February. But that rise was driven by increases in the greater Helsinki area, where prices went up by 2.2 percent. Elsewhere in Finland prices remained nearly stagnant, edging up just four tenths of a percent.

Nationwide, prices were up by 2.2 percent compared with the same period of 2015. Year-on-year, costs have climbed by 2.7 percent in Helsinki and its surroundings, compared to 1.7 percent in the rest of Finland.

Last month the average buyer of an old dwelling in a housing company in Finland paid 2,282 euros per square metre. The gap between the capital region and the rest of the country was stark though: 3,655 euros in Greater Helsinki versus 1,667 euros anywhere else.

Subsidised rents up 3.5%

The data issued by the central statistics office are preliminary, based on about 40 percent of all real estate deals completed during the month, so they may be slightly adjusted when all the figures become available.

Statistics Finland earlier reported that rents rose by three percent year-on-year during the last quarter of 2015. Rents in state-subsidised dwellings rose the most, by 3.5 percent compared to 2.7 non-subsidised rentals.

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