Real estate purchases slowly improving

Real estate purchases are expected to increase by approx. three per cent this year, predicts Taisto Toppinen who is responsible for the Official Purchase Price Register at the National Land Survey.

The number of real estate purchases in 2016 was 59,500. This year, 35,600 purchases have been completed during the first seven months.

The data derive from the National Land Survey's statistical information on real estate transactions, which is updated every month. In the service, you can study the statistics on purchase prices in tables according to time of purchase, location and purpose.

The rise of single-family house prices in 2016 levelled off in several cities

The most expensive single-family houses of Finland are located in Espoo, where the median price of all property purchases during the first seven months of this year was 479,000 euros (2 % more than the year before). During the first seven months of this year, the median price for a single-family house was 370,000 euros (–9%) in Helsinki, 306,000 euros (–4%) in Vantaa, 270,000 euros (+0%) in Tampere, 240,000 euros (+3%) in Turku and 189,000 euros (+5%) in Oulu.

The National Land Survey's purchase price statistics covers real property only and thus neither shares in a housing company nor sales of single-family houses on rented plots are included.

Prices of holiday houses with a shoreline continued to drop

− During this decade, the median price of holiday houses with a shoreline has dropped from 110,000 euros to 94,500 euros in areas covered by a detailed shore plan, says Taisto Toppinen.

The highest median prices were found in the region of Uusimaa, where the median price of a holiday house with private shore in a planned area was 163,000 euros. This is a drop of 10 per cent compared to last year.

The trend was the same also in Varsinais-Suomi, where the median price of a holiday house was 135,000 euros, i.e. 13 per cent lower than last year.

Despite the price development, the number of purchases has been fairly steady, approx. 3,000 purchases per year in the whole of Finland.

Sales of arable land and forest land increased in the whole country

During the first half of this year, 370 purchases of arable land were made. This is 17 per cent more than during the same period the year before.

During the first half of 2017, the median price of arable land in the entire country was 8,500 euros per hectare, whereas the median price according to the purchase price statistics for the entire year of 2016 was 9,150 euros per hectare. The prices have dropped by 8 per cent. The change can mainly be explained by a stronger increase in sales in eastern and central Finland compared to western and southern Finland. The most expensive arable land was located in Varsinais-Suomi, where the median price was 12,800 euros per hectare.

During the first half of this year, the number of purchases of forest land increased by 10 per cent in comparison with the first half of 2016 and amounted to 1,780. The median price of the purchases was 2,730 euros per hectare during the first half of the year. The median price rose by 8 per cent in comparison with the figure for the entire 2016.

− The change can be explained by the centralisation of the number of purchases to southernmost and central Finland, states Esa Ärölä from the National Land Survey who made the analysis of the purchases of arable and forest land.

The most expensive forest land was located in Uusimaa and Päijät-Häme, where the median price was 4,200 euros per hectare, and the cheapest in Lapland, 800 euros per hectare.

All prices mentioned in the text are median prices.

More information

Statistics service khr.maanmittauslaitos.fi

Statistical information about property purchases

  • Head of Registers Taisto Toppinen, phone +358 40 017 5387
  • Chief Expert Esa Ärölä, phone +358 40 180 1301

Queries about single property purchases

  • The National Land Survey's customer service, phone +358 29 530 1110 (Mon–Fri 9:00–16:15)

The e-mail addresses are of the form firstname.lastname@nls.fi