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Rising Helsinki house prices suffered hiccup in May

New house price figures show the cost of non-new-build property in the capital region went down in May, despite an annual trend of rising prices in Greater Helsinki. Homes elsewhere in the country continued to fall in value, however, with prices dropping 3.1 percent in the last year.

Perhe asuntonäytössä
Image: Yle

The price of old apartments and terraced houses fell by an average of 0.7 percent between April and May, new figures show.

Provisional data released by Statistics Finland shows that prices in the capital region were not immune from the monthly decrease, despite an overall trend of rising values in Greater Helsinki.

Prices in the capital of property that is not newly built fell by 0.8 percent between April and May, the figures show, despite an annual price increase of 0.5 percent.

Outside the capital region, prices fell by 0.6 percent in May, and dropped by 3.1 percent overall compared to the year previously.

Statistics Finland’s new data puts the average price per square metre of old properties at 3,560 euros in the capital region, and 1,685 elsewhere in the country. That makes an average property price of 2,213 euros per square metre across Finland.

The statistics are based on analysis of 40 percent of total house sales for the month of May 2014.

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