4 February 2026, Finland | Corporate Finance, Investment Management | News
Finland’s transaction market came back to life after two very sluggish years, with transaction volume ultimately more than doubling year-on-year to approximately EUR 4.4 billion. Investors’ confidence has improved, and outlook is more optimistic once again.
Particularly long lease agreements with strong tenants have proven their value even in a weaker market environment. This is reflected in increased investor demand for long-lease public use and retail properties. Volume of public properties amounted to nearly EUR 1.5 billion, while retail properties accounted for approximately EUR 1.2 billion, together representing over 60% of total transaction volume in 2025. International investors’ share of the total volume was over 60%, and the most active investors were Nordic listed entities.
It appears that the real estate investment market has passed its bottom, and transaction prices for high-quality assets stabilized in 2025. The market is further supported by easing inflation and the stabilization of the medium-term interest rate outlook, which is increasingly reflected in buyers’ and sellers’ finding mutually acceptable pricing in transactions. The main concern among investors relates to Finland’s weak economic growth, which is visible in the real estate market through modest rental growth and low occupancy rates in certain property types.
Theme-based investing in property types supported by strong cash flow and megatrends is likely to continue in 2026, and polarization between high-quality and weaker assets is expected to persist. Improving market confidence was also evidenced by the return of large transactions, with a total of eight transactions exceeding EUR 100 million completed last year. We therefore believe that in 2026 investors will continue to have both the confidence and the capital to invest in high-quality assets.
The Catella Market Indicator can be ordered by clients and business partners for free from the following e-mail: info@catella.fi.
For more information, contact:
Petteri Kokko
Managing Director
Tel. +358 40 8222 580
petteri.kokko@catella.fi