The facade of a block of flats in Meri-Toppila, Oulu, on 22 October 2024. In Oulu, the prices of old dwellings in housing companies fell by only 1.4 per cent during the course of last year, the least out of the six largest cities in Finland, according to Statistics Finland. (Heikki Saukkomaa – Lehtikuva)
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THE DECLINE in Finnish house prices slowed down at the end of last year.
Statistics Finland on Tuesday published data indicating that the prices of old dwellings in housing companies decreased by an average of 0.6 per cent year-on-year in December. The decrease came in at only 0.2 per cent in the capital region and 0.4 per cent in the six largest cities in the country – Espoo, Helsinki, Oulu, Tampere, Turku and Vantaa.
Outside the six cities, the prices dropped by 1.1 per cent from the previous year.
The development of house prices currently varied significantly based on locality: Espoo and Oulu registered respective year-on-year up-ticks of 2.0 and 0.5 per cent, whereas Tampere and Vantaa both saw house prices fall by 1.9 per cent from December 2023.
The number of sales brokered by real estate agencies decreased by 16 per cent from the previous year.
Compared with the previous month, the prices of old dwellings crept up 1.4 per cent in Finland in December. In the capital region, though, the prices rose by only 0.8 per cent.
The negative trend slowing down was evident in all parts of Finland. The prices of old dwellings in housing companies lost an average of 3.3 per cent of their value during the course of 2024. Vantaa and Helsinki registered the most dramatic drops out of the six largest cities, with drops of 5.7 and 4.5 per cent, respectively. In Oulu and Espoo, the prices fell by only 1.4 and 2.4 per cent, respectively.
Rovaniemi, meanwhile, was the only provincial centre to register an increase in the prices of old dwellings – one of 2.2 per cent.
Aleksi Teivainen – HT
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Source: www.helsinkitimes.fi
