Statistics: Real estate purchases decreased from the year before

The National Land Survey of Finland compiled the real estate prices and number of purchases of 2018.

Holiday house with a shoreline
During this decade, the median price of holiday houses with a shoreline has dropped from 110,000 euros to 90,000 euros in areas covered by a detailed shore plan.
Photo:
Julia Hautojärvi

The number of real estate purchases in 2018 was 62,200. This is approx. 1 percent fewer than in 2017, when there was a clear change upwards after the decrease that continued throughout this decade, says Head of Registers Taisto Toppinen, who is responsible for maintaining the Official purchase price register at the National Land Survey.

The data derive from the National Land Survey's statistics on property purchases, which is now a web service open for all at khr.maanmittauslaitos.fi. The data is updated from the Official purchase price register maintained by The National Land Survey to the web service every month. You can study the statistics on purchase prices in tables according to time of purchase, location and purpose.

Single-family houses expensive in large cities

The most expensive single-family houses of Finland are located in Espoo, where the median price of all property purchases during last year was 470,000 euros (1 % less than the year before). Last year, the median price for a single-family house was 374,000 euros (-1%) in Helsinki, 345,000 euros (+10%) in Vantaa, 279,000 euros (+4%) in Tampere, 232,000 euros (-1%) in Turku, 188,000 euros (+2%) in Oulu and 191,000 euros (+13%) in Kuopio.

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.

The decrease in prices of holiday houses with a shoreline continued with the exception of seaside areas in the south

"During this decade, the median price of holiday houses with a shoreline has dropped from 110,000 euros to 90,000 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 187,000 euros. This is an increase of 8 percent compared to the year before.

The trend was the same also in Varsinais-Suomi, where the median price of a holiday house was 145,000 euros, i.e. 4 percent higher than the year before.

The number of holiday house purchases has increased in a few years from approx. 3,000 purchases per year to approx. 3,500 purchases per year in entire Finland.

Purchases of arable land in Southern and Western Finland increased median price

The number of purchases of parcels of arable land exceeding 2 hectares has remained stable for the last four years, approx. 570 purchases per year.

The median price of arable land in the entire country was 8,800 euros per hectare in 2018. The median price increased by 5 percent in comparison with the year 2017. The change can partly be explained by an increase in sales in Southern and Western Finland and respectively by a decrease in Eastern and Northern Finland. Moreover, the increase in the median price shows a slight increase in sales of arable land in the more expensive areas of Southern and Western Finland.

The most expensive arable land was located in Varsinais-Suomi, where the median price was 11,000 euros per hectare. The cheapest arable land was located in Lapland, where the median price was 3,200 euros per hectare. Only 4 representative purchases of arable land were made in Lapland last year.

Sales of forest land picked up and forest became more expensive last year

The number of forest estate purchases (more than 2 hectares) increased by 4 percent last year compared to the year 2017, in total more than 3,800 sales of forest land were made. The median price of the purchases was 2,870 euros per hectare. The median price increased by 4 percent in comparison with the year 2017.

"A part of the change can be explained by higher prices, but another part is due to the higher relative share of purchases in the southern regions of Finland, where forest land is more expensive," says Chief Expert Esa Ärölä, who analysed the purchases of arable and forest land.

The most expensive forest land was located in Tavastia Proper, where the median price was 5,100 euros per hectare, and the cheapest in Lapland, 890 euros per hectare.

All prices mentioned in the text are median prices.

Study the statistics on the web

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