“This is 5 percent more than in 2016, which means that there was a clear change in comparison to the decreasing trend that has continued throughout this decade,” says Head of Registers Taisto Toppinen, who is responsible for maintaining the Official purchase price register.
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 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 475,000 euros. The increase from last year was 1 percent.
During the first seven months of this year, the median price for a single-family house was 376,000 euros (–7%) in Helsinki, 315,000 euros (–2%) in Vantaa, 268,000 euros (-0%) in Tampere, 235,000 euros (+0%) in Turku, 185,000 euros (+3%) in Oulu and 169,000 euros in Kuopio.
The National Land Survey's purchase price statistics covers real property only and thus neither shares in a housing company nor purchases 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 93,000 euros in areas covered by a detailed shore plan," says 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 173,000 euros. This is a drop of 4 percent compared to 2016. The trend was the same also in Varsinais-Suomi, where the median price of a holiday house was 140,000 euros, i.e. 10 percent lower than in 2016.
Despite the price development, the number of purchases has been fairly steady, approx. 3,000 purchases per year in the whole of Finland.
Variation in arable land prices
The number of purchases of parcels of arable land exceeding 2 hectares has remained stable for the last three years, approx. 580 purchases per year. The prices of arable land have been lower in Eastern and Northern Finland than in Western and Southern Finland. The median prices in the entire country clearly decreased in 2017, which is mainly explained by the fact that more purchases were completed in Northern and Eastern Finland.
The median price of arable land in the entire country was 8,300 euros per hectare in 2017. The price decreased by almost 10 percent in comparison with 2016. The most expensive arable land was located in Varsinais-Suomi and Ostrobothnia, where the median price was 12,200 euros per hectare.
More forest land purchases in Southern Finland
The number of forest estate purchases in 2017 was 3,700, which is 5 percent more than in 2016. The median price of the purchases was 2,750 euros per hectare. The median price increased by 9 percent in comparison with the year 2016.
"A part of the change can be explained by higher prices, but another part is due to the higher number of purchases in the southern and central parts of the country and the lower number of purchases in the regions of Kainuu and Northern Ostrobothnia," says Chief Expert Esa Ärölä, who analysed the purchases of arable and forest land.
The most expensive forest land was located in the regions of Päijät-Häme and Varsinais-Suomi, where the median price was 4,700 euros per hectare, and the cheapest in Lapland, 920 euros per hectare.
Purchases by Russians plummeted
Last year, only 133 properties were bought by Russians. The maximum number of purchases by Russians was 907 properties in 2008, after which the number has decreased steadily. In contrast, the number of purchases by Estonians is steadily increasing.
All prices mentioned in the text are median prices.
Statistical information about property purchases
Head of Registers Taisto Toppinen, +358 40 017 5387
Chief Expert Esa Ärölä, +358 40 180 1301
Queries about single property purchases
The National Land Survey's customer service, +358 29 530 1110 (Mon–Fri 9:00–16:15)
The e-mail addresses are of the format firstname.lastname@example.org