The expected turn: The prices of old shared apartments turned upward

The old ones In October, the prices of shared apartments in the whole country rose by 0.4 percent compared to the previous year, says the Central Statistics Office.

October was the first month since September 2022 when the prices of old shared apartments rose compared to the comparison period of the previous year.

In the six largest cities, the prices of old shared apartments rose by 0.5 percent and outside the big cities by 0.1 percent from the comparison period of the previous year.

From the big ones of the cities, the prices of old share housing decreased from a year ago in Tampere by 1.9 percent and in Helsinki by 0.2 percent.

Of the big cities, the prices of old shared apartments rose the most in Turku and Oulu. Prices in Turku rose by 6.0 percent from the previous year and in Oulu by 2.6 percent compared to the same time last year.

In the capital region, the prices of old shared apartments remained almost at the level of the comparison period. According to Statistics Finland, the increase from the previous year was 0.1 percent.

Compared to the previous month, the prices of old shared apartments fell slightly in Vantaa, but rose in the other cities included in the top six.

At the level of the whole country, the prices of old shared apartments rose by 0.9 percent from September.

In October the statistics also show a pick-up in the sales volume of apartments. According to Statistics Finland, 27 percent more sales of old apartments and townhouses were made through real estate agents in October than a year earlier.

Chief economist at mortgage lender Hypo Juho Keskinen in his comment, he describes the continued pick-up in housing sales as “striking”.

“Although there are plenty of new properties available, buyers who previously ventured into new properties have become security-seeking, which is now reflected in the increase in the sale of old condominiums. Despite the pick-up, the sale of old shared apartments is still around 14 percent slower than at the same time in August–October 2015–2019,” Keskinen writes.