Larger municipalities in Finland, with populations of 100,000 or more, saw the price of existing detached homes rise by 5.8% in Q3, compared to the third quarter of 2020, with the price of single-family houses also increasing by an average of 5.5% during the same period, according to preliminary data released by Statistics Finland.

Statistics Finland’s index of real estate prices further revealed that the largest annual price increase in Q3 was 8.9% for the smaller municipalities with populations of between 20,000 and 60,000 people, while the smallest municipalities — with populations of 20,000 people or less — saw prices rise by a more modest 3.5%.

In total, almost 5,000 single-family houses were sold during the third quarter of this year in Finland, which is about 2% less than in Q3 2020, mainly due to a lack of new supply.