Figures from Statistics Finland show that property prices fell by 1.2 percent per square meter in Tampere in August, compared with the same period last year. At the same time, prices rose by 4.5 percent in Turku and 3.6 percent in Helsinki.
Chief Economist Juhana Brotherus from credit institution Hypo said Tampere need not worry about its appeal however.
“If we look at the figures from a year and a half or two years ago, the prices are higher now. Based on this, I wouldn’t be concerned,” Brotherus says.
Tampere's population grew by 3,700 last year – the largest increase ever. Against this background, it is positive that house prices have remained stable, Brotherus says.
"A lot of new housing has been constructed in Tampere recently, which has prevented the market from heating up too much,” he says. “People moving to Tampere have been able to find homes and have money left to spend on other things too.”
Turku's economy booming
Meanwhile, property prices in the south-western Turku area have benefited from a booming economy, with people from across Finland moving to work at the city's shipyard or the car factory in nearby Uusikaupunki.
However, until recently, the speed of construction in Turku has not kept up with that of Tampere, Brotherus says. Now the pace has quickened though.
“Looking a year ahead, additional construction should help bring down the price pressures in Turku too,” he predicts.