The slide in apartment prices accelerated – in a few years, a quarter has already fallen from real prices

Statistics Finland advance information According to

Compared to October, prices fell by 0.4 percent.

Prices decreased from a year ago in all major cities.

The drop in prices was the biggest in Vantaa, where prices fell by 6.2 percent.

The second largest price drop was in Turku, where the decrease was 5.7 percent.

In November, prices in Helsinki and the capital region both fell by 3.8 percent from a year ago.

“Tariff decreased quite a bit”, characterizes the chief actuary of Statistics Finland Anu Rämö.

Apartments became cheaper in November both in the capital region and in Helsinki at the fastest pace of the whole year.

Apartments have never been this cheap this decade.

Price slippage has been quite steep since summer 2022.

In November, the nominal prices of old apartments in the capital region were 18 percent lower compared to the prices in June 2022, when prices were at their peak.

In Helsinki, prices have fallen by 19.1 percent from that price peak.

In real prices, i.e. excluding the effect of inflation, the prices of old apartments have decreased by 24 percent in the capital region and 25 percent in Helsinki since June 2022, Rämö calculates.

The old ones According to Statistics Finland, in November 2025, the prices of shared apartments in the six largest cities fell by 3.6 percent compared to the year before.

Outside the big cities, prices rose by 0.7 percent.

The prices of apartments in apartment buildings fell by three percent in the whole country from a year ago.

The prices of townhouses rose by 0.4 percent.

In November, three percent fewer sales of old apartments and townhouses were made through real estate agents than a year earlier.

Housing trade The fact that consumer confidence remained weak in December also partly explains the sluggishness.

The balance of the consumer confidence indicator was -7.3 in December, while it was -6.5 in November and -7.6 in October. The numbers can be found in Statistics Finland’s publication on Monday from the consumer confidence statistics.

“The actual collapse in confidence already occurred in early 2022, when Russia attacked Ukraine. Confidence soon rose a little after that, but then surprisingly remained permanently at its current weak level,” says the Chief Actuary of Statistics Finland Pertti Kangassalo in the bulletin.

In December, the time was still considered very unfavorable for buying durable goods. Durable goods mean, for example, products such as a car.

Also intentions to spend money in the next year on the purchase of durable goods were even scarcer in December.

Only ten percent of consumers anticipate that they will increase and even 42 percent estimate that they will decrease their spending on durable consumption within a year, Statistics Finland reports.

“This is worrying in terms of the much-needed economic growth, when the fact is that about half of GDP comes from private consumption,” Kangassalo states.

Apartment only 11 percent of consumers considered buying or building a house.

16 percent of consumers planned to spend money on home renovations in the next year.

A good fifth, or 21 percent, of consumers believed that Finland’s economic situation will improve over the next year.

More than a third, or 38 percent, on the other hand, thought that our country’s economy is going into recession.