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Recent data from Statistics Finland indicates a notable increase in housing sales, suggesting a potential revival in Finland’s housing market. However, property prices have yet to follow suit, according to Veera Holappa, Senior Economist at Pellervo Economic Research (PTT).
In September, prices for older apartments dropped by 1.2% nationwide compared to last year and 0.6% from the previous month.
Turku and Tampere saw the largest year-on-year price declines, with drops of 5.0% and 4.4%, respectively. While prices in the Helsinki metropolitan area fell by 2.2% from the previous year, they rose by 1% from August.
The number of property transactions for older apartments and row houses rose by 19% in September compared to the same time last year, signaling a positive shift in buyer activity.
“The increase in transaction volumes is a positive sign, but prices are still showing volatility,” said Holappa. “The large cities that previously seemed to stabilize are now seeing some pullback. We’re in a period where prices are zigzagging from month to month. Sellers may be more willing to negotiate, which could be helping to drive the increase in sales.”
As Finland’s housing market begins to pick up in sales volume, experts are cautiously watching for signs of price stabilization that could confirm a sustained market recovery.
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Source: www.helsinkitimes.fi
