Prices of used apartment shares fell 2.2 percent nationwide in September compared with a year earlier, according to preliminary data from Statistics Finland. Sales through estate agents fell 12.8 percent over the same period, with more than a tenth fewer used apartment and row house transactions in the third quarter as a whole, according to Yle, kauppalehti.fi and Keskisuomalainen.
The monthly picture was brighter. Prices rose 1 percent from August, the first time this year that prices climbed at least one percent from the previous month both nationwide and in the large cities. "Compared with a year ago, prices in the large cities fell only 1.8 percent in September, the least during the current year," said Elina Peltoniemi, senior actuary at Statistics Finland, in a statement.
Regional gaps widened. Oulu stood out with annual growth of 2.0 percent, while Espoo fell 4.4 percent and Turku 3.6 percent. Measured by quarter, only Helsinki held its price level from the previous quarter.
Teemu Lyytikäinen, research director at the VATT Institute for Economic Research, linked the stall to higher interest rates. The 12-month Euribor stood near 2.2 percent a year ago and is now 3.25 percent. "On the housing market, typically when prices fall, transaction volumes decrease, and then as prices go up, volumes increase," he said.
He expects demand to pick up with a lag once growth feeds through to employment and incomes.
Juhana Siljander, team head at the Bank of Finland, said the fundamentals are favourable. "Housing is really cheap relative to income level compared to what it has historically been, and there are really many different options for buyers on the market," he said. Pellervo Economic Research noted prices in Tampere and Helsinki have risen for several months.
"One good month doesn't yet mean a permanent turnaround in the housing market, but it can give a cautious promise of better," said senior economist Veera Holappa.
Earlier coverage
- Used Apartment Prices Rise 1% as Decline Slows (28 Oct 2026)