Real estate purchase price statistics: Sales of single-family houses increased in the beginning of the year

The number of purchases of single-family houses increased by 8 per cent compared to the first half of the previous year, but the sales of unbuilt single-family house plots are stalling. The National Land Survey compiled the real estate purchases of the first half of the year to statistics on the basis of the purchase price register.

During the period between 1 January and 30 June, a total of 28 400 sales of property were made, which is 2 per cent less than during the same period the year before. Now, the money spent was 4.3 billion euros, which is 9 per cent more than last year.

"The number of properties bought by Russians will stay a little over a hundred, which is 15 per cent of the record number in 2008", says Juhani Väänänen, expert in property valuation at the National Land Survey, who compiled the statistics.

Sales of single-family house plots static

The number of purchased plots for detached houses in the whole country during the first half of 2015 was 1 900, which is 9 per cent less than during the same period in 2014.

Sales have slowed down since 2006 when 5 900 plots were sold in six months", says Juhani Väänänen.

The number of purchased detached houses was 6 700 in total during the first half of 2015. The number of purchases increased by 8 per cent compared to the same period the previous year. In planned areas the prices have increased by 0.6 per cent this year and in sparsely populated areas they have decreased by 2.4 per cent.

The median price of a single-family house was 454 000 euros in planned areas in Espoo, which is 5 per cent more compared to the beginning of last year. In Helsinki a single-family house cost 378 000 euros (-1%) and in Vantaa 342 000 euros (+14%).

"The increase in prices in Vantaa can partly be explained by houses sold in the Housing Fair area", believes Väänänen.

Prices of summer cottages in planned areas on the rise

The number of property conveyances that concern holiday houses totalled 5 300 in the first half of the year, which is 5 per cent less than during the first half of last year.

The price of a holiday house with a shoreline increased by 8 per cent in planned areas (master plan area or detailed shore plan area) during the year, the median price being 117 500 euros. Outside planned areas, the price was 77 500 euros, which is 3 per cent less than the year before.

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 229 000 euros. Holiday houses in sparsely populated areas were also most expensive in Uusimaa, 165 000 euros.

Considering the whole country, the median price of a shore plot in a planned area was 38 000 euros. In sparsely populated areas, the corresponding price was 35 000 euros.

Sales of forest land have stabilised

The median price of forest land in the entire country was 2 700 euros per hectare in the first half of 2015, i.e. 5 per cent higher than the year before. The number of purchases that only consisted of forest land totalled 1 500, i.e. 16 per cent less than last year.

Sales of forest land are most active during the latter half of the year, which means we might this year reach last year's number. During the last few years, forestry companies have sold a lot of large forest areas in North Karelia, North Ostrobothnia and Kainuu.

The price of arable land has remained on last year's level. The median price in the entire country was 8 500 euros per hectare in the beginning of 2015, i.e. one per cent higher than the previous year.

All prices mentioned in the text are median prices. The comparison period used is 1 January–30 June 2014.

Statistics

Real estate purchase price statistics 1 January–30 June 2015

More information

Chief Expert Juhani Väänänen, +358 40 801 1204, firstname.lastname@nls.fi

Chief Expert Esa Ärölä, +358 40 801 1301, firstname.lastname@nls.fi

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