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Real estate market recovers after spring slump

Prices rose slightly in the Greater Helsinki region.

Kiinteistövälittäjän esittelykyltti asunnon edessä.
The number of real estate transactions of old homes in housing companies in June rose by almost 30 per cent since May, according to Statistics Finland’s preliminary data. Image: Henrietta Hassinen / Yle

The number of real estate transactions of old homes in housing companies was the same in June 2020 as it was during the corresponding period last year, but almost 30 per cent more than in May, according to Statistics Finland’s preliminary data.

The prices of old dwellings in housing companies rose by just under one per cent in Greater Helsinki region compared to June 2019. Elsewhere in the country, prices fell by four per cent.

Prices fell the most in Eastern Finland and the commuter-belt towns around the Helsinki region, compared to the corresponding period last year,

Real estate prices however remained unchanged throughout the country compared to May.

According to the statistics, compared to 2019, prices rose in Turku, Vantaa, Helsinki and Oulu and fell slightly in Espoo and Tampere.

The average price per square metre of a one-bedroom dwelling in an old block of flats was 7,735 euros in the centre of Helsinki and 3,452 euros in the centre of Turku in the second quarter of the year.

Prices of new homes rise

Meanwhile, prices for new accommodation in housing companies rose by around two per cent in Greater Helsinki and by five per cent elsewhere in Finland in the second quarter of 2020 compared to the same period last year.

The number of new homes sold decreased in the second quarter by over 30 per cent compared to the same period the previous year.

As of the second quarter of the year, the average price per square metre for a new dwelling in a block of flats located on its own plot was 7,581 euros in Helsinki and 5,093 euros in Turku.

Yle News' podcast All Points North has previously explored Finland's housing market upheaval and answered questions on how young people can become homeowners.

You can listen to the full podcast via the embedded player here, Yle Areena, Spotify, Apple Podcasts or your usual podcast player using the RSS feed. Be sure to subscribe to the show wherever you get your podcasts and sign up for the APN newsletter.

Audio: Yle News

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