Orava 20 is a market-value-based house price index that describes the price development of old apartments in block of flats in the 20 largest Finnish cities. The index is based on the debt free prices per square meter of apartment sales advertisements valid on the Oikotie Apartments -portal (oikotie.fi). The index is calculated once per hour and aims to give the most up-to-date picture of the development of apartment prices in Finland.
Orava 20 consists of 50 segments formed by the city and apartment types: from the ten largest cities 1-, 2- and 3-room apartment segments are included, and from the next 10 largest cities 2- and 3-room apartment segments are included. For each segment, the highest and lowest 10% of the price observations are removed from the material and the average of the remaining observations is calculated. The score for the Orava 20 index is the market value-weighted average of the points in the segments described above.
At the moment, index calculation is in test use.