In December, the prices of old condominiums in Finland saw a notable decline, dropping by 4.5% year-on-year, as reported by Statistics Finland in their latest preliminary data. This decline marks a continuation of a trend that began in the previous months, indicating a more significant decrease of 1.7% compared to the preceding month. The overall dip in housing prices accelerated since November, when a decrease of 2% was recorded across Finland, reflecting broader economic challenges in the housing market.

The decline in housing prices was widespread across different regions of Finland, with the capital region experiencing a notable decrease of 4.3% compared to the previous year and a slight drop of 0.3% from the month before. Specifically, the areas of Espoo and Kauniainen faced a 4.7% price decline year-on-year and a decrease of 1.6% from the previous month. In contrast, Vantaa saw a 5.3% drop year-on-year; however, it experienced a 2.1% increase compared to the previous month, showcasing regional variances within the capital area.

These developments in the housing market signal a broader trend that may reflect evolving economic conditions and consumer sentiment in Finland. With the continued decline in prices, stakeholders, including potential buyers and investors, will need to adjust their strategies and expectations accordingly as the market landscape changes.