The drop in prices in February was the strongest in the big cities. Compared to January, prices have already risen slightly.
Apartments the visible decline in prices continued in February. According to Statistics Finland’s preliminary data, the prices of old shared apartments fell by 5.2 percent throughout the country. However, compared to the previous month, prices were on the rise, and old shared apartments became more expensive by 1.2 percent from January.
Apartment prices fell all over Finland compared to the previous year. The drop in prices was more severe in large cities than in the rest of the country.
Among the big cities, the decline was strongest in Helsinki, Vantaa and Espoo. In the capital region, prices fell by 6.1 percent from a year ago. Outside the big cities, the price drop was 4.4 percent.
About a third less sales of old apartments and townhouses were made through real estate agents than a year earlier, says the Statistics Finland.
Housing sales have slowed significantly with the rise in interest rates. According to the Bank of Finland, around 40 percent fewer mortgages were taken out in January than a year earlier. New housing loans were taken out for around 847 million euros. The number of loans taken out fell by almost 21 percent since December.
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