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When you sell your Hitas home, you have two options to define the selling price of the home: you can use the fixed maximum price or the valid debt-free limit price per square metre.
The fixed maximum price refers to the maximum price set for each Hitas home, which must not be exceeded. For this, you will need to request a fixed maximum price calculation from Housing Services. You will receive the calculation within one week of the application.
Alternatively, you can calculate the sales price using the valid limit price per square metre, so that you do not need to apply for confirmation of the maximum price.
Hitas housing can only be sold to a natural person, and not, for example, to a company.
Sale of Hitas housing at the fixed maximum price
Apply for confirmation of the maximum sale price of the home by submitting the property manager's certificate or a Hitas maximum price confirmation form to Housing Services.
If improvements have been made to your Hitas home or renovations have been made to the housing company and they have already been registered in the Hitas register, you can apply for a maximum price calculation based on the property manager's certificate.
If improvements have been made but have not yet been reported, use the Hitas maximum price confirmation form.
The property manager will prepare the property manager's certificate and/or Hitas maximum price confirmation form.
The maximum price calculation is valid for three months from the date of the calculation. You can renew the calculation by e-mail (firstname.lastname@example.org) or by telephone (+358 9 310 13033, Mon-Thu 9-11).
You will receive the maximum price calculation within one week of the application.
The maximum price calculation is normally valid for three months. If the maximum price of the apartment has been fixed at the limit price per square metre, the calculation is valid for 1 - 4 months.
Selling a Hitas home at the limit price
You can also sell your Hitas home at the current limit price per square metre. In many Helsinki postal code areas the limit price is higher than the market price of the apartments in the area. When using the limit price, additional and alteration work during construction or improvements to the home and the housing company are not considered in the maximum price.
The limit price is the average of the average prices per square metre of the apartments of all Hitas-regulated companies. The limit price is calculated four times a year (at the beginning of November, February, May and August) in connection with index adjustments.
If you want to use the limit price for the sale of your home, you can calculate the maximum price of your home yourself according to the example below.
Frequently asked questions
You can obtain an estimate of the price of your own apartment by calling the Hitas customer service on +358 9 310 13033 (Mon–Thu 9:00–11:00) or by sending an e-mail to email@example.com(Link opens default mail program). You can ask for an estimate of the price of the apartment owned by the next of kin or others by a power of attorney or commission agreement. The price estimate does not take into account improvements to the company or the apartment and is not an official maximum price calculation.
Thirty years after the completion of a Hitas company, it may be exempted from price regulation. In this case, the price level of the company and the average price per square metre in the same postal code area are compared with each other, and if the calculated average price of the company or the possibly applicable limit price exceeds the price per square metre of all homes in the same postal code area, the Hitas company will be exempt from price regulation. In this situation, there will be no changes to the land lease.
Companies whose average price per square metre or limit price is lower than the price per square metre of all homes in the same postal code area may choose to apply for exemption. In connection with the application, the plots unit will review the company’s land lease amount, and the increase may be up to 30%. Information about a possible exemption will come to the companies by letter.
In companies that are completed after 2011, the Hitas restrictions will expire 30 years after completion. In this case, the land lease amount will be increased to the same level as the unregulated land lease.
No, you cannot, because the sale price must not exceed the Hitas maximum sale price. The purpose of the Hitas system is to retain the price advantage of the Hitas home in the resale as well.
The payment of an ‘entry fee’ related to the deal, the sale of the overpriced moveable property in connection with the sale of the apartment, or letting the seller live for free until the transfer of control to the buyer are contrary to the Hitas system.
From time to time, Housing Services receive reports from prospective buyers who suspect fraud in a Hitas home deal. On the basis of these reports, the city will investigate both the seller’s and the buyer’s share of the deal. If the fraudulent deal is not cancelled, the city may exercise its statutory redemption right.
The city always has the right of redemption in Hitas home deals based on the Articles of Association. The right of redemption may be exercised if fraud is detected in the deal.
The market price and construction cost index are used in the calculation of the maximum prices of Hitas apartments. Statistics Finland’s price index of old dwellings in housing companies (market price index) is updated four times a year. Changes in the housing market are reflected in the index so that when apartment prices rise, the market price index also rises. Similarly, if apartment prices fall, the index also falls.
In turn, changes in construction costs affect the construction cost index, which is updated monthly.
In apartments in housing companies completed before 2011, the improvement of the apartment or improvements made at the same time whose total costs exceed the €100/m² deductible will be taken into account in the calculation of the maximum price for ten years after the date of completion of the improvement. The share of improvements exceeding the excess is reduced on a monthly basis by straight-line depreciation, so that after ten years, the improvements will no longer be taken into account in the maximum price of the apartment.
In housing companies completed since 2011, apartment-specific improvements are not taken into account in the calculation of the maximum price.
Modifications and additional work ordered from the developer during the construction period are added to the original acquisition value of the apartment without an excess before the index adjustment if the owner of the apartment presents a modification order and receipts for the payment of the modification work.
The excess for improvements completed before 2010 is €150/m²/housing company’s living area. The share of the apartment is calculated from the value of company-specific improvements. The share of the improvements exceeding the excess is reduced on a monthly basis by straight-line depreciation, so that after 15 years, the improvements will no longer be taken into account in the maximum price of the apartment.
The excess for improvements completed since 2010 is EUR 30/m²/housing company’s living area. The value exceeding the excess is adjusted by means of an index when the improvement has been completed. The share of the apartment is calculated from the value of company-specific improvements. Improvements completed after 2010 have no excess, which means that they are always taken into account when calculating the maximum price of the apartment.
The apartment-specific share of the construction costs of lifts and the costs of major construction defects are added to the maximum price of the apartment without an excess from the completion of the measure. The value of the improvement is adjusted with an index when the improvement has been completed.