House prices rose despite April sales declines in Finland from last year

price The proportion of old housing in housing companies increased by 3.2% year-on-year and 0.8% month-on-month in April. Preliminary data Published by Statistics Finland on Tuesday.

Year-over-year growth was 2.6% in the six major Finnish cities and 4.5% in the rest of the world.

Jooho KeskinenEconomists at the Finnish Mortgage Association (Hypo) said market activity remained surprisingly strong despite the war of aggression by Russia.

“The mood is calm and the high levels of activity witnessed during the coronavirus crisis are clearly behind us, but sales are still higher than they were three years before the pandemic,” he says. I did. comment..

Tampere, Turku and Espoo recorded the largest price increases in the big cities, with prices for old homes rising 5.4, 5.0 and 4.7 percent, respectively. Metropolitan prices were up 1.6% in Helsinki, up 1.6% in Helsinki, and down 0.6% in Vantaa, up only 1.9%.

“Real estate investors seem to have been more upset by the war than those looking for new homes, especially as reflected in price movements in the metropolitan area,” said Keskinen.

Nevertheless, sales of old homes have slowed. Preliminary data show that real estate agent-mediated sales were down 15% year-over-year.

Keskinen attributed this development to investor caution.

“Rising costs and interest rates are hurting investors’ interests as there are many small apartments that began construction before the war this year. People looking for their own homes still have a floor space that makes it easier to work from home. And the price of larger homes will continue to rise this year. “

This situation is convenient for many who are looking for their first home.

“People looking for smaller, first homes have the opportunity to negotiate more aggressively about prices, as prices for single-room apartments are falling this year at Growth Centers,” said Keskinen.

Aleksi Teivainen – HT House prices rose despite April sales declines in Finland from last year

Back to top button