Espoo

The city of Espoo in Finland is actively addressing housing challenges through various initiatives and policies. The administration aims to meet planning and housing production targets set in the MAL agreement with the state, focusing on fair, responsible, and long-term land and housing policies.

Espoo's targets for affordable housing include:

• Building an average of 300 new apartments annually through Espoon Asunnot Oy
• Ensuring that 20-30% of new housing is state-subsidized affordable housing
• Reducing homelessness, with a goal to eliminate long-term homelessness by 2027
• Prioritizing urgent housing needs in state-subsidized rental units

Concrete activities and programs to create more affordable and sustainable housing include:

• The Kera district transformation project, developing a smart and circular city district for 14,000 residents
• The Affordable Housing Initiative, supporting energy-efficient and sustainable housing developments
• Implementation of land use agreements to cover urban construction costs and achieve housing policy objectives
• Promoting new housing models like partial ownership apartments, multigenerational block areas, and group construction
• Encouraging the use of wood and low-carbon construction materials in both new and renovation projects
• Providing housing advice services to prevent homelessness and resident exclusion
• Implementing social mix policies to ensure diverse and inclusive neighborhoods

These efforts demonstrate Espoo's commitment to creating affordable, sustainable, and inclusive housing options for its residents.

Espoo, Finland's second-largest city, is experiencing a dynamic housing market in 2025. The city has seen significant growth, with its population reaching approximately 321,000. In 2022, a record 5,625 new dwellings were completed, exceeding the annual target of 3,300.

As of 2018, Espoo had about 67,764 social housing apartments, nearly double the number from 1985. The city's housing stock is diverse, with a mix of apartments, rowhouses, and detached homes.

Recent data shows that 53% of households in Espoo rent their homes, while 48% are owner-occupied. The median apartment price in Espoo's Tapiola area reached €3,228 per square meter in 2024, indicating strong appreciation potential.

While specific current rental prices for Espoo are not provided, the nearby city of Helsinki had a median rent of €2,900 per month for all property types as of December 2024.

Public, social, and cooperative housing play a significant role in Espoo's market. The city has been actively involved in providing affordable housing options, with projects like the Housing First programme aimed at eradicating homelessness.

The housing market in Espoo is showing signs of stability and growth, with increased demand for family dwellings and smaller apartments. The city's proximity to Helsinki and ongoing infrastructure developments continue to make it an attractive location for both residents and investors.