In the six largest cities, apartments and houses fell in price by 6.1% over the year, by 6.7% in the metropolitan region, and by 4.4% in areas outside megacities.
The volume of home sales also decreased. In February, it was 15% less than in February 2023.
Johana Bratus, chief economist at the Federation of Finnish Enterprises, believes that the market will continue to decline for some time. According to his forecasts, the recovery will not occur until the end of this year, when lower interest rates on loans and increased purchasing power will make financial conditions more favorable.
Vira Holappa, senior economist at Pellervo Economic Research (PTT), is somewhat more optimistic, believing that the return of new buyers could shake up the housing market this spring. "As household sentiment improves and first-time home buyers return to the market, sales chains begin to operate. This could revive the situation as early as early summer," she said.
A source: Helsinki Times
