The prices of new residential units are on the decline in Finland, according to Statistics Finland.
The prices of new residential units in blocks of flats and terraced houses fell by 0.7 per cent from the previous quarter between January and March. The prices went down by 0.2 per cent in the capital region and by 0.9 per cent in other parts of the country.
In comparison to the corresponding period last year, the prices dropped by as much as 6.7 per cent in Greater Helsinki and by 2.4 per cent in the rest of Finland, translating to a nationwide decrease of roughly four per cent.
Juhana Brotherus, the chief economist at the Mortgage Society of Finland (Hypo), reminded that one should not draw too far-reaching conclusions based on data from the first few months of the year, as the prices of new residential units and the number of transactions tend to vary considerably on a month-to-month basis.
“The prices of old dwellings are a more reliably indicator of the development: in the capital region, the prices are up by 2.1 per cent,” tweeted Brotherus.
Statistics Finland on Wednesday revealed that the average price of a new dwelling was 4,691 euros per square metre in the capital region and 3,270 euros per square metre in other parts of Finland.
Aleksi Teivainen – HT
Photo: Heikki Saukkomaa – Lehtikuva
Source: Uusi Suomi