Apartment prices fell by 7.3 percent during the third quarter of this year compared to the same period of 2022, according to preliminary data published by Statistics Finland on Friday.
The fall in prices during July to September also represents a two-percent drop compared to the previous quarter, April to June.
Prices fell more sharply in cities, Statistics Finland's report noted, at an average of 7.1 percent compared to Q3 of last year, while the price differential was 6.1 percent for the rest of the country.
The data further revealed that prices fell the most in the cities of Vantaa (9.3%) and Espoo (9.0%) while among the other large cities, Turku and Oulu saw the lowest price drops, of about 4 percent.
Finland's housing market has been on a downward trajectory throughout 2023, with home financing specialists Hypo predicting earlier this year that Finland is on course to see the biggest decline in property prices since 1993.
The All Points North podcast recently asked whether it is a buyer's or renter's market in Finland. Listen to the episode via this embedded player, on Yle Areena via Apple or Spotify or wherever you get your podcasts.
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