Housing prices in Finland are expected to have the biggest drop this year since 1993, according to a housing market review conducted by Hypo, a Finnish credit institution specializing in this sector.
High interest rates, a big supply of new apartments, and a decline in demand caused by economic uncertainty have all contributed to the downward trend, Hypo said in a press release on Friday, adding that a similar trend was last observed 30 years ago.
In 2023, the number of property transactions will decrease by one-third compared to 2022 and by one-fifth compared to 2019, the last pre-COVID-19 year, the report said.—Xinhua
