In Estonia, housing and rents have risen sharply since 2010. In Finland, housing prices have been slower than the EU average, but rents have risen faster than many others.
Home sale is currently so lively in Finland that not everyone who has sold their homes wants to find a new home after shopping.
Trading volumes have been clearly elevated since the summer of last year and in February home sales were up to 18 percent higher than a year earlier.
As demand increases, prices rise. In February, house prices rose by 3.4 per cent in the Greater Helsinki area, 4 per cent in Tampere and 3.4 per cent in Oulu compared with the previous year. In February, house prices will rise as well propped up otherwise moderate inflation in Finland.
Looking at current spending, it feels like at least house prices are skyrocketing very quickly. However, this is not the case when looking at a longer period of time.
In fact, housing prices in Finland have been very moderate in the last decade compared to the European Union countries on average. According to a table published by Eurostat, Finland lags far behind Estonia, Sweden, Germany and the Netherlands in rising house prices.
Housing the leading country in terms of price increases is Estonia, where prices have risen by almost 113 per cent from the last quarter of 2010 to the same period in 2020. Over the same period, house prices rose by around 29% on average across the EU. According to Eurostat, house prices in Finland have risen by 14.6 per cent over the same period.
In Finland, house prices rose by more than 10 per cent in a decade.
In four EU countries, house prices have even fallen. Housing prices have fallen the most in Greece, by about 28 percent. In Italy, prices fell by 15%, in Spain by about 5% and in Cyprus by just over 3%.
In addition to Estonia, there has also been strong growth in Luxembourg and Hungary, both of which have seen prices rise by more than 90%. Growth has also been particularly strong in Latvia and Austria.
Also Estonia ranks first in the rise in rents with an increase of more than 140 percent. Lithuania also reaches more than 100%.
Across the EU, rents rose by an average of 14.9% over ten years. Rents became cheaper only in Greece and Cyprus.
In Finland, rents have risen considerably more than average, by almost 30 per cent.
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