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How have apartment prices changed in Finland? It depends on the region

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The Statistical Office of Finland has released preliminary data on the dynamics of prices for old dwellings in August 2024. The report has identified cities where prices have increased the most and those where significant price decreases were observed.

What has happened

According to Statistics Finland’s preliminary data, in August 2024, the prices of old dwellings in housing companies of the country have decreased by 1.5% year-on-year. However, compared to the previous month, the prices have increased by 1.3%.

Among the larger cities, the annual price increases were recorded in Tampere (+3.1%) and Espoo (+1.4%). At the same time, the largest decreases were observed in Helsinki (-5.6%) and Vantaa (-5.0%).

Key facts

  • Prices for older apartments in the six largest cities have decreased by 2.9% compared to the previous year.
  • Outside the major cities, prices have increased by 0.9%.
  • In Greater Helsinki, prices for such properties have declined by 4.0% compared to last year but have risen by 0.6% compared to the previous month.
  • Nationwide, prices of dwellings in blocks of flats have decreased by 2.9% compared with one year ago. Prices of dwellings in terraced houses have increased by 2%.
  • In August, real estate agents completed 15% more sales of older housing in apartment buildings and townhouses than the year before.
Please read also: Analysts have revised the forecast for the house price change in Finland

Source: Statistics Finland

Photo by Aleksi Partanen on Unsplash

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