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Marked increase in sales and prices of detached homes in Q1

The biggest market price increase was seen in municipalities with 20,000 to 59,999 residents.

Pientalo, josta näkyy osa kattoa.
Nearly 18 percent more old detached houses were sold during the first quarter than the same time last year. Image: Mostphotos

The prices of old, single-family detached homes grew by 7.6 percent year-on-year in Finland during the first quarter of this year, according to Statistics Finland.

Sales volumes of these types of houses during January-March also increased by 2.7 percent compared to the previous quarter.

Nearly 18 percent more old detached houses were sold during the first quarter than the same time last year, with as many as 45 percent more home sales in greater Helsinki and just over 16 percent more across the rest of the country.

The state number crunching agency said the data was based on its real estate price index, using figures from the National Land Survey of Finland's real estate transaction listings.

Price gains

Prices rose most (by 6.6 percent) in municipalities with more than 100,000 inhabitants. But the biggest market price increase (8.5 percent) was seen in municipalities with 20,000 to 59,999 residents. A similar price increase was also seen in municipalities with fewer than 20,000 inhabitants, according to Statistics Finland.

The weakest increase in market prices of old detached houses was recorded in municipalities with populations of 60,000 to 100,000 where prices rose by 5.3 percent.

The average square metre price of detached houses in the greater Helsinki area reached 3,555 euros per square metre. In other parts of the country the average square metre price was 1,606 euros.

Overall across Finland the prices of detached house plots rose by 1.6 percent year-on-year in Q1. But compared to the final quarter of last year, plot prices fell by nearly four percent, according to the statistics agency.

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