Housing is expensive in Finland, particularly in the Helsinki metropolitan area. However, prices throughout the country have been much more stable than in most countries of the European Union (EU).
In the second quarter of 2020, marked by Covid-19 containment measures in most Member States, house prices rose by 5% on average in the euro area and by 5.2% in the EU compared with the same quarter of the previous year.
In Finland the year-on-year rise was much lower, only 0.5%, one of the lowest in Europe.
Compared with the first quarter, house prices rose by 1.7% in the euro area and 1.5% in the EU in the second quarter of this year. The increase in Finland was again smaller, just 0.6%.
These figures come from Eurostat, the statistical office of the European Union.
Development in EU member states
Among the Member States for which data are available, the highest annual increases in house prices in the second quarter of 2020 were recorded in Luxembourg (+13.3%), Poland (+10.9%) and Slovakia (+9.7%), while prices fell in Hungary (-5.6%, see note under the table) and Cyprus (-2.9%).
Compared with the previous quarter, the highest increases were recorded in Luxembourg (+4.4%), Italy (+3.1%) and Austria (+2.5%), while decreases were observed in Hungary (-7.4%, see note under the table), Estonia (-5.8%), Latvia (-2.3%), Bulgaria (-1.1%) and Ireland (-0.1%).