Ostrobothnia home prices rise as capital region values fall

Finland’s property market is showing sharp regional differences, with detached-house prices falling in the capital region but rising in Ostrobothnia, Yle reports. In some parts of Ostrobothnia, demand is strong enough to exceed supply.

According to new statistics from the National Land Survey of Finland, 23,200 property transactions involving homes and holiday homes were completed between January and July. That was almost the same level as during the corresponding period last year.

In the largest cities of the capital region, median prices for detached houses fell significantly. Prices dropped by 7.5 per cent in Espoo, 6.4 per cent in Helsinki and 5.8 per cent in Vantaa.

Saara Saari, director of registry services at the National Land Survey of Finland, said Vantaa’s smaller decline was partly explained by the number of transactions and differences in price levels.

“More transactions have traditionally been completed in Vantaa than in Espoo and Helsinki. The price level there has also previously been lower,” Saari said.

She cautioned that median prices can reflect either falling prices or a larger number of transactions at lower prices. The figures show completed sale prices and transaction volumes, she said, rather than changes in property values.

The most expensive detached houses were found in Espoo, Helsinki, Sipoo and Kirkkonummi. The only municipality outside the Uusimaa region among the five most expensive was Pirkkala, where 27 houses changed hands.

In Pirkkala, the median price rose by 49,000 euros from the previous year to 369,000 euros, an increase of 15.3 per cent. Saari said the municipality had maintained a higher price level than Tampere for several years, despite the small number of transactions.

She attributed Pirkkala’s appeal partly to its services and transport connections. Few houses come onto the market there, but those that do are sold, she said.

Ostrobothnia recorded the largest increase among Finland’s regions. The median price of a detached house rose by 49,000 euros to 169,000 euros between January and July, compared with 120,000 euros during the same period a year earlier.

Katariina Heinua, sales manager at OP Koti Pohjoinen, urged caution when interpreting the increase. Detached houses are currently selling well in Ostrobothnia when they are in good condition and realistically priced, she said.

Heinua said prices from the coronavirus pandemic years should not be used as a direct comparison because the housing market has changed significantly. At that time, there were more buyers relative to sellers and zero interest rates supported home sales.

In Vaasa, detached houses were on the market for an average of 116 days during the first half of 2026, compared with 109 days during the same period in 2025.

Heinua encouraged sellers to put their homes on the market, saying there were enough buyers and that demand could exceed supply in some housing categories. Newer residential areas with housing built in the 2000s and even the 2010s are among the most sought-after parts of Vaasa’s housing market.

Saari said regional differences in the property market were substantial. She noted that the rise in Ostrobothnia was almost as large as the fall recorded in North Savo, but said there was no single explanation for the differences.

Property transactions have increased clearly compared with the difficult preceding years, although volumes have not yet returned to the levels seen during the peak coronavirus years of 2020 to 2022.