Finland's housing market shows a clear divide between new and older apartments. Older units sell much better than newly built ones according to recent statistics.
An expert calls new apartment buildings "doped" with inflated prices. They say the current hot property is a 1990s or early 2000s three-room apartment that needs no renovations.
Used apartment sales grew 15 percent in Finland during the first three quarters of this year. New apartment sales dropped 9 percent during the same period.
The trend appears strongest in the Helsinki region. A new housing development in Tapanila district struggled to sell units even after two years on the market. Not a single apartment sold in the development.
Why do buyers prefer older buildings? They often offer better value and require less immediate investment. New constructions sometimes come with premium prices that don't match actual quality.
The Finnish housing market remains slow overall despite these shifts. Buyers clearly vote with their wallets for established neighborhoods and older buildings.
This pattern suggests buyers question whether new constructions justify their higher costs. They choose practicality over prestige in today's economic climate.