In its ruling, the Supreme Administrative Court found that the Real Estate Management Federation and six industry companies* engaged in prohibited cooperation regarding price increases, which aimed to influence price development in an anti-competitive manner. The press releases published by the Real Estate Management Federation also sought to influence prices across the entire real estate management sector.
The Finnish Competition and Consumer Authority (FCCA) proposed to the Market Court in February 2021 that a total of 22 million euros in penalties be imposed on the Real Estate Management Federation and the industry companies for a price cartel. According to the FCCA’s investigations, the companies and the Real Estate Management Federation had agreed on the prices of real estate management services between 2014 and 2017 and sought to increase the national price level in the real estate management sector.
In December 2022, the Market Court imposed a total of 4.93 million euros in penalties on the Real Estate Management Federation and six industry companies. The FCCA, Kiinteistötahkola, REIM, and Retta appealed the Market Court’s decision to the Supreme Administrative Court.
In its ruling on June 26, 2025, the Supreme Administrative Court determined that the actions of the real estate management companies and the association constituted a serious and deliberate restriction of competition. According to the Supreme Administrative Court, the companies aimed to influence price development in the real estate management sector in an anti-competitive manner. The press releases published by the association sought to influence prices across the entire real estate management sector.
The Supreme Administrative Court found that the violation was nationwide and of considerable economic significance. However, according to the Supreme Administrative Court’s assessment, the violation was narrower than what the FCCA had presented. Nevertheless, the Supreme Administrative Court increased the penalties imposed by the Market Court.
"We are pleased that the Supreme Administrative Court recognized this as a serious violation and acknowledged the initiative and activity of the companies in anti-competitive conduct."
"We hope that this case will prompt companies to pay attention to what kind of cooperation they can engage in within trade associations. Competition law does not prevent normal advocacy by trade associations. However, trade associations must not provide price recommendations, and competing companies operating within the associations must not discuss pricing among themselves."
More information
Supreme Administrative Court decision 1486/2025 (in Finnish)
Market Court decision MAO:H409/2022 (in Finnish)
Press release December 15, 2022: Market Court imposes fines of about EUR 5 million on Finnish Real Estate Management Federation and real estate management companies for cartel
Press release February 10, 2021: FCCA proposes that EUR 22 million in penalty payments be imposed for a price cartel on companies in real estate management and the Finnish Real Estate Management Federation
* Colliers Finland Group Oy ja Retta Isännöinti Oy
Kiinteistö-Tahkola Tampere Oy
OP Koti Kainuu Oy
Oulun Kiinteistötieto Oy ja Suomen Kiinteistöhallinta Oy
Retta Isännöinti Oy, Retta Oy, Retta Group Oy ja Retta Holding Oy
REIM Hämeenlinna Oy ja REIM Group Oy Ltd