Total Area: 338,145 km²
GDP (in billion USD): 266
Finland, officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe.Finland's residential housing market has slowed sharply, with the economy in danger of recession, due to the Eurozone crisis.
During the year to May 2012, the average price of old dwellings in blocks of flats and terraced houses in Finland rose by 1.7% to €2,127 per square meter (sq. m.), according to Statistics Finland. However, when adjusted for inflation, property prices actually dropped by 1.2% over the same period.
Construction activity is falling. The area covered by residential building permits plunged by 30.2% in March 2012 from a year earlier. Terraced houses recorded the biggest drop of 57.7%, followed by residential blocks of flats (-42.4%) and detached houses (-13.2%).