"The fall in price in Europe has not gone as far as in the United States. At present, it is in several European countries, including Sweden, where house prices are more overvalued than the U.S., according to an estimate from the International Monetary Fund, IMF."
"The danger of further price decline in housing looks to be, therefore, greater in Europe, even if the correction does not need to be as drastic on all sides. The risks are increasing, however, that the crises in the financial sector as well as to the current economic downturn will be deepen."
"Sweden appears so far to have done better than most euro area countries. A lot of Swedish industrial companies, focusing on global markets, have felt a tailwind. Strong public finances mean that there is space to support the economic situation, mainly through tax cuts, which is lacking in many other places."
"Yet, it will be felt here too with weaker export performance and a depressed domestic economy, where inflation and high interest rates grits out of household purchasing power. A sharp drop in the Swedish house prices would make the situation much more difficult, especially if it is combined with an increase in unemployment."
Sweden is more analysed than Finland most notably because it has a bigger and stronger economy. I think that the Swedish housing market, throughout history, has been behaving in the same way as the Finnish one.