Downward trend in housing prices in Finland

Between January and March 2024, prices for older apartments in the Nordic country fell by 1.5% quarterly and by 5.1% year-on-year, according to preliminary data from Statistics Finland. They calculated in euros and did not take inflation into account.

In the first quarter of 2024, prices for older apartments fell 5.9% in major cities and 3.6% in the rest of the country compared with a year earlier.

Of the major cities, prices fell the most compared to the previous year in Vantaa (-8.1%) and Helsinki (-6.8%).

Among regional centres, prices for older apartments increased by only 0.2% in Seinäjoki and 1.2% in Rovaniemi.

Over the year, prices have fallen by about 13% in Kokkola, by almost 10% in Vaasa, by 9% in Kouvola and by almost 9% in Kajaani.

In the first quarter of 2024, prices for new apartments increased by 0.2% compared to the same period last year.

Prices for new housing in Greater Helsinki fell by 5.6%. In the rest of the country, new home prices were up 5.3% from last year. Housing prices in townhouses rose by 4.5%, and in apartment buildings they decreased by 1.0% nationwide.