Although prices fell by 5% nationwide, cottage prices rose in some Finnish regions and municipalities.
Last year, sales of summer cottages in Finland decreased significantly compared to the previous year.
Prices in 2023 have fallen further compared to peak prices in 2020 and 2021, when summer home prices soared due to increased demand due to travel restrictions caused by the COVID-19 pandemic.
With the end of international travel restrictions, the market has normalized, with prices returning to pre-pandemic levels.
Data from the Land Survey of Finland shows that the impact of the “coronavirus hype” on waterfront cottage prices has almost completely disappeared. Nationally, the average price of a summer cottage fell by 5% from 2022 to 2023.
sharp drops
Comparing by region, cottage prices in Kaimenrakso clearly saw the biggest decline by 29%.
Kantahame, Satakunta and South Karelia also experienced a significant decline.
Many popular vacation resort municipalities have been hit by the decline of the buying boom. For example, average prices in Hameenlinna fell by 17% year-on-year in 2023, Kouvola by 13% and Parainen by 7%.
regional exceptions
An interesting exception was on the shores of Lake Saimaa in South Savo, where prices fell by 8% across the region. However, in Puumara and Savonlinna, cottage prices increased by 10% and 15% respectively. In contrast, nearby Mikkeli was affected, as was Kuopio in North Savo, the country’s most popular holiday village municipality.
In particular, price increases were also recorded in North Ostrobothnia (+23%), Ostrobothnia (+20%) and Lapland (+17%).
As usual, waterfront cottages are the most expensive in Uusimaa and southwestern Finland. The cheapest cottages were in North Savo and Kainuu.
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