In Finland, house prices, particularly of old apartments, have fallen by 2.8% in January compared to the same month in the previous year, as reported by Statistics Finland. This decline has affected all major cities, with Helsinki experiencing the largest drop at 4.4% and Turku following closely behind with a 4.1% decrease. Additionally, outside of the major cities, the prices dropped by 2.3%, highlighting a widespread trend across the housing market.

The report also noted a decrease in the number of transactions, with a 5% decline in the sales of old apartment buildings and row houses compared to the previous year. This drop in sales activity could be indicative of buyer hesitance in a declining market, leading to lower demand for housing. It is notable that these trends come on the heels of a challenging economic environment, where the end of the previous year was marked by a similar downturn in property values.

Economist Veera Holappa from Pellervo Economic Research (PTT) expressed concern over these figures, deeming them worse than expected. Holappa emphasized the necessity to pay attention to these numerical trends, as they signify a continuous struggle for the housing market in Finland. The overall nationwide price drop of 0.4% from the previous month further emphasizes the instability and challenges faced in the real estate sector during this period.